Vijayawada: The AP Chambers of Commerce and Industry Federation (AP Chambers) conducted an awareness session at its premises here on Thursday on the Employment Linked Incentive (ELI) scheme and TDS/TCS provisions and compliances. The session brought together senior officials from the Employees’ Provident Fund Organisation (EPFO) and the Income Tax Department. Officials from EPFO provided a comprehensive overview of the ELI scheme, a landmark initiative announced in the Union Budget 2024–25 and approved by the Union Cabinet under the leadership of Prime Minister Narendra Modi.
The scheme’s primary goal is to generate over 3.5 crore new jobs and integrate 1.92 crore first-time employees into the formal workforce by incentivising employers who hire additional workers. The ELI scheme offers financial incentives to both employers and first-time employees, aiming to boost job creation and EPFO registration, particularly within the manufacturing sector. Key features highlighted during the session included wage-based incentives, mandatory EPFO registration, Aadhaar-based Direct Benefit Transfers (DBT), and extended incentives specifically for the manufacturing sector. The officials emphasised how the ELI Scheme will accelerate formal job creation and significantly improve social security coverage.
P Veerabhadra Swamy, Additional Central PF Commissioner, Hemong Venkatesh, Regional PF Commissioner–I, Prabhudatta Prushty, Regional PF Commissioner–I and Abdul Khader, Regional PF Commissioner–II participated.
Following the EPFO session, P Anil Kumar, officer from the Income Tax Department (TDS), here delivered a focused presentation on TDS/TCS provisions and compliances. His session covered the latest updates, essential compliance timelines, and practical guidance for businesses to prevent penalties and ensure accurate tax deduction and reporting.
The programme was spearheaded by Potluri Bhaskara Rao, president of AP Chambers, B Raja Sekhar, General Secretary and Akkaiah Naidu, Treasurer. The session saw enthusiastic participation from approximately 100 representatives from diverse sectors, including MSMEs, manufacturing, services, trading, and professional firms.
Attendees found the session highly informative and timely, widely appreciating AP Chambers’ initiative for raising awareness on these crucial reforms and helping industry members stay informed and compliant.
