ATAL BEEMIT VYAKTI KALYAN YOJANA (ABVKY)

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.