New Delhi: The Central Board of Secondary Education (CBSE) has decided to contribute Rs 21,00,000 from all employees who have voluntarily come forward to donate their salaries  to PM CARES Fund (Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund), a government’s initiative which aims to deal with emergency situations such as the ongoing COVID-19 or coronavirus pandemic. Also Read - Bizarre! Bareilly Man Wants to Take Last Look at Sister's Face at AIIMS Mortuary, Finds Another Body

“Group- A Employees have donated two day salary and Group- B & C Employees, one day Salary to Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)”, CBSE said in a statement.

“The country is facing Corona Virus (COVID-19) Pandemic of unprecedented magnitude posing serious threat to the health, life and economic security of millions of people in the Country,” CBSE Secretary Anurag Tripathi said in the statement.

The PM CARES Fund is exempt under the Income Tax Act, 1961 under Section 10 and 139 for return purposes. Contributions towards PM-CARES are notified for 100 per cent deduction from taxable income under section 80(G) of the Income Tax Act, 1961.

Earlier in the day, leading digital payments and financial services platform Paytm had pledged to contribute Rs 500 crore to the PM CARES Fund.

Urging users to do their bit in the fight against Covid-19, the company said that for every contribution or any other payment made on Paytm using the wallet, UPI and Paytm Bank debit card, the company will contribute an extra up to Rs 10.

“We are honoured to do our duty to aid the government in all the relief measures being taken to fight the Corona pandemic. We hope our users wholeheartedly donate to PM CARES fund and help save lives,” Madhur Deora, President – Paytm, said in a statement.