Overview

• The scheme, formerly known as the Employment Linked Incentive programme, was renamed PM Viksit Bharat Rozgar Yojana and will take effect on August 1 with a ₹99,446 crore allocation.
• First-time EPFO-registered workers earning up to ₹100,000 a month will receive one month of EPF contributions capped at ₹15,000 in two instalments after six and 12 months, with part of the payout held in a fixed deposit to promote savings and contingent on completing financial literacy training.
• EPFO-registered employers must hire at least two additional workers (if under 50 staff) or five (if 50 or more) and retain them for six months to qualify for monthly subsidies of up to ₹3,000 per hire for two years, extending to four years for manufacturing hires.
• Payments to employees will be made via Direct Benefit Transfer through the Aadhaar Bridge Payment System and employer incentives will be credited to PAN-linked accounts after EPFO system upgrades.
• Awareness campaigns have already commenced in regions such as North Bengal’s Siliguri tea belt to mobilize employers and workers ahead of the rollout.