Prime minister Narendra Modi introduced the Pradhan Mantri Viksit Bharat Rozgar Yojana on the 79th Independence Day, announcing a ₹1 lakh crore initiative aimed at empowering the youth of india by facilitating job creation.
What is the Pradhan Mantri Viksit Bharat Rozgar Yojana?
This scheme incentivizes first-time employees and employers in the private sector. Young individuals entering the job market can receive ₹15,000 from the government when they secure their first job, while companies that create new employment opportunities are also rewarded.
Incentives for First-Time Employees:
- Eligibility:
- Salaried employees earning up to ₹1 lakh per month.
- Must join an EPFO-registered establishment between 01.08.2025 and 31.07.2027.
- Must not have been a member of EPFO or an Exempted Trust before 01.08.2025.
- EPF contributions must commence from august 2025 or later.
- Continuous employment for at least 6 months is required.
- Benefit Structure:
- Total incentive can reach ₹15,000 (equivalent to one month's EPF wage).
- First installment of up to ₹7,500 is payable after 6 months of employment.
- Second installment is provided after 12 months of employment and completion of a financial literacy program.
Incentives for Employers:
- Benefits:
- Employers can receive up to ₹3,000 per employee per month, based on salary, for two years (four years for the manufacturing sector).
- Eligibility:
- Must be EPFO-registered and compliant.
- New jobs must exceed existing staff counts.
- Minimum hiring requirements: at least 2 if staff < 50, or at least 5 if staff ≥ 50.
How to Apply:
1. Obtain EPFO Code via the Shram Suvidha Portal.
2. Register on the EPFO Employer Login Portal.
3. Hire new employees earning up to ₹1 lakh per month.
4. File monthly ECR returns with PF contributions.
5. Maintain additional staff for a minimum of 6 months.
Important Considerations:
1. Employees must join EPFO-registered or exempted establishments.
2. Incentives are capped at one month’s wage (Basic + DA), up to ₹15,000.
3. UAN must be authenticated via Aadhaar.
4. Incentives are transferred directly using the aadhar Bridge Payment System (ABPS).
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