Hans News Service Vijayawada

theGovernment of India has launched the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY), formerly known as the Employment Linked Incentive (ELI) Scheme, with the objective of promoting large-scale employment generation, improving employability, and expanding social security coverage across sectors, particularly in manufacturing.

With a total financial outlay of Rs 99,446 crore, the scheme aims to facilitate the creation of more than 3.5 crore jobs nationwide over two years. Of these, nearly 1.92 crore beneficiaries are expected to be first-time entrants into the formal workforce. The benefits apply to jobs created between August 1, 2025, and July 31, 2027.

Addressing a press briefing at the EPFO zonal office here on Wednesday, Andrew Prabhu, additional Central Provident Fund commissioner and Abdul Khader, Regional Provident Fund Commissioner-II, explained the significance and implementation of the scheme.

Under Part A, first-time employees registered with EPFO and earning up to Rs 1 lakh per month are eligible for an incentive equivalent to one month’s wage, up to Rs 15,000, paid in two instalments after six and twelve months of continuous service. The second instalment is linked to completion of a financial literacy programme.

Under Part B, employers will receive incentives of up to Rs 3,000 per month per additional employee for two years. Manufacturing sector employers will receive the benefit for an additional two years. The incentives are aimed at encouraging sustained employment and formal workforce expansion.

To mark the successful implementation of the scheme, a national-level event will be held at Vigyan Bhawan, New Delhi, on Friday, in the presence of the Prime Minister. Benefits worth approximately Rs 2,400 crore will be disbursed to eligible beneficiaries. In the erstwhile Krishna district, a regional event will be organised at VR Siddhartha Engineering College, Kanuru, with participation from public representatives, industry leaders, employers, employees and EPFO officials.