Scheme A:
First-time employees under all sectors with wage/salary of less than ₹1 lakh per month will be eligible to receive one month’s wages as a subsidy of up to ₹15,000 !!
It will be paid in three instalments.
To avail this, the employee must undergo a compulsory online Financial Literacy course before claiming the second instalment. Subsidy needs to be refunded by the employer if the employment to the first timer ends within 12 months of recruitment.
This scheme will be applicable for two years.
Scheme B:
This scheme is applicable to all corporate and non-corporate employers in manufacturing sector with a three-year track record of EPFO contribution .
It is applicable for substantial hiring of first-time employees in the manufacturing sector.
The employer must hire at least the following number of previously non-EPFO enrolled workers — 50 or 25% of the baseline.
Scheme C:
This scheme will focus on additional employment in all sectors.
Employer who increases employment above the baseline (the previous year’s number of EPFO employees) by at least two employees (for those with less than 50 employees) or 5 employees (for those with 50 or more employees) and sustains the higher level, and for employees whose salary does not exceed ₹1,00,000 per month is eligible for this scheme.
The new employees under this part need not be new entrants to EPFO.
Under this, for two years, the government will reimburse EPFO employer contribution [up to] ₹3,000 per month to the employer for the additional employees hired in the previous year.
It does not apply to those employees covered under Scheme B.
