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The Cabinet on Wednesday approved a proposal to provide employees' provident fund (EPF) contribution to those hiring additional workforce for two years. This would cost the government Rs 1,584 crore in the current financial year and Rs 22,810 crore during the entire period, from 2020 to 2023.
The proposal, Atmanirbhar Bharat Rojgar Yojana (ABRY), announced earlier by finance minister Nirmala Sitharman as part of stimulus package, aimed at generating 5-6 million jobs by June next year, sources said.
Under the package, the union government will provide subsidy for two years in respect of new employees engaged on or after October
