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Kerala CM announces wage subsidy scheme for new ventures


Kerala CM announces wage subsidy scheme for new ventures

 


Kerala State Government launched a wage subsidy scheme for the first five years for new ventures getting registered from 1 April 2020.

The scheme was unveiled by the Chief Minister Pinarayi Vijayan on 9 January 2020 at the Global Investor Summit ASCEND 2020.

The initiative will enhance the ease of doing business in the state. It is expected to subsidize a part of the wage commitment of newly-set up industries for the first five years.

Only Units that provide Employees' State Insurance (ESI) and Provident Fund (PF) benefits to workers will benefit under the scheme.

Women employees will get at least Rs.2,000 more than their men counterparts under the proposed scheme. 

It is expected the over 37 lakh people will benefit under the scheme.

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