New Delhi, August 15: Prime Minister Narendra Modi, in his 12th Independence Day address from the Red Fort, announced a major employment push under the Pradhan Mantri Viksit Bharat Rojgar Yojana (PM-VBRY). Marking the 79th Independence Day, he revealed that around 3.5 crore youth will benefit from new job opportunities through this scheme, backed by a massive INR 1 lakh crore allocation. The initiative, which came into effect on August 1, 2025, seeks to create inclusive, sustainable employment while boosting private sector hiring.

Under the plan, first-time employees in the private sector will receive a INR 15,000 incentive from the government, while companies hiring them will also get monetary benefits. The scheme’s total outlay of INR 99,446 crore targets the creation of over 3.5 crore jobs in two years, with benefits applicable to jobs created between August 1, 2025, and July 31, 2027. Independence Day 2025: PM Narendra Modi Promises GST Overhaul Ahead of Diwali; Says ‘Review Is Need of the Hour’ (Watch Video).

What Is PM Viksit Bharat Rozgar Yojana?

The PM-VBRY is a dual-benefit employment initiative with Part A for employees and Part B for employers.

Part A – For Employees

First-time employees registered with the Employees’ Provident Fund Organisation (EPFO) and earning up to INR 1 lakh will get one month’s EPF wage—up to INR 15,000—paid in two instalments. The first comes after six months of continuous service, and the second after 12 months, provided the employee completes a mandatory financial literacy programme. Payments will be made directly through the Aadhaar Bridge Payment System (ABPS) to promote savings and financial discipline.

Part B – For Employers

Employers hiring additional staff with salaries up to INR 1 lakh will receive incentives ranging from INR 1,000 to INR 3,000 per employee per month for two years. For the manufacturing sector, benefits extend to the third and fourth years. The incentive amount depends on the EPF wage slab, with higher payouts for employees earning more.

Eligibility and Implementation

For employees, eligibility requires joining between August 1, 2025, and July 31, 2027, a gross salary of ≤INR 1 lakh, a valid UAN linked to Aadhaar, and EPFO contributions for 6–12 consecutive months. Employers must hire at least two additional employees (if workforce <50) or five (if ≥50 employees) and ensure sustained employment for six months or more. PM Narendra Modi Sets New Record With 103-Minute Independence Day 2025 Speech – His Longest Yet (Watch Video).

Compliance, Tax and Grievance Redressal

All incentives are taxable unless exempted in future. The scheme is fund-limited, with strict audits and fraud checks. Employees and employers can lodge complaints via an online portal or call centre, with EPFO targeting resolution within 15 days.

By combining direct employee incentives with employer benefits, PM-VBRY aims to accelerate private sector hiring while encouraging job retention and financial literacy among India’s youth.

(The above story first appeared on LatestLY on Aug 15, 2025 10:09 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).