Sunday, 12 April 2020

PF ECR Subsidy to tide over the impact of COVID-19 -Reg

EPFO has released the circular and guidelines to the implementation of Pradhan Mantri Garib Kalyan Yojana Package for credit of Employees and Employers Share of EPF & EPS Contributions (24% of wages) for three months by Government of India. 

As per the notification to prevent disruption in the employment of low wage-earning employees and support establishments employing up to one hundred employees, the entire employees EPF contributions (12% of wages) and employers’ EPF & EPS contribution (12% of wages), totaling 24% of the monthly wages for the next three months shall be directly paid by the Central Govt. in the EPF accounts (UAN) of employees, who are already members of Employees Provident Funds Scheme,1952, drawing wages less than fifteen thousand rupees per month and employed in establishments, already covered under the Employees Provident Funds And Miscellaneous Provisions Act 1952, employing up to one hundred employees, with 90% or more of such employees earning less than fifteen thousand rupees monthly wages Please refer to the document for detailed information

The gist of the scheme is  as follows:
**Same as PMRPY, challan must be paid before 15th of every month for three months 
    (it may change if special instructions comes).
**Aadhar KYC is must in respect of all Eligible employees (Example: Out of 10 eligible employees,      If aadhar KYC is made for 08 only, then remaining 02 will not get benefited).

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