The Regional Provident Fund Commissioner (RPFC), Amritsar, will conduct regional-level awareness programmes under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) on June 19. The events will take place at Sri Guru Harkrishan International School, D-Block, Ranjit Avenue, Amritsar, and Shiv Kumar Batalvi Auditorium, Guru Teg Bahadur Colony, Batala.
About the PMVBRY Scheme
The Union Government recently launched PMVBRY, formerly known as the Employment Linked Incentive (ELI) Scheme. Its objectives include promoting employment generation, enhancing employability, and expanding social security coverage across all economic sectors, particularly manufacturing.
Incentives for First-Time Employees
Under the scheme, first-time employees will receive an incentive equivalent to one month's wages, subject to a maximum of Rs 15,000. Employers will receive financial support for creating additional jobs. Manufacturing sector employers will get extended benefits for an additional two years.
Components of the Scheme
The scheme comprises two parts. Part A targets first-time employees registered with the Employees' Provident Fund Organisation (EPFO) who earn up to Rs 1 lakh per month. Eligible employees will receive the incentive in two instalments: the first after six months of continuous service, and the second after 12 months of service and completion of a financial literacy programme. To encourage long-term savings among young workers, a portion of the incentive will be retained in a designated savings instrument or deposit account for a fixed period.
Part B focuses on supporting employers by incentivising the creation of additional employment across all sectors. Employers will receive incentives of up to Rs 3,000 per month for each additional employee for two years, provided the employee remains in continuous employment for at least six months. For manufacturing sector establishments, the incentive period extends to cover the third and fourth years.
To qualify for employer incentives, EPFO-registered establishments must recruit at least two additional employees if they have fewer than 50 workers, or five additional employees if they employ 50 or more workers.
Payment Mechanism
Payments to first-time employees under Part A will be made through Direct Benefit Transfer (DBT) using the Aadhaar Bridge Payment System (ABPS). Incentives under Part B will be credited directly to employers' PAN-linked bank accounts.
The Regional Provident Fund Commissioner, Amritsar, urged stakeholders, employers, and beneficiaries to participate in the awareness programmes and contribute to the successful implementation of this flagship employment initiative.
