Big jobs push: EPFO’s Rs 99K crore scheme targets 3.5 cr new jobs by 2027

Syllad | The Rising MeghalayaJuly 4, 2025

The Employees’ Provident Fund Organisation (EPFO) has highlighted the newly launched Employment Linked Incentive (ELI) Scheme, aimed at creating over 3.5 crore jobs nationwide with a special focus on boosting employment and social security in the Northeast.

At a press conference in Guwahati on Thursday, Shishir Kant Jha, Additional Central Provident Fund Commissioner (NER Zone), said the scheme—approved by the Union Cabinet and announced in the Union Budget 2024–25—has a Rs 99,446 crore outlay and will run from August 1, 2025, to July 31, 2027.

Targeting 1.92 crore first-time workers, the ELI Scheme offers a wage incentive of up to Rs 15,000 per employee, disbursed in two instalments: the first after six months of continuous employment, and the second after 12 months, contingent on completing a financial literacy programme. A portion of the incentive will be held in a fixed account to encourage long-term savings.

Vineet Nahata, Member of the Central Board of Trustees (CBT), EPFO, stressed the scheme’s role in bringing more youth—especially from the manufacturing and informal sectors—into formal employment and under social security coverage. He urged employers in the region to enrol eligible workers and maximise the benefits.

The ELI Scheme forms part of a broader Rs 2 lakh crore package comprising five national initiatives aimed at employment generation, skill development, and entrepreneurship opportunities for 4.1 crore youth. Officials noted the scheme would not only boost job creation but also help integrate workers into India’s formal economy, transforming the employment landscape in regions like the Northeast.

In Shillong on July 2, the EPFO Regional Office held an engagement session with local employers to disseminate information about the scheme. Representatives from leading establishments—including Nikita Sunar (HR Executive, Hotel Centre Point Group Enterprises), Ranjan Purkayastha (Senior Accountant, CMJ Breweries Pvt Ltd), Evangelene (PF/ESIC Administrator, Col. Shishupal Security Consultancy and Services), and Smt. Majaw representing local stakeholders—were briefed on the scheme’s provisions, benefits, eligibility, and application process.

K Hungyo, Regional PF Commissioner-II, and EPFO Shillong officials underscored the ELI Scheme’s potential to drive inclusive growth and workforce formalisation. They encouraged employers to register under the EPF Act and provide long-term employee benefits such as provident fund, pension, and insurance coverage.

Employers at the session welcomed the initiative. Purkayastha called it a “well-thought-out initiative” that could benefit the workforce if implemented in coordination. Sunar noted its potential to address unemployment with a simple process where incentives are credited directly to employees. Majaw described it as a “positive step” for first-time jobseekers to access social security benefits.

The Shillong event was part of EPFO’s ongoing awareness drive to promote the scheme and encourage employers to participate in formal employment growth.