New EPFO Incentives For Employees And Employers

Economic Survey

According to the Economic Survey 2024, an average of 78.5 lakh jobs must be created yearly until 2030 to meet the employment demand.

Employer's Benefit

The government will reimburse employers' contributions of up to Rs 3k each month for 2 years for every employee hired in the previous year. 

For First-Time Employees

The government will give first-time employees one month’s wage before they become fully productive as an incentive for employers.

For Manufacturers

Employers in the manufacturing sector contributing to EPFO for three years and having at least 50 non-EPFO-enrolled employees, or 25 per cent of the baseline, will receive benefits.

Benefits Of More Recruitment

Employers who increase employment above the baseline annually will receive special benefits and compensation.

Compiled By Himani Verma