- Atal Bimit Vyakti Kalyan Yojana is a welfare measure of Ministry of Labour and Welfare, implemented by the Employee’s State Insurance Corporation (ESIC).
- Announced in 2018, it offers cash compensation to insured persons when they are rendered unemployed.
- The scheme was then extended upto 20 June 2021.
- The scheme provides relief upto 50% of the average per day earning during the previous four contribution periods.
- The amount will be paid up to maximum 90 days of unemployment once in lifetime of the Insured Person (IP).
- The benefit under the scheme can be availed after a minimum of two years of Insurable Employment.
- The claim for relief under this scheme will be payable after three months of his/her clear unemployment.
- Employees covered under Section 2(9) of the ESI Act 1948.
- The Insured Person (IP) should have been rendered unemployed during the period for which relief is claimed.
- The IP should have been in insurable employment for a minimum period of two years.
- The IP should have contributed not less than 78 days during each of the preceding four contribution periods.
- The contribution in respect of him should have been paid or payable by the employer.
- The contingency of the unemployment should not have been as a result of any punishment for misconduct or superannuation or voluntary retirement.
- Aadhar and Bank Account of the Insured Person should be linked with insured person database.
Other conditions for administration of the scheme
- In case the IP is working for more than one employer and is covered under the ESI scheme he will be considered unemployed only in case he is rendered unemployed with all employers.
- An IP shall not be entitled to any other cash compensation and the Relief under ABVKY simultaneously for the same period.
- The IP will be eligible for medical benefit as provided under the Act for the period he is availing this relief.
Also Read: PM-SMY