How is investing in Gold ETF better than jewellery?
What is the right way to invest in gold? Why should you not invest in gold jewellery? What is the benefit of investing in Gold ETF? What should be the share of gold in the portfolio?
New Delhi: Around 16.5 lakh people have benefited from the Aatmanirbhar Bharat Rozgar Yojana (ABRY) which was launched in October to encourage hiring in the country amid the COVID-19 pandemic, Union minister Santosh Gangwar said on March 17.
“As on 9th March, 2021, 16.49 lakh employees were registered for availing the benefits (under ABRY),” Labour Minister Santosh Gangwar said in a written reply to the Rajya Sabha on March 17.
The scheme has been introduced to incentivize creation of new employment along with social security benefits and restoration of loss of employment during the pandemic. This scheme is implemented through the Employees Provident Fund Organisation (EPFO), reduces the financial burden of the employers of various sectors/ industries and encourages them to hire more workers.
Under the ABRY, the Government of India is crediting for a period of two years both the employees’ share (12% of wages) and employers’ share (12% of wages) of contribution payable.
In another reply on job creation in the House, the minister stated, “Under the ABRY, approximately 16.5 lakhs beneficiaries have registered themselves with the Scheme from October 1, 2020. Out of this, approximately 13.64 lakhs are new joinees with UAN (universal account number) generated on or after October 1, 2020 and approximately 2.86 lakhs are re-joinees who were rendered un-employed during the pandemic from March 1, 2020 to September 30, 2020 & rejoined from October 1, 2020 onwards.”
Under Pradhan Mantri Garib Kalyan Yojana (PMGKY), the Government of India has contributed both 12% employer’s share and 12% employee’s share under Employees Provident Fund (EPF), totaling 24% of the wage for the wage month from March to August, 2020, for the establishments having up to 100 employees with 90% of such employees earning less than Rs 15,000.
Under the PMGKY scheme, Rs 2,567.66 crore was credited in EPF accounts of 38.82 lakhs eligible employees, the minister told the House.
In another reply to the House, about women job creation, minister told the House,”During April– December, 2020, there is an addition of around 9.27 lakh female subscribers under Employees’ Provident Fund (EPF) Scheme, 1.13 lakh female subscribers under the New Pension Scheme (NPS) and around 2.03 lakh female subscribers under Employees’ State Insurance Scheme.”
In another reply, the minister said, “The pending (provident fund) claims are 15,351 which is 0.053% of the total of 2.91 crore claims settled during that period (April 2020 to February 2021).” According to the reply, the (PF) claim settlement is a dynamic process with continuous receipt and settlement of the claims. The time period for settlement of claims, complete in all respects, is 20 days.