Union Budget 2024: New Employment Schemes

By Team foundit

White Scribbled Underline

July 23, 2024

Employment-linked Incentives

Union Budget 2024 introduces new employment schemes to boost job creation, and ₹2 trillion announced for job creation.

Scheme A

First-time employees with EPFO will receive up to Rs 15,000 in three parts.

Scheme B

Employees and employers in manufacturing get incentives based on EPFO contributions for four years.

Scheme C

Employers get up to Rs 3,000 per month for two years for each new employee's EPFO contributions.

Impact on Job Market

These schemes are expected to boost employment, particularly for freshers, creating millions of new job opportunities across various sectors.

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