Launched on August 15, 2025, by Prime Minister Narendra Modi, the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) is a transformative employment-linked incentive scheme aimed at generating over 3.5 crore jobs across India by 2027. With a substantial financial outlay of approximately ₹99,446 crore, the scheme seeks to formalize employment, enhance social security, and promote sustainable economic growth.
Key Components of PMVBRY
1. Part A – Incentives for First-Time Employees
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Eligibility Criteria:
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Individuals securing their first job in the private sector between August 1, 2025, and July 31, 2027.
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Must be registered with the Employees’ Provident Fund Organisation (EPFO).
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Monthly salary up to ₹1 lakh.
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Not previously a member of an EPFO-registered establishment.
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Incentive Structure:
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A one-time incentive of up to ₹15,000, disbursed in two installments:
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First installment: After 6 months of continuous employment.
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Second installment: After 12 months, contingent upon the completion of a financial literacy program.
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A portion of the second installment is credited to a designated savings account to encourage long-term savings habits.
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2. Part B – Incentives for Employers
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Eligibility Criteria:
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Employers registered with EPFO.
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Must create additional employment opportunities by hiring new employees.
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Incentive Structure:
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Employers are eligible for an incentive of up to ₹3,000 per month per new employee, provided the employment is sustained for a minimum of 6 months.
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For manufacturing sector employers, the incentive extends up to 4 years, whereas, for other sectors, it is available for 2 years.
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To qualify, employers must hire at least 2 new employees if their workforce is under 50, and 5 new employees if their workforce is 50 or more.
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Implementation and Monitoring
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Registration and Application:
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Both employees and employers must register through the official PMVBRY Portal https://pmvbry.epfindia.gov.in/
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The portal facilitates the submission of applications, tracking of incentives, and dissemination of information related to the scheme.
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Payment Mechanism:
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Employees: Incentives are transferred directly to the beneficiaries’ bank accounts via the Aadhaar Bridge Payment System (ABPS).
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Employers: Incentives are credited to the employers’ PAN-linked accounts.
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Monitoring and Compliance:
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The Employees’ Provident Fund Organisation (EPFO) is responsible for overseeing the implementation and ensuring compliance with the scheme’s guidelines.
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Regular audits and assessments are conducted to maintain transparency and accountability.
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Anticipated Impact
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Job Creation: The scheme aims to create over 3.5 crore jobs, contributing significantly to reducing unemployment rates and fostering economic development.
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Formalization of Employment: By incentivizing the registration of new employees with EPFO, the scheme promotes the formalization of the labor market, ensuring better social security coverage.
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Economic Growth: The creation of new jobs and the encouragement of formal employment are expected to stimulate economic activities, leading to enhanced productivity and growth.
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Empowerment of Youth and Women: The scheme is particularly beneficial for young individuals and women entering the workforce, providing them with financial support and stability.
The Pradhan Mantri Viksit Bharat Rozgar Yojana stands as a testament to the government’s commitment to fostering a robust and inclusive employment ecosystem in India. By offering targeted incentives to both employees and employers, the scheme aims to bridge skill gaps, promote job creation, and pave the way for a developed India by 2047.
For more information and to apply, visit the official PMVBRY Portal https://pmvbry.epfindia.gov.in/
