What Is Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) : PMRPY is an incentive scheme plan for establishments for generating new employment. Simply the main aim of PMRPY is to bring more employees in employee provident fund scheme. For all those organizations the government of India will pay 8.33% pension contribution.
In general employer will pay 12% of employee PF contribution and 13.36 % of employer contribution every month. This 13.36% consists 3.67% of PF and 8.33 % of pension and remaining is administration charges.
As per PMRPY scheme establishments who brings new employment after 31 March 2016 will get this benefit i.e employers don’t need to pay 8.33% of pension contribution to their employees. This amount will be paid by central government of India.
Pradhan Mantri Rojgar Protsahan Yojana Eligibility Criteria
The eligibility criteria for establishments will be explained with an example. For example a company named XYZ Pvt Ltd filled an ECR statement for 50 employees in March 2016. In April 2016 there are new 20 employees joined in that establishments. For those 20 employees the government of India will pay 8.33% of contribution i.e employer doesn’t need to pay 8.33% of pension contribution. Only 3.67% will be deposited by employer in PF fund.
This scheme is eligible for employees who didn’t have any PF account or UAN number in their life time and whose monthly wage is less than 15000 Rs. Only those new employees prior to 1 April 2016 are only eligible for Pradhan Mantri Rojgar Protsahan Yojana scheme.
For new establishments who were registered after 1 April 2016 all employees will eligible for this scheme, but remember this scheme is applicable to employees who didn’t have any previous PF account.
Note : This scheme is valid for 3 years i.e up to 2019 -2020. The govt of India will pay the 8.33% of pension contribution for 3 years only.
For textile industries the entire employer contribution of 12 % ( 8.33% + 3.67%) will be paid by central government of India under Pradhan Mantri Rojgar Protsahan Yojana ( PMRPY ) scheme.
How To Make Payment Under Pradhan Mantri Rojgar Protsahan Yojana Scheme
In order to make payment employers need to login to PMRPY portal https://pmrpy.gov.in/pmrpy/ with LIN number generated in Shram Suvidha Portal or EPFO Code and with respective password. If employer uses LIN ( Labour Identification Number) then they have to use shram suvidha poral Password, if they use EPFO code number then they have to use EPFO employer poral to login to PMRPY portal. After first time login employers need to register under Pradhan Mantri Rojgar Protsahan Yojana portal. All the details regarding new employees should be entered before 10th of every month.