Economic Survey 2020-21: Aatmanirbhar Bharat Rojgar Yojana (ABRY)

Economic Survey 2020-21: Aatmanirbhar Bharat Rojgar Yojana (ABRY)

Part of: GS Prelims and GS- III – Economy

In news 

• The Economic Survey says that ABRY, a component of the Aatmanirbhar Bharat package announced in November 2020 has a total estimated outlay of Rs 22,810 crore for the scheme period i.e., up to wage month 31st May 2023.

The scheme proposes to pay:

• Entire employees’ and employers’ contribution i.e. 24% of wages towards EPF in respect of new employees in establishments employing up to 1000 employees during the period from October 2020 to June 2021 and also to re-employ who lost their jobs due to COVID-19.
• Only employees’ share of EPF contribution (i.e. 12 percent) of wages in respect of new employees in establishments employing more than 1000 employees during the period from October 2020 to June 2021, and also to re-employees who lost their jobs due to COVID-19.

• To provide relief to the organized sector employees, a notification issued on 28th March 2020 by the Government provisioning a non-refundable advance of 75 percent of the outstanding balance or 3 months’ wages whichever is lower, allowed to the members of EPFO.
• Under Prime Minister’s Garib Kalyan Package (PMGKP) financial assistance was given to building & other construction workers (BOCW) which largely included migrant workers from the funds collected under BOCW’s cess.