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Central Govt will Pay Provident Fund For These Private Employees Till 2022

Nirmala Sitharaman, Finance Minister of India, announced on August 21 that the government will pay the provident fund (PF) share of employer and employee till 2022 for those people who lost
their jobs, but were again called back to work in small-scale jobs in the formal sector. They should also have units registered in the Employees’ Provident Fund Organisation (EPFO).

If in a district, more than 25,000 migrant workers working in the informal sector return to their native places, they will receive benefits from 16 government schemes for employment, the finance minister said.

The government hiked the Mahatma Gandhi National Rural Employee Guarantee Act (MGNREGA) budget from Rs 60,000 crore to around Rs 1 lakh crore in 2020 amid the Covid-19 pandemic.

The retirement body of EPFO released the provisional payroll data on August 20 which released a growing trend as it included 12.83 lakh net payroll additions during June 2021.

The impact of the second wave of the Covid-19 pandemic waned in June, with respect to payroll data, resulting in huge growth compared to April and May this year, according to EPFO.

The data’s month-on-month analysis highlighted an increase of 5.09 lakh additions in net subscribers during June this year, compared to May 2021.



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