Overview

• Officials have finalized scheme guidelines and directed EPFO and payment platforms to complete system upgrades ahead of the August 1 launch.
• Part A will award first-time EPFO-registered employees earning up to ₹1 lakh monthly a one-month EPF contribution of up to ₹15,000, disbursed in two installments after six and twelve months of service.
• Part B offers employers a wage subsidy of up to ₹3,000 per additional hire earning up to ₹1 lakh per month for two years, with an extension to four years for manufacturing sector hires that meet six-month retention thresholds.
• All employee incentives will be delivered via Aadhaar-based direct benefit transfers and employer subsidies will be routed to PAN-linked bank accounts.
• Ministries and industry associations are aligning recruitment targets and compliance processes to formalize over 3.5 crore jobs and expand social security coverage.