First-time jobseekers can get up to Rs 15,000 under PM-VBRY; EPFO course needed for second instalment

A Central government scheme is offering financial help to young people starting their first job in the private or formal sector. Under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PM-VBRY), eligible employees can receive an incentive of up to Rs 15,000. The amount is not paid at once but in two instalments.

However, completing 12 months of employment is not enough for the second instalment. The employee must also complete the financial literacy course available on the member portal of the Employees' Provident Fund Organisation (EPFO). Young people who want to benefit from the scheme should therefore understand the eligibility conditions and the required process.

The Centre launched the scheme to promote formal employment and to support young people taking up their first job. Eligible employees are given an incentive equal to one month's salary, subject to a ceiling of Rs 15,000.

For the first instalment, the employee must complete 6 months of continuous employment. For the second instalment, 12 months of employment must be completed. Completing the financial literacy programme on the EPFO member portal is also mandatory. Getting a job does not mean the full Rs 15,000 will automatically reach the account. The instalments are paid only after all the conditions of the scheme are met.

The eligibility conditions are as follows. The employee must be entering formal employment for the first time and must not have been an EPFO member earlier. The monthly salary must be up to Rs 1 lakh. Eligible employees who start work between August 1, 2025 and July 7, 2027 can come under the scheme. The employee must be registered with EPFO. For the incentive to reach the bank account directly, the account must be linked to Aadhaar. Those who meet these conditions have a chance of receiving the benefit, but final eligibility and the rules applicable to disbursal should be checked.

What has to be done on the EPFO portal is also clear. For the second instalment, the member must complete the financial literacy course on the portal. EPFO has advised first-time employees to complete this course. The main aim of the programme is to make employees aware of financial planning, savings and future financial security. The idea is that employees learn about the importance of regular saving, sound money planning and financial preparation for future needs.

Since the course is required along with 12 months of employment for the second instalment, employees should not ignore it. They should complete the course as per the information given on the portal and check the related process.

The scheme has been launched so that young people in their first job get financial stability in the early days and more people enter formal employment. The amount received by eligible employees can be used for savings, daily expenses or future financial planning. Eligibility, period of employment, EPFO registration, an Aadhaar-linked bank account and the financial literacy course are all important for the benefit. Young people starting their first job should therefore check the information on the EPFO member portal and complete the required process on time.