Unemployment Insurance Atal Bimit Vyakti Kalyan Yojana: It is a central government scheme. Its main aim is to financially help those who lost their jobs due to changing employment patterns.
This can be a difficult time for all of us due to the spreading of COVID-19 all over the world. As COVID-19 causes several job losses all over India, you can take advantage of Atal Bimit Vyakti Kalyan Yojana. Food and Accommodation, Retail and wholesale, Business services and administration, Manufacturing are 4 major sectors that are affecting by lockdown due to COVID-19.
- 1 About Atal Bimit Vyakti Kalyan Yojana
- 2 ESIC Employees’ State Insurance Corporation
- 3 Relief after Job Loss Aim
- 4 Features of Atal Bimit Vyakti Kalyan Yojana
- 5 Employees’ State Insurance (ESI)
- 6 Properties of the Unemployment Insurance Scheme
- 7 Significance of the Atal Bimit Vyakti Kalyan Yojana
- 8 Documents needed to apply online for Atal Bimit Vyakti Kalyan Yojana
- 9 How to Apply for Atal Bimit Vyakti Kalyan Yojana?
About Atal Bimit Vyakti Kalyan Yojana
The Employee State Insurance ESI has approved a scheme for Insured persons covered under the Employees State Insurance Act 1948 for 2 years continuously. It is a central government scheme.
ESIC Employees’ State Insurance Corporation
ESIC Employees’ State Insurance Corporation is a statutory corporate body,Administrative of Ministry of Labour and Employment & responsible of ESI Scheme, set up under the ESI Act 1948. Employee state Insurance is a health insurance and social security scheme for Indian workers. The fund is managed by ESIC according to as per rules and regulations.
ESI is a social security scheme to protect the employees against financial distress. ESIC headquarter is at New Delhi.
Relief after Job Loss Aim
Its aim to financially help those who lost their jobs due to changing employment patterns.
Features of Atal Bimit Vyakti Kalyan Yojana
- Under the Cash Assistance scheme, relief will be payable in cash directly to the bank account of insured persons in case of unemployment.
- After remaining unemployed for at least 3 months, towards ESIC workers will be able to draw 47% of their contributions
- They can receive money at one go or in installments.
- It will apply to all factory workers and establishments employing at least 10 workers.
- During the period the relief is claimed, an Insured Person should have been rendered unemployed.
- An insured person have been in insurable employment for a minimum period of 2 years.
- During each 4 Contributed period, not contributed less than 78 days.
- Aadhar and Bank Account should be linked with the database.
- It the insured person is working for more than 1 employer and is covered under the ESIC scheme he will be considered unemployed only if he is rendered unemployed with all employers.
Employees’ State Insurance (ESI)
- ESIC is an Indian Government autonomous body that regulates medical & health services.
- The ESI Act 1948major legislation on social security for workers in India.
- ESI provides for health services, such as sickness, maternity, and disability.
- Covers disease or death due to employment injury.
- Ministry of Labor and Employment decided the rate of contribution of the employers and employees.
- Employees with wages up to Rs. 20,000 a month are entitled to health insurance cover with other benefits.
Properties of the Unemployment Insurance Scheme
- An Insured Person shall not be entitled to any other cash compensation and the relief under ABVKY simultaneously for the same period as specified in section 65 of the ESI Act.
- The contribution in respect of the insured person should have been paid or payable by the employer.
- The unemployment should not have been as a result of any punishment or superannuation or voluntary retirement VRS.
- The insured person will be eligible for Medical Health.
- The Insured person submits his claim online through the ESIC portal.
- The relief under ABVKY shall be paid or payable by the Branch Office to Insured person’s bank account directly.
- Insured persons avail benefits only once in their life.
Significance of the Atal Bimit Vyakti Kalyan Yojana
- This scheme is a relief payable in cash directly to an Insured person’s bank account.
- It will diminish the more than one registrations of the same insured persons.
- Enable the insured person to avail of the benefits requiring longer contributory conditions.
- This relaxation will immensely help the persons & their beneficiaries.
Documents needed to apply online for Atal Bimit Vyakti Kalyan Yojana
- Aadhar Card
- Voter ID Card
- Bank account
- Pan card
- Experience certificate
How to Apply for Atal Bimit Vyakti Kalyan Yojana?
- Go to the Official website of ESIC
- Download the Application form of Atal Bimit Kalyan Yojana
- Fill the details and attach the relevant documents as per the prescribed format.
- Now submit the completed application form at nearby ESIC Office with a non-judicial paper of Rs. 20 affixed with a notary.
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Last Updated: July 7,2020 12:00:28 AM