Latest news with #ELIScheme
Time of India
24-07-2025
- Business
- Time of India
Employment Linked Incentive: Earn Rs 15,000 through ELI Scheme-But there is a catch
Academy Empower your mind, elevate your skills ELI Scheme Part A-for first-time employees ELI Scheme Part B to support employers The Employees' Provident Fund Organisation (EPFO) has issued a fresh directive urging all employers to furnish gross wage details in the Electronic Challan cum Return (ECR) from the wage month of August 2025 onwards. This step is crucial for both employers and employees to remain eligible for benefits under the Employment Linked Incentive (ELI) July 1, 2025, the Union government approved the Employment Linked Incentive (ELI), which is designed to support employment generation, enhance employability and social security across all sectors, with a particular emphasis on the manufacturing ELI Scheme was introduced in the Union Budget 2024-25 as part of the Prime Minister's initiative, which includes five schemes aimed at supporting employment, skill development, and other possibilities for 41 million young individuals, with a budget allocation of Rs 2 lakh eligibility under this scheme is subject to a key condition: the gross monthly wage of an employee must not exceed Rs 1,00, reporting of wages in the ECR could lead to a loss of eligibility for the ELI Scheme, impacting both employers and their employees. To avoid this, the EPFO has emphasised the importance of accurate and consistent data entry regarding gross wages in monthly scheme consists of two parts, with Part A focused on first timers and Part B focused on section will provide a one-month EPF wage up to Rs 15,000 in two instalments, with the goal of attracting new employees registered with EPFO. The first instalment will be due after six months of employment, and the second instalment will be due after 12 months of employment, contingent upon the employee completing a financial literacy creation of new jobs in all industries will be covered in this section, with a special focus on manufacturing. Businesses will receive incentives for employees earning salaries up to Rs 1 lakh. For two years, the government would provide firms with incentives of up to Rs 3,000 per month for each additional employee who has worked continuously for at least six months. Incentives will be extended to the third and fourth years for the manufacturing that all payments to the first-time employees will be made through the DBT (Direct Benefit Transfer) mode using the Aadhaar Bridge Payment System (ABPS). Payments to the employers will be made directly into their PAN-linked accounts.
Time of India
15-07-2025
- Business
- Time of India
Labour, industry must work in close coordination for nation's workforce, economy: Mandaviya, ETHRWorld
Advt Join the community of 2M+ industry professionals. Subscribe to Newsletter to get latest insights & analysis in your inbox. All about ETHRWorld industry right on your smartphone! Download the ETHRWorld App and get the Realtime updates and Save your favourite articles. New Delhi, Labour and industry must work in close coordination for the greater good of the nation's workforce and economy, Union Minister Mansukh Mandaviya said on Minister for Labour & Employment made the remarks while chairing a high-level meeting of state labour and industry ministers on the Employment Linked Incentive Scheme (ELI).The objective of the meeting was to deliberate on the implementation modalities and explore collaborative strategies for the effective rollout of the ELI Scheme, the ministry said in a statement."Labour and industry are two sides of the same must work in close coordination for the greater good of the nation's workforce and economy," he assured participants that procedural formalities under the scheme have been kept simple to ensure ease of access and encourage wide ELI scheme represents the second step after the PLI plan in the direction of building an Atmanirbhar Bharat, the minister said, adding that the ELI scheme will provide financial support to employers, enabling them to generate additional employment, particularly for the cited KLEMS data published by the Reserve Bank of India (RBI), highlighting that over 17 crore employment opportunities were generated during the last he noted, is a reflection of the significant economic progress made by the country, particularly driven by robust growth in sectors like construction, manufacturing, and emphasised that this momentum must be sustained and further accelerated through schemes like ELI, which are designed to create quality jobs, deepen formalisation, and support inclusive development.
&w=3840&q=100)
Business Standard
15-07-2025
- Business
- Business Standard
Govt asks states to align job schemes with ₹99,446-cr ELI programme
The Centre has called on states to align their employment-oriented initiatives with the newly launched Employment Linked Incentive (ELI) Scheme. This move is aimed to maximise job creation, deepen formalisation, and strengthen the country's employment ecosystem. Chairing a high-level virtual meeting with state labour and industry ministers on Monday, Union Labour & Employment Minister Mansukh Mandaviya said, 'Labour and industry are two sides of the same coin. Both must work in close coordination for the greater good of the nation's workforce and economy.' Mandaviya urged the state governments to integrate their existing employment programmes with the ELI scheme's objectives to ensure coordination and avoid duplication of efforts. Referring to the Reserve Bank of India's KLEMS data, Mandaviya noted that over 170 million employment opportunities were generated over the past decade, mainly in sectors such as construction, manufacturing, and services. 'We must build on this momentum. The ELI Scheme is a strategic tool to do so,' he said. What is the Employment Linked Incentive scheme? The Employment Linked Incentive scheme, or ELI, is a central government initiative aimed at accelerating formal job creation by providing financial incentives to employers who generate net new employment, particularly for the youth. The scheme has a total outlay of ₹99,446 crore and targets the creation of 35 million jobs within two years. The ELI scheme is seen as the next major step after the Production Linked Incentive (PLI) programme. 'The ELI Scheme represents the next step in building an Atmanirbhar Bharat. It is a win-win for employers and job seekers alike,' Mandaviya said, adding that procedural formalities have been simplified to ensure ease of access and mass adoption. Ministry secretary Vandana Gurnani added that the first instalment of incentives under the scheme would be disbursed following six months of continuous employment. Gurnani added that the scheme also seeks to extend social security coverage and improve employability, particularly in the manufacturing sector. States to hold district-level meetings on ELI This meeting was well received, with ministers from states including Gujarat, Assam, Bihar, Madhya Pradesh, Jharkhand, Chhattisgarh and Arunachal Pradesh expressed support for the scheme and assured cooperation in its rollout. While many agreed to align their state-run employment initiatives with the ELI scheme, others also suggested holding district-level awareness programmes, in a bid to encourage collaboration with industry chambers and local businesses. [With agency inputs]
