News > FM announces new employment generation scheme

FM announces new employment generation scheme

Dais Newsfeed | 12/11/2020 06:44 PM | Click to read full article

Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said.

Employees contribution (12 per cent of wages) and employer’s contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said.

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