Bhubaneswar: The Utkal Chamber of Commerce and Industry Ltd. (UCCIL), in collaboration with EPFO Bhubaneswar, successfully hosted an insightful workshop today on the newly introduced Employment Linked Incentive (ELI) Scheme, aimed at bolstering employment generation and formalizing the workforce.
The event, chaired by Dr. Prabodh Mohanty, President of UCCIL, highlighted the Chamber’s proactive stance in empowering local businesses and fostering economic growth.
The workshop served as a crucial platform for in-depth discussions on various facets of the ELI Scheme and essential PF-related matters. Key representatives from industry, burgeoning startups, and the service sector actively participated, making it a highly productive knowledge-sharing session.
Maushumi Lata Padhi, Regional PF Commissioner, delivered comprehensive presentations on the benefits of the ELI Scheme.
The Employment Linked Incentive (ELI) Scheme, announced in the Union Budget 2024-25 and effective from August 1, 2025, to July 31, 2027, aims to create over 3.5 crore jobs nationwide, with a significant focus on the manufacturing sector. The scheme operates in two primary parts:
- Part A: Incentive to First-Time Employees: Targets individuals registering with the EPFO for the first time. Eligible employees with salaries up to ₹1 lakh per month will receive an incentive equivalent to one month’s EPF wage, capped at ₹15,000. This incentive will be paid in two installments: the first after six months of service, and the second after twelve months, contingent upon the completion of a financial literacy program. A portion of the incentive will be held in a savings instrument to promote long-term saving habits.
- Part B: Support to Employers: Covers the generation of additional employment across all sectors, with extended benefits for the manufacturing sector. Employers will receive monthly incentives of up to ₹3,000 per month for each additional employee hired and retained for at least six months. The incentive structure for employers is based on EPF wage slabs: up to ₹10,000: up to ₹1,000 per month; more than ₹10,000 and up to ₹20,000: ₹2,000 per month; more than ₹20,000 (up to ₹1 lakh/month): ₹3,000 per month. To qualify, establishments registered with EPFO must hire at least two additional employees (for employers with less than 50 employees) or five additional employees (for employers with 50 or more employees). While the incentive is for two years in non-manufacturing sectors, it is extended to the third and fourth years for the manufacturing sector.
Gourav Mohanty, Regional PF Commissioner, also deliberated on the scheme’s advantages. He said that the Payments under both parts of the scheme will be made through Direct Benefit Transfer (DBT) – via Aadhaar Bridge Payment System (ABPS) for employees and directly into PAN-linked accounts for employers, ensuring transparency and efficiency.
Jayakrushna Rath, Vice President UCCIL, also addressed the gathering, strongly encouraging entrepreneurs to leverage this beneficial government initiative.
Dr. Prabodh Mohanty’s decision to organize this workshop underscores his commitment to the economic development of the region and the welfare of its business community.
Recognizing the transformative potential of the ELI Scheme in fostering formal employment and enhancing social security, Dr. Mohanty spearheaded this initiative to ensure local entrepreneurs and businesses are well-informed and equipped to harness its benefits.
His proactive approach in facilitating direct interaction between businesses and EPFO officials exemplifies UCCIL’s dedication to supporting its members and contributing to the government’s vision of robust job creation. Such seminars are vital in bridging the information gap and encouraging widespread adoption of beneficial government schemes.