EPFO’s financial literacy course can help eligible first-time employees get up to Rs 15,000: Check eligibility criteria for PM-VBRY incentive

The Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY) offers new eligible employees covered under the Employees' Provident Fund Organisation (EPFO) an incentive of up to Rs 15,000.

However, fulfilling specific requirements, such as finishing an EPFO-recommended financial literacy course, is necessary to obtain the full benefit.

The government has introduced the scheme to encourage employment and provide financial support to people entering the formal workforce for the first time. Under Part A of the scheme, eligible first-time employees can receive an incentive of up to Rs 15,000.



The incentive is paid in two instalments during the first year of employment. While the first instalment is linked to completing six months of continuous service, employees must complete the prescribed financial literacy programme to qualify for the second instalment.

Who is eligible for the Rs 15,000 incentive under the PM-VBRY scheme?

First-time employees with a monthly gross salary of less than Rs 1,00,000.

• Employees of EPFO-registered and exempted establishments
• Must be an Indian resident with an Aadhaar-linked bank account.
• This includes both new joiners and re-joiners; excludes employers.
• Financial literacy course is mandatory to get the second instalment

The EPFO has advised first-time employees to complete the prescribed financial literacy course available through its member portal to become eligible for the second instalment.

The course is an additional requirement under the scheme. Employees who have completed 12 months of service must also fulfil this condition to qualify for the second payment.

Who is a first-time employee?

As per information available on the EPFO website, "Any employee, a. with the date of joining in an establishment between August 1, 2025 and July 7, 2027(both dates inclusive) and b. who was not a contributing member of the Employees’ Provident Fund either with the EPFO or an exempted trust prior to August 1, 2025 and c. their contribution is received in the EPFO or the exempted trust for the first time for the wage month August 2025 or thereafter.”

What is the PM-VBRY scheme?

The PM-VBRY scheme provides direct cash incentives to eligible employees and employers to boost formal job creation.

Features of the PM-VBRY scheme

Provides incentives to first-time EPFO-registered workers earning up to Rs 1 lakh per month

Incentive up to Rs 15,000, paid in two instalments:

First instalment after completing six months in the job

Second instalment after 12 months and completing a financial literacy module

Part of the second instalment is held in a designated savings account to promote long-term savings

Part B – Employers’ PM-VBRY incentive

The PM-VBRY incentive is available to EPFO-registered companies hiring additional staff

Eligible companies can get an incentive up to Rs 3,000 per month per eligible new hire

Benefit for two years for most sectors; up to four years for manufacturing firms

Hiring thresholds: At least two extra hires for companies with under 50 staff, and two extra for companies with 50 or more employees