Atal Beemit Vyakti Kalyan Yojana
Why in News?
The Employees' State Insurance Corporation (ESIC) officially extended the Atal Beemit Vyakti Kalyan Yojana (ABVKY) by another year, shifting its expiry from June 30, 2026, to June 30, 2027.
About
- Launch: Implemented on a pilot basis by the ESIC starting July 1, 2018.
- Core Objective: Acts as an unemployment welfare safety net by offering cash compensation to workers who face involuntary job loss.
- Implementing Body: Managed directly under the Ministry of Labour & Employment, Government of India through the ESIC.
Key Financial Benefits
- Compensation Quantum: Beneficiaries receive a financial relief equal to 50% of their average daily wages.
- Maximum Duration: Paid for a maximum period of 90 days.
- Frequency: This is a once-in-a-lifetime relief option.
- Waiting Period: The benefit becomes claimable and due just 30 days from the date of clear unemployment.
- Disbursal Mode: Transferred seamlessly via Direct Benefit Transfer (DBT) directly into the bank account of the insured person.
Eligibility Criteria
- Sector & Cap: Applicable to private-sector employees covered under the ESI Act, 1948 earning a monthly wage of ₹21,000 or less.
- Employment Tenure: The individual must have been in insurable employment for a minimum period of 12 months immediately preceding their layoff.
- Contribution Rule: Must have contributed to the scheme for not less than 78 days within a completed contribution period in those 12 months.
- Nature of Job Loss: The unemployment must be involuntary. It must not stem from personal misconduct, superannuation (retirement), voluntary retirement, or legal lockouts.
- Direct Submission: Workers can submit claims directly via the online portal to the ESIC Branch Office using an affidavit form.
- No Employer Dependency: Claims do not require routing or forwarding through the last employer, ensuring hassle-free distribution.
