EPFO holds seminar for CREDAI members on new employment scheme

The Regional Office of the Employees’ Provident Fund Organisation (EPFO), in collaboration with CREDAI Visakhapatnam, held a seminar to brief members on the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY), a new government scheme aimed at generating employment.

Amardip Mishra, Regional Provident Fund Commissioner-I, said the scheme, launched by Prime Minister Narendra Modi on August 15, 2025, has an outlay of Rs 99,446 crore and seeks to create over 3.5 crore new jobs by July 2027, with additional benefits for the manufacturing sector until July 2029.

PMVBRY has two parts. Part A offers first-time employees up to Rs 15,000 in two instalments via Direct Benefit Transfer for on-the-job training, financial literacy, and long-term employability. Part B gives employers incentives of up to Rs 3,000 per month for each new employee to boost workforce stability and productivity.

Mishra highlighted opportunities for the state’s unorganised workforce, noting that around 6.26 lakh workers in Andhra Pradesh’s construction sector could benefit from formal social security coverage under the scheme.

Implemented through EPFO by the Ministry of Labour and Employment, employers can register online, while first-time employees can generate a Universal Account Number via Face Authentication on the UMANG App.

The seminar also covered EPFO initiatives like e-nomination and the PRAYAAS programme, which ensures Pension Payment Orders are delivered on retirement day. CREDAI members welcomed the efforts to increase awareness about PMVBRY and social security benefits.