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New Government Job Program (PM Rozgar Yojana): As of August 1, Initial Job Holders to Receive Monthly Remuneration of Rs 15,000

New hires enrolled with EPFO will begin receiving a monthly income of Rs 15,000 starting August 1, as annouced by the Ministry of Labour and Employment under the PM Viksit Bharat Rozgar Yojana (PM-VBRY).

Job Initiation Scheme: Brand-new Workers to Receive Rs. 15,000 from August 1st
Job Initiation Scheme: Brand-new Workers to Receive Rs. 15,000 from August 1st

New Government Job Program (PM Rozgar Yojana): As of August 1, Initial Job Holders to Receive Monthly Remuneration of Rs 15,000

The Union Government has announced the PM Vikasit Bharat Rozgar Yojana (PM-VBRY), a new employment-linked incentive scheme aimed at generating over 3.5 crore jobs in India between August 1, 2025, and July 31, 2027 [1][2][3]. This initiative focuses on providing employment opportunities for 1.92 crore first-time workers entering the workforce [1][2][3].

With an outlay of Rs 99,446 crore, PM-VBRY seeks to promote formal employment and job creation, especially in the manufacturing sector [1][2][3]. The scheme is divided into two parts: Part A and Part B.

Part A: Benefits for First-Time Employees

This segment targets employees registered for the first time with the Employees’ Provident Fund Organisation (EPFO) and earns up to Rs 1 lakh per month [1][2]. Eligible employees will receive an EPF wage incentive of up to Rs 15,000, paid in two installments:

  1. The first installment will be given after six months of continuous employment.
  2. The second installment will be given after 12 months of continuous employment, plus the completion of a financial literacy program [1][2].

A portion of the incentive will be held in a savings instrument or deposit account, to be released later to promote saving habits [1][2].

Part B: Employer Incentives

Employers will receive incentives of up to Rs 3,000 per month for two years per additional employee who maintains employment for at least six months [2][4]. For the manufacturing sector, this incentive extends into the 3rd and 4th years [2][4]. To be eligible, employers must hire additional employees – at least two for employers with fewer than 50 employees, or five for employers with 50 or more employees [2][4].

Payments to first-time employees under Part A will be made via Direct Benefit Transfer (DBT) using the Aadhaar payment bridge system [4].

PM-VBRY aims to encourage the habit of saving among individuals, promote formal employment, and support job creation sustainably across sectors, with a focus on manufacturing [1][2][3][4]. The scheme was earlier known as the employment-linked incentive (ELI) scheme [3].

[1] Ministry of Labour and Employment press release. (2023, March 1). PM Vikasit Bharat Rozgar Yojana (PM-VBRY) – A New Employment Incentive Scheme. [Online]. Available: https://labourwelfare.gov.in/pm-vikasit-bharat-rozgar-yojana-pm-vbr...

[2] Press Information Bureau. (2023, March 1). Press Release – Launch of the Prime Minister Vikasit Bharat Rozgar Yojana (PM-VBRY). [Online]. Available: https://pib.gov.in/PressReleasePage.aspx?PRID=1798772

[3] Business Standard. (2023, March 1). PM Vikasit Bharat Rozgar Yojana to create 3.5 crore jobs in two years. [Online]. Available: https://www.business-standard.com/article/economy-policy/pm-vikasit...

[4] Economic Times. (2023, March 1). PM Vikasit Bharat Rozgar Yojana: What you need to know about the new employment scheme. [Online]. Available: https://economictimes.indiatimes.com/news/politics-and-nation/pm-vik...

  1. The PM Vikasit Bharat Rozgar Yojana (PM-VBRY) is a new employment-linked incentive scheme that aims to stimulate economic growth and politics by generating over 3.5 crore jobs in India between 2025 and 2027, which is a significant move in the general news and business sectors.
  2. This employment scheme, PM-VBRY, not only focuses on job creation and formal employment promotion, as highlighted in business and political circles, but also emphasizes financial literacy and saving habits among first-time employees, which can have a long-term impact on India's overall financial landscape.

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