Pradhan Mantri Rojgar Protsahan Yojana

Pradhan Mantri Rojgar Protsahan Yojana  has been designed to incentivize employers for generation of new employment, wherein Govt. of India pays employers contribution of 8.33% of wages under EPS (Employee Pension Scheme) in respect of new employees for first 3 years. This scheme is in operation since August, 2016 and is being implemented by Ministry of Labour & Employment.

Objective

The scheme is basically to incentivise the employers for giving employment to new additional workers who have worked for 240 days during financial year 2016-17.

Budget Allocation and Details

In the Union Budget 2017-18, the Government has allocated Rs. 1000 Crore for this scheme including funds for North East & SCSP & TSP. The details of the scheme and its launch date are yet to be defined.