Centre will implement three schemes for “employment- linked incentive” as part of the Prime Minister’s package.
These will be based on enrolment in the Employees’ Provident Fund Organisation (EPFO),
Focus on recognition of first-time employees, and support to employees and employers
One-month wage to all newly employed workers in all formal sectors.
DBT of one-month salary in three instalments to first-time employees, will be up to ₹15,000
The eligibility limit will be a salary of ₹1 lakh per month
Second scheme proposed will incentivise additional employment in the manufacturing sector
linked to the employment of first-time employees with respect to their EPFO contribution in the first four years.
The scheme is expected to benefit 30 lakh youth entering employment, and their employers
Third scheme will cover additional employment in all sectors and the government will reimburse employers up to ₹3,000 per month for two years towards their EPFO contribution for each additional employee
Fourth scheme is to skill 20 lakh youth over a five-year period.
A thousand Industrial Training Institutes will be upgraded in hub-and-spoke arrangements with outcome orientation
The fifth scheme, one crore youth will get internship opportunities for 12 months in 500 top companies in the next five years.
The government will provide an internship allowance of ₹5,000 per month and a one-time assistance of ₹6,000
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