Atal Bimit Vyakti Kalyan Yojana – Unemployment allowance | Fusion - WeRIndia

Atal Bimit Vyakti Kalyan Yojana – Unemployment allowance

Atal Bimit Vyakti Kalyan Yojana – Unemployment allowance

Due to the pandemic, many people lost their jobs. Most of them are facing a financial crunch. Good news to them, as they can use Atal Bimit Vyakti Kalyan Yojana.

To help the unemployed, the government introduced Atal Bimit Vyakti Kalyan Yojana (ABVKY) in 2018 to implement for two years on a pilot basis. But, due to the pandemic, the scheme had been extended to 30 June 2021. Now, the government extended the scheme till 30 June 2022.

The Employees’ State Insurance Corporation (ESIC) implements the scheme by offering cash compensation to insured people in the event of their job loss.

Any employee associated with ESIC can apply for financial assistance under the scheme. In other words, employees working in an organized sector in a company that deducts PF or ESI from their salary are eligible for this scheme. Companies issue ESI cards to employees whose monthly salary is below ₹21,000 to provide ESI benefits.

To use ABVKY, employees have to work with the company for two years. If a person is working with more than one employer, then he/she shall be considered unemployed only after losing a job with all of them.

Eligible employees can get this allowance for three months. The allowance is up to 50% of their average salary. One can claim the allowance after 30 days of job loss.

If you are eligible to get an unemployment allowance, then register for the scheme. To register, visit the website of ESIC. Download the form of ABVKY. Fill in the form with all required details and submit it to the nearest branch of ESIC with all relevant documents.

Those who lose their job due to wrong conduct or have criminal cases against them are not eligible for ABVKY. Employees who have taken a Voluntary Retirement (VRS) are also not eligible.

Image by Kundan Kumar from Pixahive (Free for commercial use / CC0 Public Domain)

Image Reference:

Leave a Reply

Your email address will not be published. Required fields are marked *