PM Employment Linked Incentive Scheme C: Support to Employers

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Submitted by shahrukh on Tue, 20/08/2024 - 15:53
CENTRAL GOVT CM
Scheme Open
PM Employment Linked Incentive Scheme C: Support to Employers Logo
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.
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
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.
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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.
Employment Linked Incentive Scheme C Complete Information

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.
Employment Linked Incentive Scheme C Details

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.
Employment Linked Incentive Scheme C Support to Employers Details

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

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