{"id":132687,"date":"2024-09-18T19:19:18","date_gmt":"2024-09-18T13:49:18","guid":{"rendered":"https:\/\/pwonlyias.com\/stage\/?post_type=current-affairs&#038;p=132687"},"modified":"2024-09-19T16:52:59","modified_gmt":"2024-09-19T11:22:59","slug":"eli-scheme","status":"publish","type":"current-affairs","link":"https:\/\/pwonlyias.com\/stage\/current-affairs\/eli-scheme","title":{"rendered":"Employment Linked Incentive Scheme"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Recently, the Secretary of the Ministry of Labour &#038; Employment (MoLE), led an inter-ministerial meeting to discuss the Employment Linked Incentive Scheme.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Focus Areas: There was <\/b><span style=\"font-weight: 400;\">discussion on the framework for effective implementation of the ELI scheme.<\/span><\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Key Points from the Meeting<\/b><\/span><\/h2>\n<ul>\n<li aria-level=\"1\"><b>Three ELI Schemes: <\/b><span style=\"font-weight: 400;\">These three schemes will be based on enrolment in the Employees\u2019 Provident Fund Organisation (EPFO).\u00a0<\/span>\n<ul>\n<li><span style=\"font-weight: 400;\">It<\/span> <span style=\"font-weight: 400;\">will focus on<\/span><b> first-time employees and supporting both employees and employers.<\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/www.pw.live\/batches\/upsc\/pw-only-ias?utm_source=seo+upsc+batch&#038;utm_medium=seo+upsc&#038;utm_campaign=seo&#038;utm_id=upsc\" target=\"_blank\" rel=\"nofollow noopener\">Enroll now for UPSC Online Classes<\/a><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-132671 alignright\" src=\"https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/09\/183-66ead6a1d41cc.webp\" alt=\"Employment Linked Incentive\" width=\"402\" height=\"229\" srcset=\"https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/09\/183-66ead6a1d41cc.webp 775w, https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/09\/183-66ead6a1d41cc-300x171.webp 300w, https:\/\/pwonlyias.com\/stage\/wp-content\/uploads\/2024\/09\/183-66ead6a1d41cc-768x438.webp 768w\" sizes=\"(max-width: 402px) 100vw, 402px\" \/><\/p>\n<h2><span style=\"font-size: 18pt;\"><b>About Employment Linked Incentive Scheme<\/b><\/span><\/h2>\n<ul>\n<li><span style=\"font-weight: 400;\">This initiative was launched in the Union Budget 2024-25.<\/span><\/li>\n<li><b>Aim<\/b><span style=\"font-weight: 400;\">: To generate employment and formalisation of the labour force in the country.<\/span><\/li>\n<li>\n<h3><span style=\"font-size: 16pt;\"><b>Schemes Under Employment Linked Incentive<\/b><\/span><\/h3>\n<ul>\n<li><b>Scheme A:<\/b>\n<ul>\n<li><b>Target:<\/b><span style=\"font-weight: 400;\"> First-time employees in the formal sector registered with EPFO.<\/span><\/li>\n<li><b>Benefit:<\/b><span style=\"font-weight: 400;\"> One-month wage (up to Rs. 15,000) in three instalments.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Scheme B:<\/b>\n<ul>\n<li><b>Focus:<\/b><span style=\"font-weight: 400;\"> Job creation in manufacturing.<\/span><\/li>\n<li><b>Incentive: <\/b><span style=\"font-weight: 400;\">Benefits for additional employment of first-time employees based on EPFO contributions for the first four years.<\/span><\/li>\n<li><b>Eligibility: <\/b><span style=\"font-weight: 400;\">Employees with salaries up to Rs. 1 lakh.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><b>Scheme C:<\/b>\n<ul>\n<li><b>Support: <\/b><span style=\"font-weight: 400;\">Reimbursement to employers.<\/span><\/li>\n<li><b>Benefit: <\/b><span style=\"font-weight: 400;\">Up to Rs. 3,000 per month for two years towards EPFO contribution for each additional employee with a salary of up to Rs. 1 lakh.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span style=\"font-size: 18pt;\"><b>Importance of the Employment Linked Incentive Scheme<\/b><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Diversified opportunity: <\/b><span style=\"font-weight: 400;\">Offers a great opportunity for different sectors to formalize their workforce.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ensures social security for employees.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: center;\"><span class=\"vc_button\"><a href=\"https:\/\/store.pw.live\/govt-entrance-exams\/upsc-books\/upsc-textbooks?utm_source=SEO&#038;utm_medium=PW+Live&#038;utm_campaign=UPSC+Textbooks\" target=\"_blank\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">Check Out UPSC NCERT Textbooks From PW Store<\/span><\/a><\/span><\/p>\n<table style=\"width: 100.025%;\">\n<tbody>\n<tr>\n<td style=\"width: 137.909%; 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Employment (MoLE), led an inter-ministerial meeting to discuss the Employment Linked Incentive (ELI) Scheme.<\/p>\n","protected":false},"author":11,"featured_media":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"tags":[],"paper-wise":[2084],"subject":[4632],"acf":[],"_links":{"self":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/132687"}],"collection":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs"}],"about":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/types\/current-affairs"}],"author":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/comments?post=132687"}],"version-history":[{"count":4,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/132687\/revisions"}],"predecessor-version":[{"id":132869,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/current-affairs\/132687\/revisions\/132869"}],"wp:attachment":[{"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/media?parent=132687"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/tags?post=132687"},{"taxonomy":"paper-wise","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/paper-wise?post=132687"},{"taxonomy":"subject","embeddable":true,"href":"https:\/\/pwonlyias.com\/stage\/wp-json\/wp\/v2\/subject?post=132687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}