The Employees Provident Fund Organisation on July 14, 2020 has decided to extend the validity period of Scheme for implementation of PMGKY package for credit of employer’s and employee’s contributions (24% of wages) by Government of India. The government has decided to pay 24 percent of monthly wages under the PMGKY scheme for three months to all the workers earning below 15,000 rupees per month and to support establishments employing up to one-hundred employees, with 90 percent employees.
The extension of this scheme has been approved by the competent authority considering the Atmanirbhar Bharat Abhiyan.
The Competent Authority has approved the extension of the existing benefit under the aforesaid scheme for three months under Atmanirbhar Bharat Abhiyan. Therefore, the clause 3 of the Scheme is amended to the extent that the Scheme shall be in operation for wage months of March 2020, April 2020, May 2020, June 2020, July 2020, and August 2020
Get all EPFO Updates in one place, Subscribe us to never miss an update from EPFO, Goal of AVACOM for compliance officers is to understand legal updates in India and how the company needs to file the compliances to avoid fines and penalties, it is achieving that goal, so it can be documented and as necessary, shown to regulators or other stakeholders who might be asking about the company’s compliance program.
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