Budget 2024: Three Schemes Announced For Employment Linked Incentives

Jul 23, 2024 Toshani Adhikary

Three employment-linked projects were presented by Finance Minister Nirmala Sitharaman as part of the Prime Minister's budget package

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These schemes promote job creation and provide significant benefits to employees and employers

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Here are the three schemes under 'Employment Linked Incentives'

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First-time employees in all formal sectors will receive their first month's wage in three installments, totaling up to Rs 15,000

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Providing incentives to both employees and employers based on their EPFO contributions during the first four years of employment

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Reimbursement of EPFO contributions for employers up to Rs 3,000 per month for two years

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