Pradhan Mantri Garib Kalyan Yojana - Summary
The Government of India introduced the Rs. 1.70 Lakh Crore relief package under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) on 26.03.2020 to provide crucial support to the poor amid the Coronavirus pandemic. This scheme’s primary goal is to offer financial assistance and multiple benefits to individuals in dire need.
Key Features of the Pradhan Mantri Garib Kalyan Yojana
Under this support initiative, the Central Government will contribute 24 percent of the monthly wages to the EPF accounts for the next three months. This benefit is specially designed for wage-earners earning less than Rupees fifteen thousand monthly. It applies to employees in establishments with up to one hundred workers, where at least 90% earn below Rs. 15,000 per month.
Download the Pradhan Mantri Garib Kalyan Yojana PDF
To protect low-wage employees from employment difficulties, the government will cover the complete EPF contributions (12% of wages) for employees as well as the employers’ contributions (12% of wages) to both EPF and EPS. This totals 24% of the monthly wages for the next three months. The contributions will be directly credited to the EPF accounts (UAN) of eligible employees who are already part of the EPF Scheme, 1952, earning less than Rs. 15,000 per month and working in the specified establishments.
The Pradhan Mantri Garib Kalyan Yojana is a significant step by the government to uplift the poor and grant them necessary support during tough times. Don’t forget to download the PDF for a detailed overview of the Pradhan Mantri Garib Kalyan Yojana today!
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