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Context:
The PM Viksit Bharat Rozgar Yojana (PM-VBRY) is a new national scheme aimed at boosting formal sector employment, replacing the earlier Employment Linked Incentive (ELI) Scheme. It will be implemented from 1st August 2025.
Key Details
- Ministry: Ministry of Labour and Employment
- Scheme Launch: 1 August 2025
- Implementation Period: 2025–2027
- Total Outlay: ₹99,446 crore
- Target: Over 3.5 crore new jobs, including 1.92 crore first-time workers
Objectives
- Encourage inclusive and sustainable job creation
- Support first-time formal sector employees
- Provide financial incentives to employers for hiring new staff, especially in manufacturing
Key Features
Part A: Incentive for First-Time Employees
- Eligibility: New EPFO-registered workers with monthly wages up to ₹1 lakh
- Incentive: Equivalent to one-month EPF wage (capped at ₹15,000)
- Installment Plan:
- 1st installment: After 6 months of continuous service
- 2nd installment: After 12 months + completion of financial literacy training
- Savings Component: A portion will be locked in a deposit account
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Part B: Incentive for Employers
- Eligibility:
- For entities with <50 employees: must hire 2+ new employees
- For entities with ≥50 employees: must hire 5+ new employees
- Incentive Slabs(per employee/month):
- ₹1,000 for wages ≤ ₹10,000
- ₹2,000 for wages ₹10,001–₹20,000
- ₹3,000 for wages ₹20,001–₹1,00,000
- Tenure:
- 2 years for all sectors
- 4 years for manufacturing sector
Payment Mechanism
- To Employees: Through Direct Benefit Transfer (DBT) via Aadhar-Based Payment System (ABPS)
- To Employers: Paid to PAN-linked bank accounts
