NEW DELJI, July 23: The Government will implement three schemes for employment-linked incentives, focusing on EPFO enrollment and supporting first-time employees , said Finance Minister Nirmala Sitharaman during BUdget 2024 speech.
New hires will receive up to ₹15,000 in direct benefit transfers (DBT) in three instalments, with a salary cap of ₹1 lakh per month.
This initiative aims to benefit 2.1 lakh youths.
Additionally, employers will be reimbursed up to ₹3,000 per month for two years for each new employee, aiming to support 50 lakh new jobs and 30 lakh youths.
A scheme will also be introduced to offer internships to one crore youth over five years, and rental housing for industrial workers will be facilitated in PPP mode.
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