Latest news with #UnionLabour&Employment
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Govt asks states to align job schemes with ₹99,446-cr ELI programme
The Centre has called on states to align their employment-oriented initiatives with the newly launched Employment Linked Incentive (ELI) Scheme. This move is aimed to maximise job creation, deepen formalisation, and strengthen the country's employment ecosystem. Chairing a high-level virtual meeting with state labour and industry ministers on Monday, Union Labour & Employment Minister Mansukh Mandaviya said, 'Labour and industry are two sides of the same coin. Both must work in close coordination for the greater good of the nation's workforce and economy.' Mandaviya urged the state governments to integrate their existing employment programmes with the ELI scheme's objectives to ensure coordination and avoid duplication of efforts. Referring to the Reserve Bank of India's KLEMS data, Mandaviya noted that over 170 million employment opportunities were generated over the past decade, mainly in sectors such as construction, manufacturing, and services. 'We must build on this momentum. The ELI Scheme is a strategic tool to do so,' he said. What is the Employment Linked Incentive scheme? The Employment Linked Incentive scheme, or ELI, is a central government initiative aimed at accelerating formal job creation by providing financial incentives to employers who generate net new employment, particularly for the youth. The scheme has a total outlay of ₹99,446 crore and targets the creation of 35 million jobs within two years. The ELI scheme is seen as the next major step after the Production Linked Incentive (PLI) programme. 'The ELI Scheme represents the next step in building an Atmanirbhar Bharat. It is a win-win for employers and job seekers alike,' Mandaviya said, adding that procedural formalities have been simplified to ensure ease of access and mass adoption. Ministry secretary Vandana Gurnani added that the first instalment of incentives under the scheme would be disbursed following six months of continuous employment. Gurnani added that the scheme also seeks to extend social security coverage and improve employability, particularly in the manufacturing sector. States to hold district-level meetings on ELI This meeting was well received, with ministers from states including Gujarat, Assam, Bihar, Madhya Pradesh, Jharkhand, Chhattisgarh and Arunachal Pradesh expressed support for the scheme and assured cooperation in its rollout. While many agreed to align their state-run employment initiatives with the ELI scheme, others also suggested holding district-level awareness programmes, in a bid to encourage collaboration with industry chambers and local businesses. [With agency inputs]
India Gazette
24-06-2025
- Business
- India Gazette
EPFO increased auto-settlement limit for advance claims from Rs 1 lakh to Rs 5 lakhs: Mansukh Mandaviya
New Delhi [India], June 24 (ANI): Union Labour & Employment Minister Mansukh Mandaviya on Tuesday said that EPFO has increased the auto-settlement limit for advance claims from Rs 1 lakh to Rs 5 lakhs to facilitate faster fund access for EPFO members, especially in times of urgent needs. Mandaviya said that this major service enhancement is expected to benefit lakhs of members. EPFO had first introduced auto-settlement of advance claims during the COVID-19 pandemic to provide quick financial assistance to members. Since then, the facility has been extended to cover advanced claims for illness, education, marriage, and housing purposes. 'These claims are processed automatically by the system without any human involvement, ensuring quick turnaround and transparency,' he added. The Union Minister further added that EPFO in recent times has taken a series of reforms designed to make EPFO services faster, transparent and user-friendly for all its stakeholders including simplification of KYC or member details correction, removal of dependency on employer and EPFO for member profile correction. Union Minister Mansukh Mandaviya said that in FY 2024-25, EPFO processed a record 2.34 crore advance claims through auto-settlement, a 161 per cent increase compared to 89.52 lakh claims in FY 2023-24. Notably, 59 per cent of all advance claims in 2024-25 were settled through the auto mode as compared to 31 per cent in 2023-24. In just the first 2.5 months of FY 2025-26, EPFO has already auto-settled 76.52 lakh claims, constituting 70 per cent of all advance claims settled to date. This growth highlights EPFO's strong focus on automation and delivering faster, more efficient services to its members. 'These reforms have not only accelerated the claim settlement process but have also contributed to minimising member grievances, further enhancing ease of living for the member' he added. (ANI)
