Govt. incentivizing job creation by pegging EPF contribution rate at 8.3% for recruiting fresh employees

[Informalisation and Labour Rights - Related News]

The government has incentivized job creation by pegging the EPF contribution rate at 8.3% for new employees. This has been done in view of the need to create one crore jobs by next year. This was stated by Mr. Bandaru Dattatreya, Minister of State for Ministry of Labour & Employment (IC), Government of India. Mr. Dattareya said that dignity of labor was of utmost importance therefore the new labour codes were being formulated in four areas namely wages, industrial relations, social security and working conditions to strengthen safety and social security of workers. He added that these codes would simplify, amalgamate and rationalize the relevant provisions of the central labour laws.