Unveiling a Rs.1,800 crore (Rs 18 billion) scheme to ensure regular employment to physically challenged persons, the Centre on Wednesday promised incentive to employers in organised sector if they provided regular jobs to them.
In his Budget speech, Finance Minister P Chidambaram proposed a new scheme to reimburse employer's contribution to the Employees Provident Fund and Employees State Insurance for the first three years.
He said the government would reward the employer once physcially challenged employee was regularised and enrolled under the EPF and ESI.
He also said the government was ready to support creation of about 100,000 jobs every year for the physically challenged persons with a salary limit of Rs 25,000 per month.
The finance minister estimated the cost to the government at Rs 150 crore (Rs 1.5 billion) per year rising to Rs 450 crore (Rs 4.5 billion) per year when the scheme is fully rolled out.
The Centre has earmarked Rs 1800 crore (Rs 18 billion) for this purpose in the budget, he added.