Budget 2024: Employment Incentivization Schemes will be launched soon
With reference to the above subject, following three Employment Linked Incentive Scheme have been announced which the EPFO will publish based on the Budget Announcement. Following are the highlights of the schemes announced. Please reach out to sayali@payrule.in for details of the scheme.
These are majorly the outline of the scheme and the scheme document under each of these schemes are yet to be published by the EPFO and hence the schemes are not yet applicable, but will be made applicable soon.
Highlights :
Three schemes as given below will be rolled out soon
- Scheme A : First Time Employees (newly registered in PF) to get Rs 15000/- as incentive benefit
- Scheme B : Manufacturing Establishments engaging employees in bulk to get PF reimbursement for upto 4 years
- Scheme C : All Establishments engaging new workforce and showing increased headcount in PF to get PF reimbursement benefit of upto 2 years
We would keep a watch and keep you updated once the scheme document is floated by the EPFO, which is the regulatory authority for rollout and execution of these schemes hope this helps!
Disclaimer : The attached document is a personal opinion of the writer based on the material available shared with the intent of passing the knowledge. No liability arises on the author, legal or otherwise.
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CA Darshan balai
www.payrule.in