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Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)

Pradhan Mantri Rojgar Protsahan Yojana — (Source: i.ytimg.com)

In a world of growing competition,landing an adequate job and making a decent living might seem like a challenge.So the Government launched PM Rojgar Protsahan Yojana keeping this problem in mind.It aims at connecting employers with employees for new job creation.In addition, it employs semi-skilled and unskilled workers in India.

Are you wondering how to find a job and make a proper living while handling the growing expenses?Then, let us find out all about PMRPY, which can help you with that!

What Is Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)?

The Indian Government designed the PM Rojgar Protsahan Yojana to reduce unemployment in India.For this, the Government shall incentivise employers and create new employment.Therefore,the employers registered under the Employees' Provident Fund Organisation(EPFO)will receive EPS(Employee Pension Scheme)and EPF(Employees’ Provident Fund)for the initial 3 years spanning employment of a candidate coming from the PMRPY scheme.Thus, if you wonder what PMRPY means,it is a government scheme related to unemployment eradication.

The two purposes of this scheme include encouraging job creations on the employers' part and creating larger employment benefits for unemployed workers.The introduction of this scheme took place in the Union Budget of 2016-17 with ₹1000 crores worth of investment,aiming at contributing to the EPS for the first three years of the employment of new applicants.The contribution amount was recently increased with the amendment from 8.33% to 12%.The target audience of Pradhan Mantri Rojgar Protsahan Yojana mainly included workers earning wages lower than ₹15,000 monthly.

What are the Objectives of Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)?

The PM Rojgar Protsahan Yojana has been a popular scheme in light of increasing job demands across India.While the ultimate purpose of this scheme is to eradicate unemployment issues, some of its short-term objectives are as follows.

Offering incentives to the employers registered under EPF for new job creations
Payment of the EPF for applicants for the first three years of their service
Assisting less skilled and unskilled workers find jobs and earn a living
Extending social security benefits to the workers in the organised sectors
Helping employers fill their vacancies quickly and increasing their employee base

What Are the Features of Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)?

PMRPY scheme details include assistance initiatives towards workers to find appropriate jobs.In this regard, some of the following features can describe this scheme even better.

EPF and EPS

The Indian Government shall be responsible for contributing to EPF and EPS amounts for the first three years of the employment of applicants.The Government shall be liable to pay 12% for the Employees' Provident Fund (EPF) and Employees' Pension Scheme (EPS) for the first three years of their employment.This scheme exempts employees from paying their EPF in this period, while employers will not have to contribute to the EPS amount.However, this will only apply for the first three years, considering the employee stays in the same company for the period.

Employment Opportunities

The burning unemployment issues have been bugging the Indian citizens for a long time.The central Rojgar Protsahan Yojana is a way of addressing it.With the help of this, employees get to learn about new job opportunities and avoid EPF payments for a long time. Moreover, the employers can save the amounts spent on EPS and fill their vacant positions quickly with the help of this scheme.

Labour Identification Number (LIN)

A significant feature of the PM Rojgar Protsahan Yojana is to provide workers with employment status.The Government requires organisations to possess a Labour Identification Number (LIN).It is a unique identification number that the Ministry of Labour issues to employers to simplify business regulations.It enables businesses to submit returns and get their registrations done from a single online window of Shram Suvidha Portal.

Universal Account Number (UAN)

The PM Rojgar Protsahan Yojana requires an applicant to possess a Universal Account Number (UAN). The Ministry of Labour and Employment normally issues this number and is then the responsibility of the Employees' Provident Fund Organisation (EPFO) to appoint them.It is a unique identification number helpful in keeping your money, assets and information safe.It also helps to simplify PF transactions for PMRPY applicants.

Thus, it is evident that PM Rojgar Protsahan Yojana can be of immense help to the target audience in terms of making a decent living.Announced in August 2016, the scheme has made quick progress in a short span. As of 2018-19, about 69,49,436 beneficiaries were enrolled with EPFO under the PMRPY scheme.

Who Are Eligible for Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)?

While learning more about this scheme, a question might arise regarding the PMRPY eligibility.The following factors are essential when considering beneficiaries under PM Rojgar Protsahan Yojana.

The organisations already registered under the Employees' Provident Fund Organisation (EPFO) will only be considered for this scheme.
Workers earning wages less than ₹15,000 a month will qualify to apply for Prime Minister Rojgar Protsahan Yojana.
Employees will receive new employee status if they have not worked under any other EPF-registered organisation before their application.
Besides an EPFO registration, organisations should also possess a Labour Identification Number (LIN) to qualify for this scheme.
Employees should possess Universal Account Number (UAN) and have their Aadhaar numbers linked.

What Are the Benefits of Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)?

For understanding details of PMRPY scheme guidelines, one should consider its facilities and benefits.

Employers are encouraged to increase their employment base with proper incentives, which motivates them.
Workers can now find jobs easily, even with lesser knowledge and skills.
Beneficiaries can receive social security benefits from the organised sector.
Employees can save money on EPF for three years.
The reference base of the employees is considered zero/nil, which enables them to utilise the benefits of being new employees under PMRPY.

Thus, there can be several benefits of this scheme.If you qualify with its eligibility criteria, you can also apply to PM Rojgar Protsahan Yojana and enjoy its benefits.However, you should be able to apply for the scheme successfully.Check out the following section to learn the procedure.

How to Avail Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)?

The following steps will be mandatory for applying under PM Rojgar Protsahan Yojana.

Step 1- Visit the official website of PMRPY and click on the “Apply online” option from the Home Page.
Step 2- This will open your application form.Fill out all the necessary details carefully.
Step 3- Submit the form once you are done. You will then be able to log in and check your employment status.

Employers need to visit the official website of PMRPY and log in with their LIN or EPFO ID.They should specify the job details and position for the employees.After getting employed, you will have to submit your ECR (Electronic Challan–Cum–Return) under EPFO.You will also require an online statement from your employer to prove your new employee status.

The following documents should be presented while applying for the PMRPY scheme.

Government ID proofs (Adhaar Card/Birth certificate/PAN)
Address proofs (Ration card/Passport)
Income certificate
LIN in case of employers
Passport size photographs

Therefore, hopefully, now you know all about the PM Rojgar Protsahan Yojana.Applying for this scheme can help you find a job and make a decent living if you fall under the required eligibility criteria.Moreover, it can help you cut down some competitive pressure and save your EPF account for a significant period.

Frequently Asked Questions

✓ Can I apply for PMRPY without UAN?

If you do not have a UAN, you can initiate this through the official website of EPFO.Thus, you will need your Aadhaar card linked with your UAN to apply for this scheme.

✓ How do I know if I am eligible for EPS?

You will have to reach the age of 50 years for an early pension and the age of 58 years for a regular pension.Therefore, you will be eligible for EPS once you retire from your organisation at this age.

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Disclaimer: This information is added only for informative purposes and collected from different sources across the Internet. Digit Insurance is not promoting or recommending anything here. Please verify the information before making any decisions.

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