Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)

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Consider the following statements about Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)

1.      Government of India will be paying the 8.33% Employees’ Pension Scheme (EPS) contribution of the employer for the new employment

2.      The scheme is applicable to an employee earning less than (and including) Rs. 15000 per month

3.      It is under the aegis of Ministry of Labour & Employment

Select the correct statements

a       1 and 2
b       2 and 3
c       1 and 3
d       All of the above
Explanation:

Solution (d)

The PMRPY Scheme aims to incentivise employers for employment generation by the Government paying the employers’ EPS contribution of 8.33%, for the new employees, for the first three years of their employment and is proposed to be made applicable for unemployed persons that are semi-skilled and unskilled. The scheme is being implemented by the Ministry of Labour and Employment and is operational since August, 2016.

The PMRPY Scheme is targeted for employees earning wages less than Rs 15,000/- per month. Thus, new employees earning wages more than Rs 15,000/- per month will not be eligible.