The government has extended the unemployment scheme, the Atal Beemit Vyakti Kalyan Yojana, under the Employees’ State Insurance Corporation (ESIC) for a period of two years up to June 30, 2024.
“It has been decided to extend the Atal Beemit Vyakti Kalyan Yojana for the period 01.07.2022 to 30.06.2024 with the relaxed eligibility conditions and enhanced rate of relief,” the ministry of labour and employment said in a gazette notification. This is the third extension to the scheme with two extensions given each in 2020 and 2021 to financially support ESIC beneficiaries who had lost jobs during the pandemic.
Launched in 2018 on a pilot basis for a period of two years, the Atal Beemit Vyakti Kalyan Yojana provides relief in the form of cash compensation up to 90 days to the insured persons (IPs) under ESIC who have become unemployed.
However, with the outbreak of Covid and subsequent lockdown, the government extended the unemployment scheme while also relaxing the eligibility criteria and enhancing the compensation amount. The existing benefits under the scheme include enhanced rate of unemployment relief of 50% of wages as against 25% earlier along with relaxation in eligibility conditions which includes availing benefit after 30 days from the date of employment.
Benefits under ABVKY can be availed by insured person who have been in insurable employment for a minimum period of two years immediately before his/her unemployment and have contributed for not less than 78 days in the contribution period immediately preceding to unemployment and minimum 78 days in one of the remaining three contribution periods in two years prior to unemployment.
Earlier, a minimum contribution of 78 days in each of four contribution periods was required. Further, the claim under the scheme earlier could be made after 90 days of being unemployed which has now been reduced to 30 days.
As per the government data, 66,013 employees availed unemployment benefits under the scheme Atal Beemit Vyakti Kalyan Yojana (ABVKY) and an amount of Rs. 87.83 crores were disbursed between July 1, 2018 and December 12, 2022.
Comments