atal bimit vyakti kalyan yojana - officers pulse
Post on 09-Feb-2022
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The scheme provides reliefto the extent of 25% of theaverage per day earningduring the previous fourcontribution periods to bepaid up to a maximum 90days of unemployment oncein the lifetime of the InsuredPerson.
It aims to financiallysupport those who lost
their jobs or renderedjobless for whatsoever
reasons due to changingemployment patterns.
ABOUT THE SCHEME
Employees covered underSection 2(9) of the ESI
Act 1948.The Insured Person shouldhave been in insurableemployment for a minimumperiod of two years.
ELIGIBILITY
The Insured Person shouldhave contributed not less
than 78 days during each ofthe preceding four
contribution periods.The contingency ofunemployment should nothave been as a result of anypunishment for misconductor superannuation orvoluntary retirement.
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The Employees' StateInsurance Corporation (ESIC)
has launched a schemenamed ‘Atal Bimit Vyakti
Kalyan Yojana’ (ABVKY) inJuly 2019.
The Scheme has beenmade effective from 01-07-2018.
WHAT’S IN THE NEWS?
EMPLOYEES' STATEINSURANCE
CORPORATION (ESIC)
it was established under theEmployees’ State Insurance
Act, 1948(ESI Act) by theMinistry of Labour and
Employment. It is an autonomousorganization and it managesthe funds of all employeesearning Rs 21,000 or less permonth.
Employees’ State Insuranceincludes self-financing social
security and healthinsurance scheme for Indian
workers.
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