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New Delhi: To boost employment under the Viksit Bharat initiative, the Union Government launched the PM Viksit Bharat Rozgar Yojana (PM-VBRY) from today, August 1. The scheme, which was approved by the Union Cabinet chaired by Prime Minister Narendra Modi, comes with a budget of Rs 99,446 crore.
The primary goal of PM-VBRY is to generate over 3.5 crore jobs across various sectors over two years between August 1, 2025, to July 31, 2027. A total of 1.92 crore jobs will be for first-time employees entering the workforce. The scheme is divided into two parts and includes-
This is for new employees registered with the Employees' Provident Fund Organisation (EPFO). Eligible workers with salaries up to Rs 1 lakh will receive a one-month EPF wage incentive (maximum Rs 15,000) paid in two instalments after 6 and 12 months of continuous employment.
The second instalment requires to complete a financial literacy programme by the employee. A portion of the incentive will be held in a savings account.
It incentivises employers to create new jobs, especially in the manufacturing sector. For a new employee earning up to Rs 1 lakh per month, employers will get up to Rs 3,000 per month for two years. In manufacturing, the support continues for a period of four years.
Employers with less than 50 staff must hire a minimum of two additional employees, and those with 50 or more must hire at least five. A minimum of six months of sustained employment is necessary.
| EPF Wage of New Employee | Monthly Incentive |
|---|---|
| Up to Rs 10,000 | Up to Rs 1,000 |
| Rs 10,001– Rs 20,000 | Rs 2,000 |
| Rs 20,001– Rs 1,00,000 | Rs 3,000 |
The payments to employees will be made via Direct Benefit Transfer (DBT) and to employers through their PAN-linked accounts.
