ATAL BIMIT VYAKTIKALYAN YOJANA

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.