Atal Bimit Vyakti Kalyan Yojana
Tribute to former our PM Mr. Atal Bihari Vajpayee .
A new scheme named ‘Atal Bimit Vyakti Kalyan Yojna’ for Insured Persons (IP) covered under the Employees’ State Insurance Act, 1948 has been approved by the ESIC.
ESIC (Employees’ State Insurance Corporation)
The person who is insured under ESIC can avail Atal Bimit Vyakti Kalyan Yojana.
Its aims are to financially aid people who lost jobs because of the changing employment patterns.
Insured persons covered under the Employees’ State Insurance Act, 1948 for the period of two years continuously.
Details of the scheme:
The benefit of the scheme will be payable in cash directly to the bank account of insured persons in case of unemployment.
DIFFERENCE BETWEEN ONGOING SCHEME
The ongoing Rajiv Gandhi Shramik Kalyan Yojana(RGSKY) benefits formal sector workers registered with the ESIC.
RGSKY introduced in 2005.
Difference between RGSKY and Atal Bimit Vyakti Kalyan Yojana is that RGSKY will help when the industry is stopped working while in Atal Bimit Vyakti Kalyan Yojana it will help a person’s when it’s contract is terminated from the industry and the person is unemployed again.
The money will be paid from their own contribution towards ESI scheme, in cash through bank account transfer.
The scheme will be applicable to all factories and establishments employing at least 10 workers.
Workers will be able to draw 47% of their total contributions towards ESIC after remaining unemployed for at least three months from the date of leaving their previous jobs.
About Employee State Insurance (ESI)
It is a self-financing social security and health insurance scheme for Indian workers.
It is managed by Employees’ State Insurance Corporation (ESIC) according to rules and regulations stipulated there in the ESI Act 1948.
It is a statutory autonomous corporation under the Ministry of Labour and Employment.
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