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PM-VBRY completed one year of implementation on 1 August 2026, with over 72 lakh first-time employees added to the formal workforce against a two-year target of 3.5 crore jobs.
The EPFO-administered scheme runs from 1 August 2025 to 31 July 2027 with a total outlay of ₹99,446 crore, incentivising both first-time employees (Part A) and employers (Part B).
Nearly 30% of beneficiaries are women, and over 15 lakh workers have already received employment-linked incentive payments.
Encourage first-time formal employment and incentivise employers to create new jobs, expanding EPFO-linked social security coverage
Key: Part A pays first-time employees one month's EPF wage (capped ₹15,000) in two instalments after 6 and 12 months of service, following a financial literacy programme; Part B pays employers up to ₹3,000/month per new employee for 2 years, extended to 4 years in manufacturing
COVID-19 recovery-era predecessor that subsidised EPF contributions to restore lost employment
Key: Launched 1 October 2020, outlay ₹22,810 crore, registrations open till 31 March 2022, also EPFO-administered
Raise manufacturing's share of GDP to 20% by 2030, announced in Union Budget 2025-26
Key: Complements PM-VBRY's extended manufacturing-sector employer incentives; focuses on ease of business, workforce readiness, MSMEs and technology
Administers PM-VBRY end-to-end — Aadhaar/UAN authentication via UMANG, ECR filings, and direct benefit transfer of incentives
Parent Act establishing EPFO and the provident fund/pension framework PM-VBRY operates on
One of the four labour codes, in force from 21 November 2025; set to eventually consolidate EPF & MP Act provisions, though central and most state rules are still being notified
PM-VBRY is the implementation vehicle for the ELI Scheme first announced in Budget 2024-25
The other three of the four labour codes notified alongside the Social Security Code from 21 November 2025
GS Paper 3 > Indian Economy > Employment; GS Paper 2 > Government Policies and Interventions
Recurring — scheme progress is reported periodically by PIB and the PMO
Employees' Provident Fund Organisation — statutory body under the EPF & MP Act, 1952, running India's provident fund, pension and insurance schemes for the organised workforce
The Budget 2024-25 umbrella scheme, implemented as PM-VBRY, that pays first-time employees and their employers to expand formal employment