Ministry: Ministry of Labour and Employment Donate a Pension Scheme: The ‘donate a pension’ scheme was launched by the Union Labour and Employment Ministry in 2019. It allows any citizen to pay the premium amount on behalf of an unorganized worker under the Pradhan Mantri Shram Yogi Maan-Dhan Scheme. The scheme allows unorganised sector workers …
Ministry: Ministry of Labour Scheme: EPF is a social security scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act,1952 Managed by: The scheme is managed under the aegis of Employees’ Provident Fund Organization (EPFO). Coverage: EPF accounts are mandatory for employees earning up to ₹15,000 a month in firms with over 20 workers. Contribution: Under the …
Employee Provident Fund(EPF) Scheme – UPSC Prelims Read More »
Ministry : Ministry of Labour and Employment Aims to create formal jobs. Scheme: Under the scheme, government would pay Employees Provident Fund (EPF) contributions of both the employee and employer for two years for new workers hired from October 1 to June 30, 2021. For companies that employ up to 1,000 workers, the government would …