To achieve the vision of Viksit Bharat@2047, the Government of India in the Budget 2024 – 2025 announced the Scheme of ‘Employment Linked Incentives’ as a part of the “Prime Minister’s Package for Employment and Skilling”.
The scheme focuses on generating employment, enhancing employability and promoting formalization of the workforce. The scheme consists of two parts, part A incentivizes the youth entering the workforce for the first time and part B incentivizes the employers for generating & sustaining employment.
If you’re entering the formal workforce and newly registered with EPFO, the Government of India will support you with a direct incentive of upto Rs. 15,000, paid in two parts
Any employee
This component of the scheme is designed to boost employment generation, with a special emphasis on the manufacturing sector. It is an establishment-focused initiative that incentivises the creation of sustained employment across all sectors by providing benefits to eligible establishments for a period of two years. The incentive period for the manufacturing sector is additional 2 years, i.e a total of 4 years.
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