Those joining the job for the first time are happy, the government will send Rs 15,000 directly to their account.

If you are also going to start your career or are about to get your first job, then this news will bring a smile on your face. The Ministry of Labor and Employment of the Central Government has made a big announcement. Under the government’s ‘Pradhan Mantri Vikas Bharat Rozgar Yojana’ (PMVRY), youth doing jobs for the first time will be given an incentive amount of Rs 15,000. The ministry itself has shared the information about this wonderful scheme by tweeting.

Who will get the benefit of this scheme?

The benefit of this scheme will be available to every employee who is joining for the first time in a company where EPFO ​​(Employees’ Provident Fund Organization) facility is available. According to the ministry, this amount is only for those who are registering on the EPFO ​​portal for the first time. If you have ever worked in a PF registered company before, you will not be eligible for it. To understand the specifics of this scheme, you can also visit the official website of the government pmvry.labour.gov.in.

what to do to get money

The process to get this incentive amount of Rs 15,000 is very simple. As soon as you start your first job in an institute, your institute opens your EPFO ​​account. As soon as the account is opened, you get registered in the system. After this, this amount gets linked to your PF account and you get it as incentive. The good thing is that to avail the benefits of this scheme, you can also do online registration sitting at home.

Withdrawal of money from PF becomes even easier

This is for the newly employed people, but there is relief news for those who are already working and are registered in PF. The rules for withdrawing money from PF have now been made simpler than ever. Not only this, in the coming time EPFO ​​is preparing to provide its members the facility to withdraw PF balance through ATM card also. Now you can easily withdraw funds for purposes like marriage, home repair, children’s education or treatment.

When and how much amount can you withdraw

The limit for withdrawing money from PF account depends on your need. If someone loses his job, he can immediately withdraw 75% of his total deposits. If the person remains unemployed for the next 12 months, he can also withdraw the remaining 25% i.e. the entire money.

Additionally, if you have completed 7 years of service, up to 50% of the amount can be withdrawn for marriage. In case of serious illness or treatment, there is no time limit for service; You can withdraw the entire amount equal to your 6 months’ salary or as per the treatment expenses. The rules for buying or renovating a house have now become quite flexible.