PMVBRY: Good news for job seekers. Recently, the Narendra Modi government at the center launched a scheme that will provide financial assistance to first-time employees. It’s called the Pradhan Mantri Vikas Bharat Rojgar Yojana (PM-VBRY). Launched at a cost of approximately Rs 99,446 crore, the scheme aims to encourage the creation of more than 35 million jobs in the country over a period of two years. The scheme’s benefits apply to jobs created between August 1, 2025, and July 31, 2027.
The PM-VBRY scheme has two parts, one for employees and the other for companies. Targeting employees registering with the EPFO for the first time, one month’s EPF salary, up to a maximum of Rs 15,000, will be disbursed in two installments. Employees with salaries up to Rs 1 lakh will be eligible for this. The first installment will be payable after 6 months of service, and the second after 12 months of service and the employee completing a financial literacy program.
A portion of the incentive amount will be deposited in a savings or deposit account for a fixed period, and the employee will be able to withdraw it later. This government scheme also provides assistance to employers or companies. The scheme will cover additional employment generation in all sectors, with a special focus on the manufacturing sector.
Employers will receive incentives for employees with salaries up to Rs 100,000. The government will provide employers with incentives of up to Rs 3,000 per month for two years for each additional employee who has continuous employment for at least six months. The incentives for the manufacturing sector will also be extended to the third and fourth years. Establishments registered with EPFO will be required to employ at least two additional employees (for employers with less than 50 employees) or five additional employees (for employers with 50 or more employees) on a continuous basis for at least six months.