From August 1, the government will implement Employment Linked Incentive Scheme (ELI). In this, the government will give an incentive of 15 thousand rupees on the first job in the organized sector. At the same time, the job companies will also get incentive on every new employment. On all the nuances related to the scheme, Central PF Commissioner Ramesh Krishnamurthy said that under this scheme, incentive will be found on the first job. The first installment will be available on completion of 6 months job. The second installment will be available on completion of 12 months job. For this scheme, those who get salary up to Rs 1 lakh per month will be eligible. For this, the examination of financial literacy will have to be given.
Under this scheme, only those with salary up to Rs 1 lakh will get the benefit of this scheme. However, it is not yet clear whether one lakh rupees CTC will be considered or net salary.
Under this, the company will get incentives up to Rs 3,000 per month on every new employee. Companies will get incentive for 2 years. It is clear in the rules of the ELI scheme that at least 6 months the employee will have to work. Only then will you get the first installment of Rs 15000. Now if you get a job offer before getting the second installment, then it is very likely that you lose the benefit of the second installment.
According to the rule, the money coming in the 12th month will be for your first job. If you join another job, technically you will not be able to fulfill the condition of eligibility. In such a situation, it is possible that you get only 50 percent of the 15000 profit. Yes, if you complete one year in your first company, then you will get full money.
Experts believe that this scheme is an important step taken towards stability in employment and expansion of employment in the organized sector. If it is implemented properly, it can become a strong medium of long -term employment generation in India.