The Employee’s State Insurance (ESI) has approved a scheme named ‘Atal Bimit Vyakti Kalyan Yojna’ for unemployed Insured Persons (IP) covered under the Employees’ State Insurance Act, 1948.
This scheme is a relief payable in cash directly to their Bank Account in case of unemployment and while they search for new engagement.
Further, ESIC approved the proposal to increase the funeral expenses from existing Rs. 10,000 to Rs. 15,000 being paid on the death of Insured Person.
About Atal Bimit Vyakti Kalyan Yojna
It aim is to financially aid people who lost jobs because of the changing employment patterns
Insured persons covered under Employees’ State Insurance Act, 1948 for period of two years continuously.
Details of the scheme
♦The benefit under the scheme will be payable in cash directly to bank account of insured persons in case of unemployment.
♦It will be provided to the beneficiaries even while searching for jobs.
♦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 date of leaving their previous jobs. They have an option to get the amount as whole or in installments.
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 Employmen