The Regional Provident Fund Commissioner (RPFC), Amritsar, will organise regional-level awareness programmes under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) on June 19 at Sri Guru Harkrishan International School, D-Block, Ranjit Avenue, Amritsar, and Shiv Kumar Batalvi Auditorium, Guru Teg Bahadur Colony, Batala.
The Union Government recently launched PMVBRY, formerly known as the Employment Linked Incentive (ELI) Scheme, with the objective of promoting employment generation, enhancing employability and expanding social security coverage across all sectors of the economy, particularly the manufacturing sector.
Under the scheme, first-time employees will receive an incentive equivalent to one month’s wages, subject to a maximum of Rs 15,000, while employers will be provided financial support for creating additional jobs. Manufacturing sector employers will receive extended benefits for an additional two years.
The scheme comprises two components. Part A, aimed at first-time employees, covers workers registered with the Employees’ Provident Fund Organisation (EPFO) who earn up to Rs 1 lakh per month. Eligible employees will receive the incentive in two instalments. The first instalment will be paid after six months of continuous service, while the second will be released after 12 months of service and completion of a financial literacy programme.
To encourage long-term savings among young workers, a portion of the incentive will be retained in a designated savings instrument or deposit account for a fixed period.
Part B focuses on supporting employers by incentivising the creation of additional employment across all sectors. Employers will receive incentives of up to Rs 3,000 per month for each additional employee for a period of two years, provided the employee remains in continuous employment for at least six months.
For establishments in the manufacturing sector, the incentive period will be extended to cover the third and fourth years as well.
To qualify for the employer incentives, EPFO-registered establishments must recruit at least two additional employees if they have fewer than 50 workers, or five additional employees if they employ 50 or more workers.
Payments to first-time employees under Part A will be made through Direct Benefit Transfer (DBT) using the Aadhaar Bridge Payment System (ABPS), while incentives under Part B will be credited directly to employers’ PAN-linked bank accounts.
The Regional Provident Fund Commissioner, Amritsar, urged stakeholders, employers and beneficiaries to participate in the awareness programmes and contribute to the successful implementation of the flagship employment initiative.
