New Delhi: Surprised by the headline? But it’s absolutely true. The central government has introduced a scheme to promote employment generation. The name of the scheme is “Pradhan Mantri Viksit Bharat Rojgar Yojana (PM-VBRY).” Under this scheme, employees registering with EPFO for the first time will receive one month’s EPF wage (up to ₹15,000). This amount will be given in two installments. Employees earning up to ₹1 lakh per month will be eligible. The first installment will be provided after six months of service, and the second after 12 months of service and completion of a financial literacy program by the employee. To encourage the habit of saving, a portion of the incentive amount will be deposited in a savings instrument or account for a fixed period, which the employee can withdraw later.
The scheme was approved by the Union Cabinet chaired by Prime Minister Narendra Modi. With a budget outlay of ₹99,446 crore, PM-VBRY aims to encourage the creation of over 3.5 crore jobs in the country within two years. The benefits of this scheme will apply to jobs created between August 1, 2025, and July 31, 2027. Aimed at incentivizing employers for new employment generation, the scheme especially focuses on the manufacturing sector while providing benefits across various sectors. The scheme consists of two parts—the first, as described above, is for employees. The second part focuses on employers.
The second part covers additional job creation across all sectors, with a special emphasis on manufacturing. Employers will receive incentive amounts for employees earning up to ₹1 lakh per month. For each additional employee retained continuously for at least six months, the government will provide employers with up to ₹3,000 per month for two years. The incentive period for the manufacturing sector will be extended to the third and fourth years as well.
