PM Gareeb Kalyan Yojna
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News : EPFO puts in place Online Mechanism to credit EPF and EPS Accounts of Subscribers as per PM Gareeb Kalyan Yojna.
- Employees Provident Fund Organization (EPFO), a statutory body under Union Ministry of Labour and Employment, has put in place an electronic mechanism for crediting EPF and EPS accounts of its subscribers.
- Accordingly, the relief announced by the government can be claimed by eligible organisations/establishments by filing Electronic Challan-cum-return (ECR).
- The due amount on behalf of Employers and Employees reflected in the ECR on account of EPF and EPS (24% wages) will be credited by the Central Government for three months in UANs of contributory EPF members, earning monthly wage of less than Rs.15000/-, who are already employed in EPF covered establishments/factories employing up to one hundred employees with 90% or more of such employees earning monthly wage of less than Rs.15000/-.
- Around 79 lakh subscribers and approximately 3.8 lakh establishments are expected to benefit benefit from the package.
- This is estimated to have a subsidy outgo of Rs 4800 crore in a period of three months.
- Central Govt. had launched the Pradhan Mantri Garib Kalyan Yojana (PMGKY) on 26.03.2020 to help poor fight the battle against Corona Virus pandemic.
- The PMGKY package is aimed at preventing disruption in the employment of low wage earning EPF members and extending support to the eligible EPF covered establishments.