Description

The Government of India rolled out the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) on 15 August 2025 to expand formal sector employment. Managed by the Employees’ Provident Fund Organisation (EPFO), the scheme carries a financial outlay of Rs 99,446 crore and aims to generate over 3.5 crore jobs within two years by incentivising both workers and employers.

Key Objectives

The initiative is designed to formalise employment, support organised sector growth, and create new job opportunities. It provides direct financial incentives to encourage hiring while also motivating employees to continue in formal jobs. Additionally, it integrates financial literacy and savings awareness to ensure long-term benefits for workers.

Benefits For Employees

• Eligible employees are those who join an EPFO-registered company for the first time after 15 August 2025, with a monthly salary of up to Rs 1 lakh.

• They receive up to Rs 15,000, released in two instalments:

  • First instalment after six months of continuous service.

  • Second instalment after 12 months, subject to completing a financial literacy course.

• Part of the second instalment is deposited into a dedicated savings account to promote financial discipline.

Benefits For Employers

• Employers registered under EPFO hiring additional eligible workers can claim up to Rs 3,000 per employee per month.

• The incentive duration is two years for most sectors and up to four years for manufacturing units.

• Eligibility conditions:

  • Firms with fewer than 50 employees must hire at least two new workers.

  • Firms with 50 or more employees must hire at least five additional workers.

Eligibility & Registration

• Employees must generate a Universal Account Number (UAN) linked to Aadhaar using face authentication on the UMANG app. No separate application is needed as eligibility is determined automatically during EPFO registration.

• Employers are required to obtain an EPFO code via the Shram Suvidha Portal and register through the EPFO employer login portal. They must file monthly ECRs with PF contributions and retain new hires for at least six months.

Fund Transfer Mechanism

• Employees receive benefits directly in Aadhaar-linked bank accounts through DBT (Direct Benefit Transfer).

• Employers are credited every six months into PAN-linked company accounts.

• Incentives are tied to compliance and job retention, ensuring accountability.

Expected Impact

The scheme is expected to significantly boost formal employment opportunities, especially for small and medium enterprises (SMEs). It promotes job stability, financial inclusion, and long-term security for workers by blending employment benefits with savings and literacy initiatives. PM-VBRY is likely to play a crucial role in shaping a resilient and future-ready workforce.

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