Time of India
04-07-2025
- Business
- Time of India
"Notable policy development": ILO lauds India's employment-linked incentive scheme
International Labour Organization (ILO) lauded India's just-announced employment linked incentive scheme , asserting that its global evidence suggests that active labour market policies (ALMP) if designed appropriately can improve youth employment outcomes. "India's ELI scheme is a notable policy development in this direction," said India office of International Labour Organization posted on X. "ILO's global evidence suggests that Active Labour Market Policies (ALMP) if designed appropriately can improve youth employment outcomes," the post added. On Tuesday, the Union Cabinet approved the Employment Linked Incentive (ELI) Scheme to support employment generation, enhance employability and social security across all sectors, with special focus on the manufacturing sector. Under the Scheme, while the first-time employees will get one month's wage (up to Rs 15,000), the employers will be given incentives for a period to two years for generating additional employment, with extended benefits for another two years for the manufacturing sector. The ELI Scheme was announced in the Union Budget 2024-25 as part of PM's package of five schemes to facilitate employment, skilling and other opportunities for 4.1 crore youth with a total budget outlay of Rs 2 lakh crore. With an outlay of Rs 99,446 crore, the ELI Scheme aims to incentivize the creation of more than 3.5 crore jobs in the country, over a period of 2 years. Out of these, 1.92 crore beneficiaries will be first timers, entering the workforce. The benefits of the scheme would be applicable to jobs created between August 1, 2025 and July 31, 2027. The Scheme consists of two parts - with Part A focused on first timers and Part B focused on employers. Targeting first-time employees registered with EPFO, Part A will offer one-month EPF wage up to Rs 15,000 in two installments. Employees with salaries up to Rs 1 lakh will be eligible. The 1st installment will be payable after 6 months of service and the 2nd installment will be payable after 12 months of service and completion of a financial literacy programme by the employee. To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date. The Part A will benefit around 1.92 crore first time employees. The Part B will cover generation of additional employment in all sectors, with a special focus on the manufacturing sector. The employers will get incentives in respect of employees with salaries up to Rs 1 lakh. The Government will incentivize employers, up to Rs 3000 per month, for two years, for each additional employee with sustained employment for at least six months. For the manufacturing sector, incentives will be extended to the 3rd and 4th years as well. Establishments, which are registered with EPFO, will be required to hire at least two additional employees (for employers with less than 50 employees) or five additional employees (for employers with 50 or more employees), on a sustained basis for at least six months. All payments to the First Time Employees under Part A of the Scheme will be made through DBT (Direct Benefit Transfer) mode using Aadhar Bridge Payment System (ABPS). Payments to the Employers under Part B will be made directly into their PAN-linked Accounts. With ELI Scheme, the government intends to catalyse job creation in all sectors, particularly in manufacturing sector, besides incentivizing youth joining the workforce for the first time. An important outcome of the Scheme will also be formalization of the country's workforce by extending social security coverage for crores of young men and women.
India Gazette
02-07-2025
- Business
- India Gazette
ELI Scheme to boost resilient and equitable labour market: Tata Chemicals's Mukundan
New Delhi [India], July 2 (ANI): R Mukundan, President Designate CII and Managing Director & CEO, Tata Chemicals Limited, on Wednesday said that the Employment Linked Incentive (ELI) scheme can pave the way for a more resilient, competitive and equitable labour market in the country. 'We believe the ELI scheme can pave the way for a more resilient, competitive and equitable labour market in India. We also commend the government for the consultative approach in designing the scheme while reflecting a strong commitment to public-private partnership,' Mukundan said. 'On behalf of CII and Indian industry, I extend full support to the successful implementation of this important initiative, which will pave the way for Vixit Bharat,' he added. In a video message, Mukundan said that the Indian industry views this decision as a transformative step that complements the ongoing national efforts, including PLI, National Manufacturing Mission and Make in India. 'At CII, we've long advocated this scheme, which focuses on job creation. We believe the ELI scheme can pave the way for a more resilient, competitive and equitable labour market in India,' he added. Union Cabinet approved Employment Linked Incentive (ELI) Scheme to boost job creation, incentivise first-time employees and strengthen social security for the workforce in the country. With an outlay of Rs. 99446 crore, the ELI Scheme will support the creation of over 3.5 crore jobs. Mukundan further added, 'We also commend the government for the consultative approach in designing the scheme while reflecting a strong commitment to public-private partnership. On behalf of CII and Indian industry, I extend full support to the successful implementation of this important initiative, which will pave the way for Viksit Bharat.' Under the Scheme, while the first-time employees will get one month's wage up to Rs 15,000, the employers will be given incentives for a period of two years for generating additional employment. The ELI Scheme was announced in the Union Budget 2024-25 as part of the PM's package of five schemes to facilitate employment, skilling and other opportunities for 4.1 Crore youth with a total budget outlay of Rs 2 Lakh Crore. (ANI)
