ATAL BEEMIT VYAKTI KALYAN YOJANA (ABVKY)

  • November 9, 2020
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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Subject: Govt Schemes

Context: Ministry of Labour and Employment said that submitting claims through Affidavit Form is now no longer required under Atal Beemit Vyakti Kalyan Yojana (ABVKY) of Employees’ State Insurance Corporation- ESIC.

Concept:

  • Atal Bimit Vyakti Kalyan Yojana is a welfare measure being implemented by the Employee’s State Insurance (ESI) Corporation.
  • It offers cash compensation to insured persons when they are rendered unemployed.
  • The scheme provides relief to the extent of 50% of the average per day earning during the previous four contribution periods (total earning during the four contribution period/730) to be paid up to maximum 90 days of unemployment once in lifetime of the Insured Person.
  • The Scheme was introduced w.e.f. 01-07-2018. The ESI Corporation in its meeting held in August this year had extended the Atal Beemit Vyakti Kalyan Yojana’ from 1st of July, 2020 to 30th June,2021.
ATAL BEEMIT VYAKTI KALYAN YOJANA (ABVKY) Government Schemes