The central government had announced in the budget that ₹15,000 will be given separately to the youth who join a job for the first time in the country. Recently, a budget of ₹99,446 crore was also approved for the Employment-Linked Incentive (ELI) scheme. Now, there has been a big change in this ambitious scheme of the Modi government. The name of the scheme has been changed to PM Vikasit Bharat Rojgar Yojana (PM-VRBY).
According to the Ministry of Labor and Employment, under this scheme, from August 1, 2025, all employees who join EPFO for the first time will get ₹15,000 from the government in addition to their salary. Earlier, this scheme was known as Employment-Linked Incentive (ELI), but now its name has been changed. The aim of this scheme is to provide jobs to new employees and encourage them to save.
New Employees Will Get Money in Two Installments
The PM-VBRY scheme has been designed for new employees. Those who register for the first time in EPFO will get salary along with PF of up to ₹15,000 per month in two installments. The first condition is that the employee must work for at least 6 months. Only after this will the first installment be given. The second installment will be given after completing 12 months of the job and finishing the financial literacy program. People earning up to ₹1 lakh per month will also get the benefit of this scheme.
Companies Will Also Get Money
This scheme will also encourage companies to create new jobs in different sectors. The government will give ₹3,000 per employee every month to the companies. This amount will be given for a maximum of 2 years for each new employee who works for at least 6 months. For the manufacturing sector, the benefit will also be available in the third and fourth year.
Conditions for Companies
To get the benefit of this scheme, companies must meet some conditions. If a company has less than 50 employees, it must hire at least 2 new employees. If there are more than 50 employees registered with EPFO, the company must hire at least 5 new employees. These employees must work for at least 6 months. The government aims to create more than 3.5 crore jobs in the country in two years through this scheme. Out of these, 1.92 crore will be first-time workers. The scheme will apply to jobs created between August 1, 2025, and July 31, 2027.