Pradhan Mantri Viksit Bharat Rozgar Yojana: The Union Government has announced a direct incentive scheme of up to Rs. 15000 for first-time EPF registered employees.
Pradhan Mantri Viksit Bharat Rozgar Yojana-Terms Of The Scheme
The scheme could be availed by any Indian resident, irrespective of their gender or age, if they are newly registered with EPFO and entering formal workforce.
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To be eligible for the Pradhan Mantri Viksit Bharat Rozgar Yojana, the individual must be:
- A first-time EPF registered employee with date of joining in an establishment between August 1, 2025 and July 31, 2027 (both dates inclusive);
- Not a contributing member of EPF, either with EPFO or an exempted trust before August 1, 2025;
- Their contribution is successfully received in EPFO or an exempted trust for the first time ver for the wage month of August 2025 or thereafter;
- Must stay in employment for more than 6 months continuously;
- The monthly salary should be up to Rs. 1 lakh, inclusive of all benefits received as per the employment contract.
How Is The Incentive Calculated And Paid?
- The incentive for eligible individuals would be a maximum of Rs. 15000, equivalent to a month’s EPF wage;
- The first installment of the incentive would be paid after the 6th month of service and the second installment would be payable after the 12th month of service.
- The second installment would be deposited in a saving instrument to encourage the habit of saving among young members of the society.
To get started, you need to first obtain your universal account number via the employer or directly via the UMANG app. The incentive would be paid directly in the Aadhaar-seeded bank account. You need to successfully complete the free financial literacy program before a period of 12 months so you could receive the second incentive’s installment. For more information, you may visit the website of the Pradhan Mantri Viksit Bharat Rozgar Yojana.
