Ranchi, July 3: The Government of India has launched ELI (Employment Linked Incentive) to encourage employment generation, employment potential and social security in all sectors, under which employers giving new jobs will also become ‘rich’.
Regional Provident Fund (PF) Commissioner, Jamshedpur Upendra Pratap Singh informed that this part includes additional employment generation in all sectors, with special focus on the manufacturing sector.
Employers will get incentives for employing employees with a salary of up to Rs 1 lakh. The government will give employers an incentive of up to Rs 3000 per month for two years for each additional employee with continuous employment for at least six months. Incentives for the manufacturing sector will also be extended to the third and fourth year. However, at present this scheme is effective for two years.
The Regional Provident Fund Commissioner said that about 4500 companies-establishments are registered with the PF department in Kolhan division. All these institutions-establishments will come under its purview.
Establishments registered with EPFO will be required to employ 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 continuous basis for at least six months.
Upendra Pratap Singh said that the government will give additional first salary to the person going to the first job, but this amount will be up to Rs 15,000. The government has already brought such a scheme under different names. It has been seen that this scheme significantly increases the employment generation rate. One month’s EPF salary up to Rs 15,000 will be given in two installments. Employees with salary up to Rs 1 lakh will be eligible for this. To encourage the habit of saving, a part of the incentive amount will be kept in the savings instrument of the deposit account for a certain period, which the employee can withdraw later.
