It is to promote/incentivize employment generation.
Central Government will be paying the 8.33% EPS contribution of the employer for the new employment.
All industries registered with Employees’ Provident Fund Organization (EPFO) can apply for availing benefits under the scheme.
It is targeted for employees earning wages less than Rs. 15,000/- per month.
The scheme will be in operation for a period of 3 years and GOI will continue to pay and all new eligible employees will be covered till 2019-20
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