Consider the following statements about the Pradhan Mantri Viksit Bharat Rozgar Yojana -
- The scheme provides direct cash incentives to both employees and employers to promote formal job creation.
- Under Part A, first-time employees registered with EPFO are eligible for a one-month EPF wage up to ₹15,000, disbursed in two installments.
- Employers in the manufacturing sector receive incentives for new employees for up to four years, while other sectors receive incentives for two years.
- The scheme mandates that employees complete a financial literacy program before receiving the second installment of the incentive.
Which of the statements given above are correct?
Explanation - The Pradhan Mantri Viksit Bharat Rozgar Yojana provides direct cash incentives to eligible employees and employers to boost formal job creation. Under Part A, first-time employees registered with EPFO receive one-month EPF wage up to Rs 15,000 in two installments. The 1st installment is payable after 6 months of service and the 2nd installment after 12 months of service and completion of a financial literacy program. Employers receive incentives up to Rs 3,000 per month for two years for each additional employment sustained for at least six months. For the manufacturing sector, incentives are extended to the 3rd and 4th years as well.
Explanation - The Pradhan Mantri Viksit Bharat Rozgar Yojana provides direct cash incentives to eligible employees and employers to boost formal job creation. Under Part A, first-time employees registered with EPFO receive one-month EPF wage up to Rs 15,000 in two installments. The 1st installment is payable after 6 months of service and the 2nd installment after 12 months of service and completion of a financial literacy program. Employers receive incentives up to Rs 3,000 per month for two years for each additional employment sustained for at least six months. For the manufacturing sector, incentives are extended to the 3rd and 4th years as well.