{"id":136542,"date":"2023-08-31T17:00:59","date_gmt":"2023-08-31T11:30:59","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=136542"},"modified":"2023-08-31T17:02:00","modified_gmt":"2023-08-31T11:32:00","slug":"aatmanirbhar-bharat-rozgar-yojana-abry-exceeds-its-target","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/aatmanirbhar-bharat-rozgar-yojana-abry-exceeds-its-target\/","title":{"rendered":"Aatmanirbhar Bharat Rozgar Yojana (ABRY) Exceeds its Target"},"content":{"rendered":"\n

The Aatmanirbhar Bharat Rozgar Yojana (ABRY), a pioneering employment incentive initiative by the Central Government, has surpassed its original objectives in generating employment opportunities. This accomplishment underscores the scheme’s effectiveness in stimulating job creation and economic recovery in the wake of the COVID-19 pandemic<\/a>. Originally designed to accept registrations until March 31, 2022, the ABRY aimed to benefit around 7.18 million workers across the country. However, by July 31, 2023, the program has already achieved an impressive enrollment of more than 7.58 million new employees, surpassing its initial employment generation goal.<\/strong><\/p>\n\n\n\n

More About the News<\/h2>\n\n\n\n
\"ABRY<\/figure>
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So far, the Aatmanirbhar Bharat Rozgar Yojana (ABRY) has facilitated a total of 1,52,380 establishments, which have collectively employed 60,44,155 new workers. These eligible establishments have availed benefits totaling Rs. 9,669.87 Crore under the ABRY scheme, having met all the necessary eligibility criteria. The scheme ensures the timely disbursement of benefits to qualifying establishments and employees on a monthly basis.<\/p>\n<\/div><\/div>\n\n\n\n

The ABRY’s noteworthy impact on the job market’s revitalization highlights its significant role in driving economic recovery during these demanding circumstances.<\/p>\n\n\n\n

About the Aatmanirbhar Bharat Rozgar Yojana (ABRY)<\/h2>\n\n\n\n

Aatmanirbhar Bharat Rozgar Yojana (ABRY) is a scheme launched by the Government of India in October 2020 to provide employment to fresh graduates and re-employment to those who lost their jobs during the COVID-19 pandemic.<\/strong><\/p>\n\n\n\n

The scheme provided financial assistance to employers operating establishments registered under the Employees’ Provident Fund Organization (EPFO). Its primary objective was to encourage the hiring of individuals who were unemployed, including those who had lost their jobs due to the pandemic.<\/strong><\/p>\n\n\n\n

Benefits<\/h3>\n\n\n\n

Under the scheme’s provisions, it covered both the employee and employer contributions (equivalent to 24% of wages) for establishments with up to 1000 employees. For establishments exceeding 1000 employees, the scheme extended coverage to only the employee’s EPF contributions (amounting to 12% of wages) concerning new employees.<\/p>\n\n\n\n

Under the scheme, the government provides a subsidy of 100% of the employers’ contribution to the Employees’ Provident Fund (EPF) for a period of two years. The subsidy is available to employers who hire new employees or re-employ those who lost their jobs during the pandemic.<\/p>\n\n\n\n

Eligibility Criteria<\/h3>\n\n\n\n