The entire 12% contribution to the Employees Provident Fund (EPF) by new employees in the informal sector would be given by the government, Minister of State for Finance Santosh Kumar Gangwar said on Thursday.
The move would benefit 1 crore employees and cost the exchequer around Rs.6,500 crore to Rs.10,000 crore, he said at a press briefing after a Cabinet meeting.
Development of Northeast
Minister of State (MoS) (Independent Charge) for the Ministry of Development of North Eastern Region Jitendra Singh said an important decision to do with the Northeast was taken by the Cabinet. “In the last few years, the development being given to the Northeast has been like never before,” he said.
Mr. Singh highlighted that the focus on the Northeast was showing transformation results. “The decision was that so far the 90:10 funding programme for the Northeast and hill States has now been made 100% funding by the Centre,” he said.