Finance Minister Arun Jaitley presenting the Union Budget for financial year 2016-17 in Parliament
Finance Minister Arun Jaitley on Monday said that the government will pay employers' share of 8.33 per cent in the Employee Provident Fund (EPF) for all new employees for first three years.
The decision has been taken to "incentivize employers to recruit non-employed persons", Mr Jaitley announced in his third Budget.
The scheme will be applicable for persons with a monthly salary of Rs 15,000, the finance minister said in Budget 2016.
Mr Jaitley has set aside Rs 1,000 crore for the new EPF scheme in Budget 2016.
The decision has been taken to "incentivize employers to recruit non-employed persons", Mr Jaitley announced in his third Budget.
The scheme will be applicable for persons with a monthly salary of Rs 15,000, the finance minister said in Budget 2016.
Mr Jaitley has set aside Rs 1,000 crore for the new EPF scheme in Budget 2016.
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