Prime Minister Narendra Modi is set to release the first instalment of a Rs 15,000 incentive to 1.5 million employees who have joined work for the first time and are linked to Provident Fund (PF) accounts, under the Centre’s employment initiative.
The scheme, titled the Pradhan Mantri Viksit Bharat Employment Scheme, was launched last year to boost job creation. Under it, eligible private-sector employees receive a total assistance of Rs 15,000 in two instalments—Rs 7,500 after completing six months of service and another Rs 7,500 after completing one year—credited directly to their bank accounts.
Eligibility requires that the person be a first-time employee enrolled in a PF account, earn a monthly salary of up to Rs 1 lakh, and remain in employment for at least six months. In addition, companies that hire new employees are eligible for an incentive of Rs 3,000 per employee per month for up to two years.
The government said that in April, Rs 446 crore was released to 4.4 lakh employees who completed six months of service, with incentives also paid to 18,000 firms. On Thursday, Modi will transfer Rs 2,400 crore for the 1.5 million beneficiaries at an event at Vigyan Bhavan in New Delhi.
Since the scheme’s launch in August 2025, the government has said 6.3 million people have secured new jobs, with women accounting for 30%. The Centre aims to create 30 million jobs by 2027, with a planned outlay of Rs 99,446 crore.
