Contribution of 12% to EPF for new employees for 3 years by the government in sectors employing large number of people.
The third claim is that ‘contribution of 12% to EPF for new employees for 3 years by the government in sectors employing large number of people’. [...] The scheme document of the Pradhan Mantri Rojgar Protsahan Yojana states that ‘in the Budget Speech 2016-17, it was stated that in order to incentivize creation of new jobs in the formal sector, Government of India will pay the Employee Pension Scheme contribution of 8.33% for all new employees enrolling in EPFO for the first three years of their employment. This will incentivize the employers to recruit unemployed persons and also to bring into the books the informal employees. In order to channelize this intervention towards the target group of semi-skilled and unskilled workers, the scheme will be applicable to those with salary up to Rs 15,000 per month. I have made a budget provision of Rs 1,000 crore for this scheme’. [...] Fact: Government of India will pay the full employer’s contribution (both EPF & EPS) of 12%. Hence, the claim is TRUE.