COVID: Cabinet extends EPF support for small businesses; 72 lakh employees to be benefited

Union Cabinet on Wednesday approved the extension of Employees' Provident Fund (EPF) contribution for three more months, from June to August 2020.  Javadekar added that the scheme has been further extended for another 3 months from June to August 2020.

Prakash Javadekar addressed a press conference after a Cabinet meeting and said that the government paid the provident fund for small businesses, where under 100 people are employed and more than 90 per cent of those get salary of less than Rs 15,000

"Cabinet approves extension of EPF contribution of 24 per cent (12 per cent employees share and 12 per cent employers share) for another 3 months from June to August 2020 under Pradhan Mantri Garib Kalyan Yojana/Atma Nirbhar Bharat," Union Minister

"The government paid the provident fund for small businesses, where under 100 people are employed and more than 90 per cent of those get salary of less than Rs 15,000. The government paid both the workers/employee's share and the owners' share for three months. The move benefitted over 72 lakh employees," Javadekar said.

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He had earlier said that the Cabinet had also approved the extension of Pradhan Mantri Garib Kalyan Anna Yojana for further five months under which 203 lakh tons of grains will be distributed among 81 crore people.

The step was first announced by Prime Minister Narendra Modi on June 30.  Prime Minister Narendra Modi announced the extension of Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) till November end. Under the scheme, the Central Government shall provide either one kg of wheat or rice to every family of the needy till then end of the scheme. The Prime Minister in his live address informed that almost 80 crore people have benefitted under the PMGKAY scheme so far amid the Coronavirus forced lockdown. 

Announcing the extension of PMGKAY, PM Modi in his speech highlighted that almost Rs 90,000 crores will be spent by the government in providing free ration till the end of November. He added that if the cost of the past three months is added, then the total relief amount under the PMGKAY scheme will reach Rs 1.5 lakh crores. Apart from wheat and rice, each family member will also be provided with 1 kg of Chana Dal monthly for free, PM Modi announced in his live speech. 

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