The report reveals that 80,000 companies allegedly duped the system by taking financial incentives for the scheme. The PMRPY scheme incentivizes employers registered with the Employees’ Provident Fund Organisation (EPFO).
Through the scheme, the Centre pays 8.33 percent of the EPS (Employees’ Pension Scheme) contribution of the employer for new jobs. These 9 lakh fake beneficiaries from 80,000 companies were lured by this benefit.
Taking actions government through the EPFO has already recovered around Rs 222 crore. The provident fund accounts (over 9 lakh) in question are blocked. Though “lack of knowledge” among employers may be a factor but prima facie it is an incident of fake beneficiaries.
Launched in 2017 the scheme incentivizes employers for increasing the employment base and a large number of workers find jobs that give them social security benefits of the organized sector.
Inputs Business Today