Employment Schemes and Job Creation: A Strategic Monitoring Mechanism by Labour Ministry
Sunday, 13 October 2024, 10:32
Employment Schemes and Job Creation: A Strategic Monitoring Mechanism by Labour Ministry
The Labour Ministry is preparing to implement a strong monitoring mechanism for employment schemes aimed at enhancing job creation across critical sectors.
These schemes, focusing on the informal sector, are designed to streamline job creation and ensure all stakeholders benefit efficiently without regulatory burdens.
Key Features of the Employment Schemes
- Scheme A: Reimburses one month's wage up to ₹15,000 for first-time job seekers.
- Scheme B: Facilitates bulk hiring with wage reimbursement for manufacturing sector employers.
- Scheme C: Covers employers' EPFO contributions for new hires in small and large establishments.
With over 90% of India's workforce in the informal sector, this initiative aims to transition these workers into formal employment while ensuring minimum wages and social security benefits.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.