{"id":31135,"date":"2023-09-03T09:09:15","date_gmt":"2023-09-03T03:39:15","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=31135"},"modified":"2025-04-16T09:31:58","modified_gmt":"2025-04-16T04:01:58","slug":"aatmanirbhar-bharat-rozgar-yojana","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/aatmanirbhar-bharat-rozgar-yojana\/","title":{"rendered":"Aatmanirbhar Bharat Rozgar Yojana"},"content":{"rendered":"<h2><strong>About Aatmanirbhar Bharat Rozgar Yojana:\u00a0<\/strong><\/h2>\n<ul>\n<li>It was launched in 2020.<\/li>\n<li>This was designed to\u00a0<strong>stimulate the creation of new job opportunities by extending financial support to employers of establishments<\/strong> registered with the Employees&#8217; Provident Fund Organization (EPFO).<\/li>\n<li>This scheme aimed to incentivize\u00a0<strong>employment of unemployed individuals<\/strong>, including those who lost their jobs due to the pandemic, by covering both the employee and employer contributions (24% of wages) for establishments with up to 1000 employees.<\/li>\n<li>For establishments\u00a0<strong>with over 1000 employees<\/strong>, only the employee&#8217;s EPF contributions (12% of wages) were covered in respect of new employees.<\/li>\n<li>As of July 31, 2023, the ABRY has already achieved an enrolment of over 7.58 million new employees, surpassing its initial employment generation target.<\/li>\n<li><strong>Significance:<\/strong> It substantially contributed to\u00a0<strong>the job market&#8217;s revival, underscoring its role in boosting economic recovery<\/strong> during these challenging times.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Key facts about Employees&#8217; Provident Fund Organization<\/h3>\n<ul>\n<li>It is a statutory body that came into existence under the\u00a0<strong>Employees\u2019 Provident Fund and Miscellaneous Provisions Act, of 1952.<\/strong><\/li>\n<li>The Act and Schemes framed there under are administered by a\u00a0<strong>tripartite Board\u00a0<\/strong>known as the Central Board of Trustees, Employees&#8217; Provident Fund, consisting of representatives of Government (Both Central and State), Employers, and Employees.<\/li>\n<li>The Board administers a\u00a0<strong>contributory<\/strong>\u00a0<strong>provident fund, a pension scheme<\/strong>, and an insurance scheme for the workforce engaged in the organized sector in India.<\/li>\n<li>The Board is assisted by the Employees\u2019 PF Organization (EPFO), consisting of offices at 122 locations across the country.<\/li>\n<li>The EPFO is under the administrative control of the\u00a0<strong>Ministry of Labour and Employment, Government of India.<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1) What is provident fund?<\/h3>\n<p>A provident fund is a financial savings scheme typically established by employers to help employees save money for their retirement or other long-term financial goals. These funds are often set up as part of an employment contract, and both the employer and the employee contribute a portion of the employee&#8217;s salary to the fund on a regular basis.<\/p>\n<p><strong>Source:<\/strong> <a href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=1953546\" target=\"_blank\" rel=\"nofollow noopener\"><u>Aatmanirbhar Bharat Rozgar Yojana (ABRY) Surpasses Employment Generation Target<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aatmanirbhar Bharat Rozgar Yojana was designed to stimulate the creation of new job opportunities by extending financial support to employers of establishments<\/p>\n","protected":false},"author":5,"featured_media":31136,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-31135","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=31135"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/31135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/31136"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=31135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=31135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=31135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}