Highlights
- Normal Benefits :-
- Reimbursement of EPFO Contribution of Employer for 2 Years for additional employee hired.
- Maximum of Rs. 3,000/- per Month will be Reimbursed to Employer under this scheme.
- Extended Benefits :-
- Reimbursement will be done quarterly for previous quarter if Employer created more than 1,000 jobs.
- Reimbursement will also continue for 3rd and 4th year.
Website
Customer Care
- PM Employment Linked Incentive Scheme C: Support to Employers Helpline Nuumbers along with other contact details will be soon released by the Government.
Overview of the Scheme |
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Name of Scheme | PM Employment Linked Incentive Scheme C: Support to Employers. |
Launched Year | 2024. |
Scheme Period | 2 Years. |
Benefits | Reimbursement of Employer EPFO Contribution for 2 Years. |
Beneficiaries | Employer and First Time Employees of Manufacturing Sector. |
Nodal Department | Not known yet. |
Subscribe | Subscribe here to get Update Regarding Scheme |
Mode Of Apply | Through Employment Linked Incentive Scheme C: Support to Employers Application Form. |
Introduction
- Finance Minister Nirmala Sitharaman presents the Union Budget in Parliament on 23rd of July 2024.
- To fight employment and to generate jobs, she announced Prime Minister's Package for Employment and Skilling.
- Prime Minister's Package for Employment and Skilling consists 5 Sub schemes.
- One of the schemes to benefit job provider is "Employment Linked Subsidy Scheme C: Support to Employers.
- The main objective of this scheme is to encourage employers of country to generate more and more job opportunities for the youth of country.
- Government of India will now reimburse the EPFO Contribution of a Employer under Scheme C: Support to Employers.
- Rs. 3,000/- per month EPFO contribution will be reimbursed to Employer under this scheme.
- Benefits of Reimbursement of EPFO contribution will only applicable for those Employers who increase the employment in their establishment above baseline.
- Here baseline means, Hire the EPFO Employees more than the number of previous year.
- Employers has to hire minimum 2 employees in case of less than 50 employees.
- However if establishment has more than 50 employees then employer has to hire minimum 5 employees in order get the benefit of Employment Linked Subsidy Scheme C: Support to Employer.
- If Employer generates more than 1,000 jobs then he will get additional benefits under this scheme.
- This scheme is only operational for 2 years subject to extend with proper approval from Government.
- It is to be expected that more than 50 lakh persons will get the benefit of Scheme C of Employment Linked Incentive which is mainly to support employers.
- Budget of Rs. 32,000/- crore will be sanctioned for the better implementation of this scheme.
- Application Form, Application Process and Remaining Eligibility Criteria of Employment Linked Incentive Scheme C: Support to Employer will be released soon with its guidelines.
- We will update it here as soon as we get any information about this scheme.
Benefits of the Scheme
- Employer will receive the following benefits under Indian Government's Employment Linked Incentive Scheme C: Support to Employers :-
- Normal Benefits :-
- Reimbursement of EPFO Contribution of Employer for 2 Years for additional employee hired.
- Maximum of Rs. 3,000/- per Month will be Reimbursed to Employer under this scheme.
- Extended Benefits :-
- Reimbursement will be done quarterly for previous quarter if Employer created more than 1,000 jobs.
- Reimbursement will also continue for 3rd and 4th year.
- Normal Benefits :-
Eligibility Criteria
- Reimbursement of EPFO contribution to Employer under Employment Linked Incentive Scheme C: Support to Employers will only granted if Employer fulfil the following eligibility criteria :-
- Employers of all Sector are Eligible.
- Employer should increase the Employment every year above baseline. (More Employee than Previous Year's Number of EPFO Employee)
- The number of Employee increased by the Employer every year should be :-
- 2. (If Employer has Less than 50 Employees)
- 5. (If Employer has more than 50 Employees)
- Salary of Employer's Employee should not be more than Rs. 1,00,000/- per month.
- Employer can also recruit Non First Timers (Already Registered in EPFO) Employee.
Documents Required
- Documents that might be needed at the time of availing the benefit of PM's Employment Linked Incentive Scheme C: Support to Employers are as follows :-
- Registration Details of Employer.
- Employer Photograph.
- EPFO Registration Details of Employer.
- Complete Buora of Hired Employee.
- Employer Bank Account Details.
How to Apply
- Finance Minister Smt. Nirmala Sitharaman presents Union Budget on 23rd of July 2024 and announced Employment Linked Incentive Scheme C for Support to Employers.
- This is just an announcement yet and concerned department of Government of India will soon draft the Guidelines of Employment Linked Incentive Scheme C: Support to Employers.
- Cabinet will approve it then and give its nod to launch this scheme in whole country to provide support to employers.
- PM Employment Linked Incentive Scheme C: Support to Employers application procedure is not available right now.
- Employment Linked Incentive Scheme C: Support to Employers application process will be clear after the release of its guidelines.
- Mode of Application is decided by Government of India whether to accept applications through Offline Application Form or through Online Application Form.
- Employment Linked Incentive Scheme C: Support to Employers Website might also be launch for employer to apply and claim the reimbursement.
- As soon as we get any update about the application process of Employment Linked Incentive Scheme C for Support to Employers, we will update the same.
Important Links
- PM Employment Linked Incentive Scheme C: Support to Employers Application Form and its guidelines will be released by the concerned department very soon.
Contact Details
- PM Employment Linked Incentive Scheme C: Support to Employers Helpline Numbers along with other contact details will be soon released by the Government.
Person Type | Scheme Type | Govt |
---|---|---|
Matching schemes for sector: Job
Sno | CM | Scheme | Govt |
---|---|---|---|
1 | Agnipath Scheme | CENTRAL GOVT | |
2 | PM Employment Linked Incentive Scheme A: First Timers | CENTRAL GOVT | |
3 | PM Employment Linked Incentive Scheme B: Job Creation in Manufacturing | CENTRAL GOVT | |
4 | Bima Sakhi Yojana | CENTRAL GOVT |
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