EPFO: Government to provide ₹15,000 for your first job; ₹7,500 after 6 months of employment

If you are starting your first job, you may be eligible for an incentive of ₹15,000 under the 'Pradhan Mantri Viksit Bharat Rozgar Yojana' (PM-VBRY). However, you must first meet several specific conditions to qualify.

After completing their college education, most young people enter the workforce. Since starting salaries are often modest, new employees must manage their finances carefully. Imagine the relief of receiving ₹15,000 in government assistance during your very first job—a government scheme could prove to be a great help for those just beginning their careers.

Under the 'Pradhan Mantri Viksit Bharat Rozgar Yojana' (PM-VBRY), eligible employees can receive an incentive of up to ₹15,000. Please note that this benefit is not available to everyone; one must first fulfill certain mandatory requirements. Therefore, it is important to understand the conditions associated with this scheme.

What are the requirements?

To avail of the benefits of this scheme, specific criteria must be met. For instance, the employment must commence between August 1, 2025, and July 31, 2027. Additionally, the employee's gross monthly salary must not exceed ₹1 lakh.

Mandatory EPFO ​​Registration

There are several other conditions as well. The company or organization where the individual is employed must be registered with the EPFO. Most importantly, this scheme is intended for employees who are joining the EPFO ​​system for the first time. Furthermore, the incentive is not disbursed as a lump sum; to qualify for the first installment, you must remain employed continuously for 6 months.

How much will you receive in the first installment?

The funds under this scheme are disbursed in installments rather than as a lump sum. For the first installment, an employee may receive up to ₹7,500, provided they have been employed continuously for 6 months. It should be noted, however, that not every employee is guaranteed to receive ₹7,500 as the first installment; the actual amount depends on the individual's salary and the specific rules of the scheme.

Will the full amount be provided in the second installment?

To avail of the full benefit of ₹15,000, an employee must meet certain conditions. Additionally, the employee is required to complete a specific course to qualify for the disbursement.

Which course must be completed?

To receive the ₹15,000, an employee must complete a prescribed course on financial literacy. Furthermore, just as 6 months of continuous employment is required for the first installment, the employee must complete 1 year of continuous employment to qualify for the second installment. Failure to meet these requirements will result in the employee being ineligible for the second installment.

Other important conditions

To benefit from the scheme, an employee must have a bank account linked to their Aadhaar; the incentive funds are deposited into this account. Additionally, the employee must be a resident of India.

How to apply?

There is no separate application process to avail of the benefits under the 'Pradhan Mantri Viksit Bharat Rozgar Yojana' (PM-VBRY). Upon securing their first job, an employee simply needs to generate a UAN (Universal Account Number) via the UMANG app. To facilitate the scheme, the employer must register online through the official PM-VBRY portal. Employees, in turn, must ensure they fulfill all the necessary criteria to qualify for the scheme's benefits.