Coimbatore, Dec 9 (PTI): Tirupur Exporters Association (TEA) on Wednesday thanked Prime Minister Narendra Modi for approving the Atmanirbhar Bharat Rojgar Yojana (ABRY) to boost employment in the formal sector and also for incentivising creation of new employment opportunities under the Atmanirbhar Bharat Package 3.0.

 In a statement here, TEA president Raja M Shanmugham said the scheme would be beneficial to Tirupur exporting units recruiting employees at present. Expressing concern over the increasing attrition rate in the sector, he said the Cabinet has approved an expenditure of Rs 1,584 crore for the current financial year and Rs 22,810 crore for the entire scheme period 2020-2023. 

The Centre would provide subsidy for two years in respect of new employees engaged on or after October 1 and upto June 30 next year, he said. 

The Centre would also pay both 12 per cent employees'' contribution and 12 per cent employers'' contribution towards EPF in respect of new employees in establishments employing upto 1,000 employees for two years, he said. 

Published On : 9-12-2020

Source : Outlook India