The Atmanirbhar Bharat Rojgar Yojana (ABRY) is a government initiative launched to encourage job creation and support businesses in India, particularly in the wake of economic challenges brought on by the COVID-19 pandemic. Under the broader umbrella of the Atmanirbhar Bharat Abhiyan, ABRY aims to create new employment opportunities, support employees’ provident fund contributions, and alleviate the financial burden on businesses by helping them retain or expand their workforce.
What is the Atmanirbhar Bharat Rojgar Yojana (ABRY)?
Launched by the Ministry of Labour and Employment in December 2020, the Atmanirbhar Bharat Rojgar Yojana (ABRY) is designed to promote job creation and support businesses in retaining their employees. This scheme offers financial support to employers by covering a portion of Employees’ Provident Fund (EPF) contributions for new employees and those who may have lost jobs due to the pandemic.
By incentivizing companies to hire new employees, ABRY contributes to India’s broader goals of economic recovery and self-reliance. The program is aligned with the Atmanirbhar Bharat mission, which focuses on making India self-reliant by supporting local industries and encouraging sustainable job growth.
Benefits of the ABRY Scheme
1. Financial Assistance for Provident Fund Contributions
Under ABRY, the government covers EPF contributions for new employees. This reduces the financial burden on businesses, making it easier for them to hire more workers and boost employment.
2. Increased Employment Opportunities
The scheme encourages employers to create more jobs, directly benefiting new entrants into the job market and those who lost employment due to the pandemic. This boosts job creation and reduces unemployment.
3. Employee Retention and Stability
By covering provident fund contributions, ABRY promotes job stability and encourages companies to retain employees. This provides financial security for workers and reduces the rate of turnover.
4. Support for MSMEs
Micro, Small, and Medium Enterprises (MSMEs) are among the primary beneficiaries of ABRY. The financial assistance offered through the scheme allows small businesses to sustain their workforce even during challenging economic conditions.
5. Alignment with Atmanirbhar Bharat Mission
ABRY is part of the government’s Atmanirbhar Bharat initiative, which aims to boost self-reliance and support local businesses. The scheme helps create a robust ecosystem of employment, contributing to India’s economic growth.
Advantages of the ABRY Scheme
1. Boosts Job Creation
ABRY provides financial incentives that encourage companies to hire new employees, leading to increased job creation and economic recovery. This helps India address unemployment challenges and contributes to self-reliance.
2. Reduces Employer Burden
By covering EPF contributions, the scheme eases the financial burden on employers, allowing them to allocate resources toward business growth and development. This is particularly beneficial for MSMEs, which are vital to India’s economy.
3. Supports Economic Recovery
ABRY plays a critical role in India’s economic recovery efforts post-COVID-19. The scheme provides job security for workers and financial support for businesses, aiding in the nation’s path to economic revival.
4. Encourages Workforce Expansion
The scheme incentivizes businesses to expand their workforce. This allows more people to secure jobs, contributing to economic stability and increased household income.
5. Benefits Both Employers and Employees
ABRY benefits both parties by reducing costs for employers and ensuring job security and benefits for employees. This balance is essential for fostering a healthy labor market.
Disadvantages of the ABRY Scheme
1. Limited Awareness Among Small Businesses
Many small businesses, especially in rural or less developed regions, may not be fully aware of the ABRY scheme, limiting its reach and impact.
2. Eligibility Restrictions
The scheme is limited to new employees and those who lost jobs due to the pandemic. While this is helpful, it may exclude other individuals seeking employment who do not fall into these categories.
3. Dependence on Government Funding
As a government-backed initiative, the continuity of ABRY depends on government funding. Any changes in budget allocations or priorities may impact the scheme’s future.
4. Requires Employer Compliance with EPF Norms
Employers need to comply with EPF norms to benefit from ABRY. For businesses that do not meet these requirements, accessing the scheme’s benefits may be challenging.
5. Not a Long-Term Employment Solution
While ABRY provides immediate financial relief and job creation, it may not be sustainable in the long term, as it relies on government support rather than organic job market growth.
How to Apply for the ABRY Scheme: Step-by-Step Guide
Applying for the Atmanirbhar Bharat Rojgar Yojana is a straightforward process that can be completed online. Here is a step-by-step guide to help employers enroll in the scheme.
Step 1: Visit the Official EPFO Website
To begin the application process, visit the Employees’ Provident Fund Organization (EPFO)website. The EPFO manages the ABRY scheme, and all applications can be submitted through their online portal.
Step 2: Log in to the Employer’s Portal
Employers must log in to the EPFO employer portal using their credentials. If you are not registered, you can create an account by providing necessary details like your company’s name, address, and contact information.
Step 3: Register New Employees
To avail of ABRY benefits, employers must register new employees in the Unified Portal. Ensure that the employee’s information, such as Aadhaar number, bank details, and EPF account number, is accurate.
Step 4: Submit Required Documents
Provide necessary documents to verify employee eligibility. These documents may include ID proof, employment records, and salary details. Make sure to double-check all information to avoid processing delays.
Step 5: Verify Eligibility
Once employees are registered, verify their eligibility under the ABRY scheme. Eligible employees should not have been employed in EPFO-registered companies prior to October 1, 2020, or must have lost their jobs between March 1, 2020, and September 30, 2020, and rejoined by March 31, 2022.
Step 6: Claim EPF Contribution Support
Employers can then apply for EPF contribution support under ABRY. The government provides 12% of wages for eligible employees in establishments with over 1,000 employees and 24% of wages for employees in establishments with fewer than 1,000 employees.
Step 7: Access Support for Future Contributions
Once enrolled, employers will continue to receive support for EPF contributions for eligible employees. Regularly monitor your EPFO account to track payments and ensure compliance with ABRY guidelines.
Step 8: Maintain Employee Records
It is essential to maintain accurate records of employees enrolled under ABRY. This helps ensure that the company remains compliant with EPFO guidelines and can continue receiving benefits.
The Atmanirbhar Bharat Rojgar Yojana (ABRY) is a transformative initiative aimed at reducing unemployment, supporting businesses, and aiding economic recovery in India. By covering EPF contributions, the scheme reduces financial strain on businesses, promotes job creation, and aligns with the broader goals of the Atmanirbhar Bharat mission.
For more information on similar schemes, refer to our articles on PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi), Pradhan Mantri Rozgar Protsahan Yojana (PMRPY), and Skill India Mission. For detailed information on how to apply or additional details on ABRY, visit the EPFO official website.
