What is PMRPY ?

PMRPY – Pradhan Mantri Rojgar Protsahan Yojana

Human Resource is the prime asset of any organization and managing them efficiently has become the important function nowadays. Thus, welfare of employees has kept at top priority. The most important step towards such program is registering employees under EPF. This provides social and financial security after reaching the age of superannuation.

What is PMRPY ?

“The Pradhan Mantri Rojgar Protsahan Yojana(PMRPY) Plan Scheme has been designed to incentivise employers for generation of new employment, where Government of India will be paying the full employer’s contribution towards EPF & EPS both w.e.f 01.04.2018 (earlier benefit was applicable for employer’s contribution towards EPS only) for the new employment.

This scheme has a dual benefit,

  • In the employment base of workers this establishment made increased in the employer.
  • On the other hand, a large number of workers will find jobs in such establishments. A direct benefit is that these workers will have access to social security benefits of the organized sector”

Benefits of EPF:

  • The contribution also helps employees by facilitating to withdrawal partial amount for expenses like house construction, daughter’s wedding, in the case of critical illness, higher education etc. Thus, it is very important to contribute towards this fund for both employer and employee.

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  • Ravi

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