Haryana hikes employment subsidy from April
Haryana Hike Employment
Haryana hikes employment subsidy. According to the Haryana Enterprises and Employment Policy-2020, the subsidy was Rs 36,000, but it has now been increased to Rs 48,000 per employee to promote local employment.
Haryana Hike Employment Subsidy from April
Haryana, the auto industry’s hub and the 14th most business-friendly state, has increased employment subsidies to organisations based in the state.
Haryana State has increased the employment generation subsidy in an effort to encourage local hiring.
The employment generation subsidy is intended to help build the capacity of state-domiciled skilled, semi-skilled, or unskilled workers with a valid employees’ state insurance (ESI) or provident fund (PF) number and a monthly income of Rs 40,000 or less, whether full-time or contract workers.
According to the Haryana Enterprises and Employment Policy-2020, the subsidy was Rs 36,000, but it has now been increased to Rs 48,000 per employee per year for ten years in categories ‘B,’ ‘C,’ and ‘D’.
Haryana’s Cabinet has also approved a 50% cap on net state goods and services tax (SGST) reimbursement or investment subsidy.
Once approved by the Council of Ministers, the change in the SGST and employment generation subsidy will apply to industries that began commercial production on or after April 1, 2023.
For industries that have already applied for or are receiving incentives under the SGST and employment generation scheme, the policy may not require a change in the quantum.
Furthermore, the quantum of incentives under the SGST and employment generation scheme for mega and ultra-mega projects approved by the Haryana Enterprises Promotion Board before 1 April 2023 will not change.
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