Have you also suddenly lost your job? So don’t panic… the government will give you money every month while sitting at home; You just have to accept these conditions!

Atal Beemit Vyakti Kalyan Yojana: Sometimes such turns come in life which we had not even imagined. Everything goes well but suddenly for some reason he is fired from the job. In such a situation, the biggest tension arises that what will we eat now, how will the house be run, how will the expenses be met, how will the EMI be paid, how will the children’s fees be paid, who knows when the next job will be available. Many such questions start coming to mind. Many times people go into stress due to sudden job loss. Many times companies neither pay salary nor give compensation after termination. In such a situation, a mountain of problems arises in front of the employees. If you are also a working person then there is absolutely no need to worry alone in such difficult times. The Government of India has an excellent scheme – Atal Beemit Vyakti Kalyan Yojana, which has been created to support the employees in such bad days. Know what is this scheme, what are its benefits, how to get its benefits, what are the application method and terms and conditions?

What is Atal Bimit Vyakti Kalyan Yojana?

This scheme is an initiative of the Employees’ State Insurance Corporation (ESIC) under which an employee gets 50 percent of the basic salary as compensation in case of sudden job loss. For this, one has to apply after 30 days of job loss or unemployment, in return for which 50 percent of the basic salary is sent directly to the bank account of the employee for 90 days.

However, you can avail the benefit of financial help only once in your lifetime for 90 days. The government has extended the duration of Atal Bimit Vyakti Kalyan Yojana till June 30, 2027. To apply for this scheme and get compensation, some rules have to be followed and some conditions also have to be followed. This scheme was started from July 1, 2018 under Section 2(9) of the ESI Act, 1948.

What are the conditions of the scheme?

To get compensation for three months under the Atal Bimit Vyakti Kalyan Yojana, you will have to compulsorily follow the conditions given below, only then you will be able to avail the benefit of financial assistance.

• Employees should be covered under ESIC Act, 1948
• Employee’s contribution should be deposited in ESI.
• No criminal case should be registered against the employee.
• The claimant should not have voluntarily retired or resigned.
• The claimant must have worked at the same place for at least 2 years
• Must have contributed at least 78 days in the 12 months immediately preceding unemployment.

When, where and how can you apply

If your job is in danger or you have recently become unemployed, you can claim your compensation within the next 30 days.

-First of all go to the official site. Click on Services on the home page.

-Go to the IP portal in the employee section. Select the insured person and sign up.

-If you are a new user then ‘Sign Up’. Fill your insurance number, date of birth and mobile number.

-After this you will get the user name and password for login. Open your account through this.

-Select the plan to submit your claim. Fill the AB-1 form carefully with bank account details.

Upload all the requested documents. And submit your application form.

Compensation will reach directly into account

You will have to take photocopies of your application form and all documents. This has to be submitted in your nominated ESIC branch office in the duly signed claim affidavit.

Within a few days, the compensation amount received under ABVKY will be transferred directly to the bank accounts of the claimants. For this, the claimant’s bank account details should be available in the ESIC database.

What documents will be required

1. Aadhaar Card
2. Bank Passbook/Cancelled Check (Account Number, IFSC Code, Branch Name)
3. Insurance Details
4. Proof of Address
5. Details of the employer
6. An affidavit
7. Salary slips of last two months
8. Attendance book of the applicant
9. Any other relevant documents if required

Also read:- Do you also have the ‘disease’ of repeatedly checking your bank balance? Know how a 2 second habit makes you financially strong!

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