Bhubaneswar: The Ministry of Labour and Employment has announced the launch of the PM Viksit Bharat Rozgar Yojana (PM-VBRY), which is set to begin on August 1, 2025, and continue until July 31, 2027. With an allocation of Rs one lakh crore, the ambitious scheme aims to generate more than 3.5 crore new formal jobs across India, focusing especially on first-time workers registered with the Employees’ Provident Fund Organisation (EPFO).
The scheme offers significant financial incentives to both employees and employers. Eligible employees earning up to Rs 1 lakh per month will receive incentives of up to Rs 15,000 per month for joining formal jobs under EPFO registration. Employers will also be offered monthly incentives ranging from Rs 1,000 to Rs 3,000 per employee to encourage sustained hiring.
Speaking at the launch event, Regional PF Commissioner–II Maushumi Lata Padhi emphasised the government’s commitment to expanding social security and promoting financial inclusion through this initiative, aligned with Prime Minister Narendra Modi’s vision of a developed India by 2047.
The PM-VBRY is divided into two parts:
Part A: Focuses on employees joining the formal workforce for the first time. Eligible workers earning up to Rs 1 lakh will receive one month’s EPF wages (capped at Rs 15,000) in two installments — after six months and after one year of continuous employment. The scheme also includes a financial literacy programme and encourages long-term savings by depositing part of the incentive into savings instruments.
Part B: Targets employers, providing monthly incentives based on employee wages — Rs 1,000 for salaries up to Rs 10,000, Rs 2,000 for salaries between Rs 10,001 and Rs 20,000, and Rs 3,000 for salaries above Rs 20,000 up to Rs 1 lakh. Employers must create additional jobs based on their workforce size — at least two new jobs if they have fewer than 50 employees, and five if they have 50 or more. The scheme extends benefits to the manufacturing sector up to four years.
Payments to employees will be made via Direct Benefit Transfer (DBT) using the Aadhar Bridge Payment System (ABPS), while employers will receive funds directly into their PAN-linked bank accounts.
Officials present at the event included Enforcement Officer-cum-Nodal Officer Alekh Ch. Sahoo, Swosti Group Assistant Vice President Nihar Ranjan Sahoo, and GM (Corporate Communication) Nihar Ranjan Sahoo.
With the PM-VBRY, the government aims to formalise employment, provide social security, and stimulate job creation, making a significant stride toward economic growth and workforce empowerment.
