News: Employees’ State Insurance Corporation(ESIC) has extended the ‘Atal Bimit Vyakti Kalyan Yojna’ for another one year to provide relief to workers in view of the Covid pandemic.
- Atal Bimit Vyakti Kalyan Yojana: It was launched in 2018 by Employees State Insurance(ESI) Corporation.
- Aim: To provide financial support to those who lost their jobs or rendered jobless for whatsoever reasons due to changing employment patterns.
- Coverage: The scheme is for Insured Persons(IP) covered under the Employees State Insurance Act, 1948.
Key Changes approved and Eligibility Criteria:
- The payment of relief has been enhanced to 50% of average wages from earlier 25% of average wages payable upto maximum 90 days of unemployment.
- Instead of the relief becoming payable 90 days after unemployment, it shall become due for payment after 30 days.
- The Insured Person can submit the claim directly to the ESIC Branch Office instead of the claim being forwarded by the last employer and the payment shall be made directly in the bank account of IP.
- The Insured Person should have been insurable employment for a minimum period of 2 years before his/her unemployment and should have contributed for not less than 78 days in the contribution period immediately preceding to unemployment.
- Employees State Insurance Act 1948: It was the first major legislation on social security for workers in India.The act provides for medical, cash, maternity, disability and dependent benefits to the Insured Persons under the Act.
- ESIC: It is a Statutory and Administrative body under the Ministry of Labour and Employment.It administers ESIC Act,1948.