PM Viksit Bharat Rozgar Yojana

Prime Minister Shri Narendra Modi announced the PM Viksit Bharat Rozgar Yojana to boost Youth employment in his Independence Day address.

What is it?: It is a national employment-linked incentive scheme as part of the Viksit Bharat initiative to promote job creation in the formal sectors, especially the manufacturing sector.
Nodal Ministry: Comes under the aegis of the Ministry of Labour and Employment.
Financial Outlay: Total financial outlay of 99,446 Crore rupees through the 2025-27 period.
Objectives:
- Creation of 3.5 crore new jobs, including 1.92 crore first-time workers.
- Promote inclusive and sustainable job creation in India.
- Incentivize employers to hire new workers.
- Support the entry of first-time workers into the labour force.
Key Features:
- Incentive for first-time employees:
  - Employees joining an EPFO-registered establishment for the first time will receive One-month EPF wage (up to ₹15,000) in two installments.
  - Employees must create a Universal Account Number (UAN) linked to Aadhaar using face authentication via the UMANG app.
- Incentive for employers:
  - Employers registered with EPFO who hire additional eligible staff can receive up to ₹3,000 per month per new hire.
  - To qualify, companies with fewer than 50 employees must hire at least two extra workers, while those with 50 or more employees must hire at least five additional workers.

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