Pradhan Mantri Viksit Bharat Rozgar Yojana: Key Features
The Prime Minister of India disbursed incentives amounting to approximately ₹2,400 crore under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY).
- Pradhan Mantri Viksit Bharat Rozgar Yojana is a flagship employment generation scheme launched by the Government of India to encourage job creation in the formal sector.
- The scheme provides financial incentives to employers and first-time employees, promoting increased enrollment in the Employees’ Provident Fund Organisation (EPFO).
- It aims to boost employment opportunities, strengthen social security coverage, and support the vision of a developed India by 2047.
Key Features of Pradhan Mantri Viksit Bharat Rozgar Yojana:
- Part A – Support to First-Time Employees:
- Targeting first-time employees registered with EPFO, this Part will offer one-month EPF wage up to Rs 15,000 in two installments.
- Employees with salaries up to Rs 1 lakh will be eligible for the incentives.
- All payments to the First Time Employees under Part A of the Scheme will be made through DBT (Direct Benefit Transfer) mode using Aadhar Bridge Payment System (ABPS).
- Part B – Incentives for Employers:
- This part will encourage generation of additional employment in all sectors, with a special focus on the manufacturing sector.
- The employers will get incentives in respect of new employees with salaries up to Rs 1 lakh.
- The Government will incentivize employers, up to Rs 3000 per month, for two years, for each additional employment, sustained for at least six months.
- For the manufacturing sector, incentives will be extended to the 3rd and 4th years as well.
- Payments to the Employers under Part B will be made directly into their PAN-linked Accounts.
