Will first-time employees earn Rs 15,000 under PM Viksit Bharat Rozgar Yojana?
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Synopsis
The PM Viksit Bharat Rozgar Yojana, effective from August 1, promises first-time EPFO employees an earning of Rs 15,000. This substantial initiative aims to create over 3.5 crore jobs across India, with a special emphasis on encouraging savings and financial literacy among the new workforce.
Key Takeaways
- Scheme Launch Date: August 1
- First-time Employees: To earn Rs 15,000
- Total Outlay: Rs 99,446 crore
- Job Creation Target: 3.5 crore jobs
- Focus on Manufacturing: Incentives to boost employment
New Delhi, July 25 (NationPress) First-time employees who are registered with the EPFO will start receiving Rs 15,000 from August 1 under the newly launched PM Viksit Bharat Rozgar Yojana (PM-VBRY), as announced by the Ministry of Labour and Employment on Friday.
The PM-VBRY, previously referred to as the employment-linked incentive (ELI) scheme, has been approved by the Union Cabinet with an allocation of Rs 99,446 crore.
“This initiative targets first-time employees registered with the EPFO, offering a one-month EPF wage up to Rs 15,000 in two instalments,” stated the Ministry.
The first instalment will be distributed after six months of service, while the second instalment will be disbursed after 12 months of service, contingent upon the employee completing a financial literacy programme.
The scheme is designed for individuals earning salaries up to Rs 1 lakh and aims to promote savings habits.
“A portion of the incentive will be allocated to a savings instrument or deposit account for a specified duration, which the employee can access later,” the Ministry noted.
Additionally, the scheme encourages employers to create new job opportunities and is focused on generating new employment across various sectors, particularly in the manufacturing industry.
For employers, the scheme will support the creation of extra jobs in all sectors, with increased emphasis on manufacturing.
“Employers will receive incentives for employees earning up to Rs 1 lakh. The Government will provide up to Rs 3,000 per month for two years for each additional employee who maintains employment for at least six months,” the Ministry explained.
In the manufacturing sector, incentives will be available for the third and fourth years as well.
To qualify for the scheme, EPFO-registered businesses must hire a minimum of two additional employees (for companies with fewer than 50 employees) or five additional employees (for companies with 50 or more employees), sustained over at least six months.
Payments to first-time employees will be processed through the Direct Benefit Transfer (DBT) system utilizing the Aadhar Bridge Payment System (ABPS), while payments to employers will be directly deposited into their PAN-linked accounts, as stated by the Ministry.
The PM-VBRY scheme aims to stimulate the creation of over 3.5 crore jobs in India within a two-year timeframe, according to the Ministry.
“Out of these, 1.92 crore beneficiaries will be new entrants to the workforce. The benefits of this scheme will apply to jobs established between August 1, 2025, and July 31, 2027,” it added.
Point of View
It's crucial to recognize the potential of the PM Viksit Bharat Rozgar Yojana in addressing employment challenges. This initiative showcases the government's commitment to fostering job creation and promoting financial literacy, which are vital for sustainable economic growth. Our nation stands to benefit significantly from these efforts, especially in the manufacturing sector, where job opportunities are expanding.
NationPress
26/07/2025
Frequently Asked Questions
What is the PM Viksit Bharat Rozgar Yojana?
The PM Viksit Bharat Rozgar Yojana is a government initiative aimed at providing financial support to first-time employees registered with the EPFO, offering them a monthly earning of Rs 15,000.
Who is eligible for the PM-VBRY scheme?
First-time employees registered with the EPFO and earning salaries up to Rs 1 lakh are eligible for the PM-VBRY scheme.
How will the payments be made?
Payments to first-time employees will be made through the Direct Benefit Transfer (DBT) system, while payments to employers will be credited directly to their PAN-linked accounts.
What is the incentive for employers?
Employers can receive up to Rs 3,000 per month for two years for each additional employee who maintains employment for at least six months.
What is the goal of the scheme?
The PM-VBRY aims to create over 3.5 crore jobs in India over two years, with a focus on first-time workers entering the job market.
