Monday, February 24, 2025 | 05:03 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Relief after job loss: Who will fund the Atal Bimit Vyakti Kalyan Yojana?

Those who had subscribed to the ESIC for two years continuously will be allowed to avail of the unemployment benefit to the tune of 47 per cent of their total contribution

jobs, employment, work
Premium

The ABVKY will provide cash allowance to ESIC subscribers who are unemployed for at least three months in a row

Somesh Jha New Delhi
The Ministry of Labour and Employment on Wednesday announced a scheme to financially support those who lost their jobs and were covered under the Employees' State Insurance Act, 1948. Somesh Jha explains the key features.

What are the key features of the Atal Bimit Vyakti Kalyan Yojana (ABVKY)?
 
The ABVKY is a scheme approved by the Employees’ State Insurance Corporation (ESIC) that aims to benefit its subscribers, who are mainly formal sector workers who have become unemployed for whatever reason, by providing cash through bank account transfer. At present, the government of India does not provide any unemployment allowance.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in