A cabinet meeting chaired by Prime Minister Narendra Modi has decided to increase aid to the 24 per cent EPF till August. On Wednesday, Union Information and Broadcasting Minister Prakash Javadekar informed the cabinet of the decision. The government says the move will directly benefit 72 lakh jobs. Let me tell you, companies under the Prime Minister's Poor Kyan package have 100 employees. 90% of them earn less than Rs 15,000 a month. The government will contribute to the EPF on behalf of such companies and their employees till August.
The government will spend Rs 4,860 crore
More than 72 lakh employees will benefit.
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The Cabinet has approved an area of 24 per cent EPF contribution for three months from June to August 2020 under Self-Sufficient India, PMGKY. The government will spend a total of Rs 4,860 crore on it. The move will benefit more than 72 lakh employees. Prakash Javadekar told a press conference that in an organization or company where less than 100 employees are working, 90 per cent of the employees are paid less than Rs 15,000. Will directly benefit them.