
Under the scheme, for past workers (workers with their past service), an employer does not have to pay damages and administrative charges. Employers will have to remit only their contribution and 12% interest on the amount. If employees’ contribution was not collected, this doesn’t have to be paid.
New employers will have to pay just 3.67% with the remaining 8.33% coming from the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY) for first three years. However, for the apparel sector, there is no employers’ contribution for new employees for three years. The scheme is also open for new employees, new establishments and voluntary enrollments.
Sources said some organisations had suggested for the extension of the enrollment programme. EPFO has 4.15 crore active subscribers now, which is likely to go up further.
The EPFO has started enrolling workers from some semi-organised sectors like construction. The unorganised sector is not covered so far, but the retirement fund organisation has proposals to rope them in also.