Key Points
- ₹15,000 one-time incentive for first-time EPFO registrants under PMVRY scheme
- Available only to employees making their first entry into formal sector employment
- Registration required at pmvry.labour.gov.in after EPFO account activation
- Online application process can be completed from home without physical documentation
- Scheme targets youth entering organized workforce to encourage formal employment
- Benefit disbursed directly to bank account linked with EPFO and Aadhaar
The Ministry of Labour and Employment officially announced the incentive through its Twitter handle, confirming that the Pradhan Mantri Viksit Bharat Rozgar Yojana will provide ₹15,000 to individuals starting their first formal employment. According to the ministry’s notification, this benefit is exclusively available to those who are registering with the Employees’ Provident Fund Organization for the first time, marking their entry into the organized sector workforce. The scheme, launched as part of the government’s Viksit Bharat initiative, aims to encourage youth employment and formalization of the workforce. The incentive serves as a welcome gift for new employees while promoting the benefits of EPFO membership, which includes retirement savings, pension benefits, and insurance coverage under the EDLI scheme.
Eligibility Criteria and Target Beneficiaries
To qualify for the ₹15,000 incentive, applicants must meet specific eligibility requirements. The primary condition is that the employee must be registering with EPFO for the first time, meaning they should not have any previous EPFO account or Universal Account Number. The scheme targets young professionals aged 18 to 35 who are entering their first formal job in the organised sector. Both government and private sector employees are eligible, provided their employer is registered under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. The benefit is available only once per individual and cannot be claimed again if the employee changes jobs. Additionally, the employee’s Aadhaar number must be linked to their bank account and EPFO profile for successful disbursement. The scheme is particularly beneficial for fresh graduates, diploma holders, and skilled workers from economically weaker sections who are entering the formal economy for the first time.
Application Process and Documentation
The application process for the PMVRY incentive is entirely digital and can be completed online from the comfort of your home. After starting a new job and opening your EPFO account, you must visit the official portal pmvry.labour.gov.in to register for the scheme. The process requires minimal documentation, primarily your UAN, Aadhaar number, bank account details, and mobile number linked with both. The portal uses OTP verification for authentication, eliminating the need for physical paperwork. Applicants must complete the registration within 90 days of their EPFO account activation to be eligible. The system automatically verifies your first-time status by checking EPFO databases, so no additional certificates are required. The online interface is available in multiple languages including Hindi, English, Tamil, Telugu, Bengali, and Marathi to ensure accessibility across different regions. Technical support is available through a toll-free helpline and email assistance for applicants facing difficulties.
Benefit Disbursement and Timeline
Once the online registration is completed and verified, the ₹15,000 incentive is disbursed directly to the bank account linked with the employee’s EPFO profile. The verification process typically takes 15 to 30 working days, during which the EPFO and Labour Ministry cross-check the applicant’s details and first-time status. The benefit is transferred as a one-time, tax-free incentive, though recipients should consult tax advisors regarding their specific circumstances. The government has allocated ₹2,500 crore for the scheme in the current fiscal year, aiming to benefit approximately 16.67 lakh first-time employees. The disbursement is processed in batches, with payments typically released at the end of each month. Employees can track their application status through the PMVRY portal using their UAN and registered mobile number. In case of rejection, applicants receive detailed reasons and can appeal within 30 days through the same portal.
Significance and Impact on Employment
The PMVRY scheme represents a significant policy intervention to boost formal employment among India’s youth. With over 42 lakh new EPFO subscribers added in the last fiscal year, the scheme targets a substantial portion of the workforce entering organized employment. The incentive serves multiple purposes, it provides financial support to young workers during their initial employment period, encourages employers to hire fresh graduates by highlighting the additional benefit, and promotes long-term savings through EPFO membership. For workers earning entry-level salaries of ₹15,000 to ₹25,000 per month, this one-time incentive equals nearly one month’s wages, providing crucial financial breathing room. The scheme also supports the government’s broader agenda of formalizing the informal economy, as employees are more likely to insist on EPFO registration when they understand the immediate and long-term benefits. Industry bodies have welcomed the move, though some have requested that the benefit be extended to all new EPFO registrants, not just first-timers.
Important Considerations and Clarifications
Applicants should note several important aspects of the scheme to avoid disappointment. The incentive is available only for EPFO registrations made after the scheme’s implementation date, retrospective claims are not permitted. Employees must ensure their employer has activated their EPFO account and contributed at least one month’s PF before applying. The scheme is not applicable to employees covered under the Employees’ State Insurance Corporation who are not part of EPFO. Applicants should be cautious of fraudulent websites, the only official portal is pmvry.labour.gov.in, and no fees should be paid for registration. The ₹15,000 is a one-time incentive and should not be confused with the Employees’ Provident Fund balance, which remains the employee’s retirement savings. Employees should maintain their EPFO contributions for at least one year after receiving the benefit, though this is not legally mandated. The scheme is currently approved for two years, with a review planned after assessing its impact on employment generation and formalization rates.
