Aatmanirbhar Bharat Rojgar Yojana (ABRY)

Context:

• Government has given its approval for extending the terminal date for registration of beneficiaries for availing the benefit under Aatmanirbhar Bharat Rojgar Yojana (ABRY) for another nine months i.e. from 30th June, 2021 to 31st March, 2022.
• it is expected that 71.8 lakh employment will be generated in the formal sector as against the earlier projection of 58.5 lakh.

About ARBY:

• This scheme is being implemented through Employees Provident Fund Organization (EPFO) to reduce financial burden of the employers of various sectors/industries and to encourage them to hire more workers.
• Under ABRY, establishments registered with EPFO and their new employees drawing monthly wage of less than Rs. 15,000/- are being benefited if the establishment recruits new employees or those who lost their job between 01.03.2020 to 30.09.2020.
• Under ABRY, Government of India is crediting for a period of two years both the employees' and employers share' (24% of wages) or only the employees' share (12% of wages), depending on the strength of EPFO registered establishments. 
• ABRY was announced as one of the measures under Aatmanirbhar Bharat 3.0 package to boost the economy and increase employment generation in formal sector during post Covid recovery phase.

Source: https://www.pib.gov.in/PressReleseDetail.aspx?PRID=1731868