What is EPFO's Employment-Linked Incentive Scheme? Which employees will get their benefits and how?

Recently, the government has launched the Employment Linked Incentive Scheme, which will be operated by EPFO. Know about this scheme from Rajiv Bisht, Additional Central Provident Fund (EPF) Commissioner, Punjab and Himachal Pradesh Zone.

Recently, the Central Government has launched the Employment Linked Incentive (ELI) scheme to increase employment opportunities in the country. Under this incentive scheme, the Central Government will give Rs 15000 to the youth who are working for the first time. The scheme will be operated by the Employees' Provident Fund Organization (EPFO). Know about this scheme from Rajiv Bisht, Additional Central Provident Fund (EPF) Commissioner, Punjab and Himachal Pradesh Zone.

Understand who will get the benefit

According to Rajiv Bisht, the ELI scheme will be operated by the Employees' Provident Fund Organization (EPFO). Meanwhile, all the jobs created will be benefited. The scheme has two parts. The first part includes those youths who are employed for the first time and are registered with EPFO. They will be given incentives by the government. This scheme will benefit those newly employed youths whose salary is up to Rs 1 lakh per month. They will get one month's EPF salary amount of Rs 15,000 in two installments.

Employers will also get assistance

Central Provident Fund Commissioner Rajiv Bisht said, ESI scheme has been implemented from 1 August to 31 July 2027. This means that the youth joining after August 1 will be given financial assistance by the government. The company has been kept in the second part of the scheme. The company will also be given assistance by the central government for hiring new employees, which will be up to Rs 3,000 per month.

Government will conduct this course after the second installment

This scheme will be valid for two years, but employers who are involved in manufacturing will get the benefit of this scheme for an additional two years i.e. four years." Rajiv Bisht said, "The government will also provide financial awareness courses to new employees. Under this, they will be encouraged to save. This course will have to be done after the second installment of the incentive amount. Under this scheme, the government is trying to create new employment in the country.

What is the purpose of the scheme?

Let us tell you that the Modi government had announced the incentive scheme for the youth in the last budget. This scheme is a part of the package of 5 schemes of PM Modi, under which a total of 4.1 crore youth are to be provided employment, skill development and other facilities. Its purpose is to prepare a skilled workforce for the future in the country and encourage youth for employment.