PMVBRY Scheme: The PM Viksit Bharat Rozgar Yojana, launched by the Central Government, is a welfare scheme for salaried employees. The objective of this scheme is to provide employment-related incentives to the people of the country. Under this scheme, the government provides a financial incentive of ₹15,000 to employees entering the workforce for the first time.
This amount is transferred directly to their Aadhaar-linked bank accounts via the Direct Benefit Transfer (DBT) system. However, the government has laid down certain mandatory conditions for availing the benefits of this scheme.
Eligibility Criteria for Employees
To qualify for the PM Viksit Rozgar Yojana, the employee must not have previously been a contributing member of the EPFO or any exempted trust. The employee’s monthly income must be less than ₹1 lakh. Additionally, the employee must have been working with the same company for six months.
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The employee’s Universal Account Number (UAN) must be active, and verification must be completed via face authentication on the UMANG app. The employee’s bank account must be linked to Aadhaar to avail the benefits of DBT.
Who Can Avail the Benefits?
The benefits of the PM Viksit Bharat Rozgar Yojana are available to young individuals entering the organised sector workforce for the first time. Eligible employees will receive a total incentive of ₹15,000 via DBT. To receive the first instalment, the employee must complete six months of service. The second instalment will be provided after the employee has completed 12 months of employment.
Amount to be Received
Financial assistance is provided to employees starting their first job. To receive this amount, the employee’s monthly income must be up to ₹1 lakh. Under this scheme, the employee receives an incentive of ₹7,500 per instalment. This incentive is disbursed in two installments, bringing the total benefit to a maximum of ₹15,000. The incentive amount will be calculated based on one month’s EPF salary. This scheme aims to provide financial security and encouragement to employees.