The Union Cabinet has given its approval for Atma nirbhar Bharat Rojgar Yojana (ABRY) to boost employment in formal sector and incentivize creation of new employment opportunities during the Covid recovery phase under Atma nirbhar Bharat Package 3.0.
Under this, Government of India will provide subsidy on Employee Provident Fund (12%) for two years in respect of new employees engaged on or after 1st October, 2020 and up to 30th June, 2021.