Atal Bimit Vyakti Kalyan Yojana

Subject: Schemes

Context:

Atal Bimit Vyakti Kalyan Yojana  has been extended by one more year to June 30, 2021 and Centre announced that workers can directly claim 50 per cent of the average wage as against 25 per cent earlier, payable up to 90 days of joblessness

Concept:

• The ESI Corporation has launched a scheme named ‘Atal Bimit Vyakti Kalyan Yojana’ (ABVKY)
• It aims to financially support those who lost their jobs or rendered jobless for whatsoever reasons due to changing employment pattern.
• Its beneficiaries will be insured persons covered under Employees’ State Insurance Act, 1948 for period of two years continuously.
• It provides relief to the extent of 25% of the average per day earning during the previous four contribution periods to be paid up to maximum 90 days of unemployment once in lifetime of the IP on submission of claim in form of an Affidavit.
• The Scheme has been made effective from July 2018.