Atal Beemit Vyakti Kalyan Yojana

Relevance: Prelims/Mains: G.S Paper II: Polity & Governance

WHY IN NEWS?

Atal Bimit Vyakti Kalyan Yojana: Labour Minister said that claims for payment of unemployment benefit under its Atal Bimit Vyakti Kalyan Yojana run by the ESIC will be settled within 15 days from the date of an application.

The Employees’ State Insurance Corporation (ESIC) board on Thursday had relaxed norms to double payment of unemployment benefit under the scheme to 50 per cent of average wages of three months to cope with job loss between March 24 and December 31 this year in view of the COVID-19 pandemic.

ABOUT

Atal Bimit Vyakti Kalyan Yojana is a welfare measure being implemented by the Employee’s State Insurance (ESI) Corporation. It offers cash compensation to insured persons when they are rendered unemployed.

The Scheme was introduced w.e.f. 01-07-2018. The scheme is implemented on pilot basis for a period of two years initially.

Benefits under the scheme

The scheme provides relief to the extent of 25% of the average per day earning during the previous four contribution periods (total earning during the four contribution period/730) to be paid up to maximum 90 days of unemployment once in lifetime of the Insured Person.

Duration of allowance

1. The maximum duration, for which an IP shall be eligible to draw the Relief under the Atal Beemit Vyakti Kalyan Yojana (ABVKY) will be 90 days once in life time after a minimum of two years of Insurable Employment and subject to the contributory conditions specified above. The claim for relief under the Atal Beemit Kalyaan Yojana will be payable after the three months of his/her clear unemployment. The relief will be paid for clear month of unemployment. No prospective claim will be allowed.
2. In case the beneficiary gets gainful employment in between the three months of unemployment for which he was eligible for relief under ABVKY, the relief will be payable for clear month of unemployment between the date of unemployment and date of re-employment. The balance of 90 days of relief in this case may be claimed in the same manner as mentioned above based upon the initial contributory conditions by the beneficiary in case he again renders unemployed from Insurable employment within one year from initial unemployment.

For more such notes, Articles, News & Views Join our Telegram Channel.

https://t.me/triumphias

Click the link below to see the details about the UPSC –Civils courses offered by Triumph IAS. https://triumphias.com/pages-all-courses.php