Under the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY)
- Government is providing support grants for vocational training under RSETIs
- State governments are financially supported to contribute fifty per cent of the apprenticeship hiring cost of MSMEs
Which of the above is/are correct?
Both 1 and 2
Incorrect AnswerExplanation:
PMRPY has been in operation since August 2016. Under it, Government is paying 8.33% contribution of Employers to Employees’ Pension Scheme (EPS) in respect of new employees (joined on or after 1st April 2016) having new Universal Account Number (UAN), with salary up to Rs. 15,000/- per month. The scheme has dual benefit i.e. it incentivize employers for increasing employment base of workers establishments and enables large number of workers to find jobs in such establishments. Its direct benefit is that these workers get access to social security benefits of organized sector. Till now, the scheme has produced quite encouraging results and has added about 31 Lakhs beneficiaries to formal employment involving expenditure of more than Rs. 500 crore.
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By: Pradeep Kumar