Categories: Business

Cabinet approves extension of EPF support for 3 months

Photo: GOOGLE

EPF support scheme extended

new Delhi. The Union Cabinet on Wednesday approved a proposal to extend the government's plan to pay the share of employers and employees in units of a limited size to the Provident Fund for three months till August. Finance Minister Nirmala Sitharaman had announced in May this year to extend the scheme till August. After the Cabinet meeting, Union Information and Broadcasting Minister Prakash Javadekar told reporters, "The Cabinet has approved to extend the scheme till August under which the government will contribute the employees and employers to the Provident Fund." Where the number of employees is up to 100 and the monthly salary of 90 percent of them does not exceed Rs. 15,000.

The government has taken this step to provide relief to small establishments and employees working in the Kovid-19 crisis and the 'lockdown' for its prevention. The government announced a 'lockdown' on 25 March. Sitharaman had announced in May to extend the scheme till August to provide relief to employees and employers under the Pradhan Mantri Garib Kalyan Yojana. Under this, the government will contribute the entire 24 percent of the contribution of the employees and employers to the provident fund till August. This will provide relief to 3.67 lakh employers and 72.22 lakh employees. Javadekar said that the decision was made keeping in mind the interests of employees and employers. On the one hand, while employees will get more money as salary, employers will get relief in payment of provident fund dues. Earlier, this benefit was given in the salary of March, April and May. Now this benefit will be available in the salary of June, July and August, 2020.

This post was published on July 9, 2020 1:48 am

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