The government has decided to prolong the duration of the Atal Beemit Vyakti Kalyan Yojana, the unemployment scheme under the Employees’ State Insurance Corporation, for an additional two years until June 30, 2024.
This marks the scheme’s third extension, with previous extensions granted in both 2020 and 2021. These extensions aim to continue providing financial support to ESIC beneficiaries who faced job losses during the pandemic
Atal Beemit Vyakti Kalyan Yojana: A Welfare Measure for ESIC Covered Employees During Unemployment
The scheme was initially introduced on a pilot basis in 2018, intended to run for two years. However, due to the outbreak of Covid and the ensuing lockdown, the government extended the unemployment scheme beyond its initial duration.
This scheme serves as a welfare initiative for employees falling under Section 2(9) of the ESI Act, 1948, offering them relief payments for a period of up to 90 days in the event of unemployment, but limited to a one-time benefit.
Under this scheme, eligible beneficiaries receive relief equal to 50% of their average per day earnings from the preceding four contribution periods. This is calculated as the total earning during those four periods divided by 730.
Eligibility Criteria for ABVKY Benefits
To avail the benefits offered by ABVKY, insured individuals must satisfy the following criteria:
- The person should have been in insurable employment for a minimum of two years prior to their unemployment.
- They must have contributed for at least 78 days during the contribution period immediately preceding their unemployment and a minimum of 78 days in at least one of the remaining three contribution periods within the two years prior to their unemployment.
Eligible individuals seeking benefits from the Atal Beemit Vyakti Kalyan Yojana can apply by submitting appropriate documents, including the ESI card or relevant paperwork from their employing company.
Key takeaways for competitive examinations
- Director General of Employees’ State Insurance Corporation: Rajendra Kumar