What are the features of ELI Scheme, which will give 1-month EPF wage to 1st-time staff?
Centre launched Employment Linked Incentive (ELI) Scheme to incentivise creation of over 3.5 crore jobs over two years. ELIS will pay one-month EPF wage up to ₹15,000 to employees in two instalments, one after six and another after 12-month service. Additionally, employers will get ₹3,000/month for each employee working for at least six months and earning up to ₹1 lakh/month.