Source:EPFO Orignal Link
A Scheme to incentivise employer registred with the Employees Provident Fund Organisation (EPFO) for job creation by the Goverment paying the 8.33% contribution of Employee Pension Scheme (EPS) in respect of new employees having a new universal account number (UAN). For the Textile (Apparel) sector the Goverment will also will paying the 3.67% Employees Provident Fund (EPF) contribution of eligible employer for these new employees.
The Scheme may be populorised amongst industries for wider participation and coverage. The scheme will be operational with effect from 9th August 2016.