Challenges are bound to emerge, but what’s important are the corrective steps that should be taken in time. In the third part of the Atmanirbhar Bharat package, the government is taking measured and supportive steps for the vulnerable sections. Under the Atmanirbhar Bharat Rozgar Yojana, every registered establishment under the Employees Provident Fund Organisation that brings in new employees into its fold--or employees who have lost jobs between March 1 and September 30, 2020, rejoin work--will be eligible to subsidy of 24% or 12?ch of the employees’ and employers’ contribution for each new candidate enrolled. The move aims to help those earning a monthly wage of up to Rs 15,000 who had lost their jobs on account of the pandemic (https://www.business-standard.com/economy-policy?time=1606105671). To get the subsidy benefit, employers will have to add at least two employees, if they have a workforce of less than 50 (in September this year), and a minimum of five employees if they have more than 50.
The focus of these recent announcements is to create more jobs and support the most vulnerable and distressed sectors of the economy. Such empathetic policies go a long way in restoring confidence. Please browse through the latest Tatsat Communique, our curated spotlight into news that matters.
Sumi Gupta, Director, Tatsat Foundation