About Aatmanirbhar Bharat Rozgar Yojana:
- It was launched in 2020.
- This was designed to stimulate the creation of new job opportunities by extending financial support to employers of establishments registered with the Employees’ Provident Fund Organization (EPFO).
- This scheme aimed to incentivize employment of unemployed individuals, 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.
- For establishments with over 1000 employees, only the employee’s EPF contributions (12% of wages) were covered in respect of new employees.
- 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.
- Significance: It substantially contributed to the job market’s revival, underscoring its role in boosting economic recovery during these challenging times.
Key facts about Employees’ Provident Fund Organization
- It is a statutory body that came into existence under the Employees’ Provident Fund and Miscellaneous Provisions Act, of 1952.
- The Act and Schemes framed there under are administered by a tripartite Board known as the Central Board of Trustees, Employees’ Provident Fund, consisting of representatives of Government (Both Central and State), Employers, and Employees.
- The Board administers a contributory provident fund, a pension scheme, and an insurance scheme for the workforce engaged in the organized sector in India.
- The Board is assisted by the Employees’ PF Organization (EPFO), consisting of offices at 122 locations across the country.
- The EPFO is under the administrative control of the Ministry of Labour and Employment, Government of India.
Q1) What is provident fund?
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’s salary to the fund on a regular basis.
Source: Aatmanirbhar Bharat Rozgar Yojana (ABRY) Surpasses Employment Generation Target
Last updated on June, 2025
→ UPSC Notification 2025 was released on 22nd January 2025.
→ UPSC Prelims Result 2025 is out now for the CSE held on 25 May 2025.
→ UPSC Prelims Question Paper 2025 and Unofficial Prelims Answer Key 2025 are available now.
→ UPSC Calendar 2026 is released on 15th May, 2025.
→ The UPSC Vacancy 2025 were released 1129, out of which 979 were for UPSC CSE and remaining 150 are for UPSC IFoS.
→ UPSC Mains 2025 will be conducted on 22nd August 2025.
→ UPSC Prelims 2026 will be conducted on 24th May, 2026 & UPSC Mains 2026 will be conducted on 21st August 2026.
→ The UPSC Selection Process is of 3 stages-Prelims, Mains and Interview.
→ UPSC Result 2024 is released with latest UPSC Marksheet 2024. Check Now!
→ UPSC Toppers List 2024 is released now. Shakti Dubey is UPSC AIR 1 2024 Topper.
→ Also check Best IAS Coaching in Delhi