After Prime Minister Narendra Modi’s announcement yesterday, Finance Minister Nirmala Sitharaman today said that the government has deposited the share of Employee and Employer in the accounts of employees earning less than Rs 15,000 for three months and will provide the relief to government employees for another three months.
On the first day itself, the finance minister had given important instructions to the employees in addition to several announcements. Finance Minister Nirmala Sitharaman made a big announcement regarding the Employees Provident Fund (EPFO).
The government will pay 12 per cent of the employee fund and 12 per cent of the employer fund from the company and employees by next August. Which will benefit an estimated more than 75 lakh employees and organizations.
Who will benefit?
However, there are some conditions in this plan. The benefits of the government’s announcement will only accrue to companies with less than 100 employees and 90 per cent of them with a salary of less than Rs 150,000. This means that people with a salary of more than Rs 15,000 will not get the benefit of this scheme.