Budget 2024: Employees To Get One Month's Salary Free, Announces FM Sitharaman| Here’s How
Finance Minister Nirmala Sitharaman introduced a novel scheme for new workforce entrants. Employees with monthly salaries up to Rs 1 lakh will receive a one-month salary as a Provident Fund contribution. This benefit, capped at Rs 15,000, will be distributed in three installments via direct benefit transfer (DBT). The initiative is expected to benefit 2.1 lakh young people entering the job market. This marks a significant move to support new employees and potentially stimulate workforce participation.
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