Employers, First-Time Employees To Benefit From ELI: EPFO
Haydarabad: B. Regional Specialization Fund Commissioner-I, Employee Specialization Fund Organization (EPFO) Regional Office TaLangana informed the media, which aims to create an official business in the next two years, in the center’s newly approved employment incentive (EL) program.
On Tuesday, the Eli plan, which appealed to the media, described his plan as a direct intervention to shift the labor force to official employment with long -term security. The initiative offers fee -related incentives to both employees and employers who create additional jobs for the first time.
The program creates a wider RS 2 Lakh Crore package described in the 2024-25 unity budget to support 4.1 Crore youth through employment, skills and financial inclusion.
The commissioner said the plan is expected to benefit from 1,92 Crore workers for the first time with the new registered EPFO. Each worker will receive an equal incentive for one -month EPF fee, “ 15,000, in two installments – after the first six -month continuous service and a year after the completion of a financial literacy program. Some of this amount will be locked in a saving tool to promote long -term financial discipline.
For employers, the plan offers monthly incentives of 1,000 RS to 3,000 RS per employee based on wage signs. Appropriate organizations should be registered with EPFO and at least two additional employees with less than 50 or more than 50 or more or less than 50 or more. Incentives will be present in the manufacturing sector, which is defined as a key driving force for employment growth, up to two years and four years.
Incentives will be valid for jobs created between 1 August 2025 and 31 July 2027. Payments shall be made directly to AADHAAR employee accounts and Pan -linked employer accounts to ensure transparency and ease of payments.
“This is not just about the number of employment, Canda said Chandra Sekhar,“ However, by transforming how employment is produced and protected, it brings more young people to the security network of Social Security. ” EPFO TELANGANA officials urged employers, industrial bodies and job seekers to communicate with their offices to support and registration assistance.
