The Narendra Modi government has decided to contribute the entire 12 percent to the EPF for new employees in the informal sector. The decision will benefit 1 crore employees.
The Union Cabinet, chaired by Prime Minister Narendra Modi, has taken several key decisions including announcing 12 percent incentive towards EPF for new employees in the informal sector. The government also approved educational loan worth Rs 66,000 crore for economically weaker sections of the society. Besides, to give a push to the development works in the North East region, the government announced Rs 45,00 crore for various schemes.
Source: Financial Express