Job loss: You can now claim upto 50 per cent of your salary through ABVKY scheme
Job loss: You can now claim upto 50 per cent of your salary through ABVKY schemeImage Source: Unsplash

Job loss: You can now claim upto 50 per cent of your salary through ABVKY scheme

But as the country gradually begins to open up, the centre has extended Atal Bheemit Vyakti Kalyan Yojana (ABVKY) for people who have lost their jobs.

While the sudden lockdown has pushed the country's economy into a limbo, the result has been seen in every sector. Job loss has also been one of the biggest repercussions of the lockdown.

But as the country gradually begins to open up, the centre has extended Atal Bheemit Vyakti Kalyan Yojana (ABVKY) for people who have lost their jobs.

The centre also has decided to enhance the relief rate of unemployment under the scheme to 50 per cent of wages along with relaxations in eligibility criteria until December 31, 2020. This was earlier marked at 25 per cent.

Under the scheme, people who have lost their jobs can claim upto 50 per cent of their wages for up to three months as relief, even if they have found another work.

The Employees’ State Insurance Corporation (ESIC) has promised to deploy Rs 44, 000 crores from its fund with a formal notification. The process has also been made speedy to ensure relief to the people as the assistance time has been now reduced to 30 days from the earlier limit of 90 days.

The scheme which was introduced on 01-07-2018, will not be available with the original eligibility condition during the period January 1, 2021 to June 30, 2021.

The scheme is implemented on pilot basis for a period of two years initially.

Benefits and Eligibility for the scheme

According to the average per day earning, the scheme provides relief to the extent of 25 per cent during the previous four contribution periods (total earning during the four contribution period/730). This amount has to be be paid in up to maximum 90 days to the insured person, once in his lifetime.

It is important to note that the person should have lost the job in the period the relief is claimed in order to avail the benefits.

Documents required: The claim can be made online at website www.esic.in along with submission of the physical claim with an affidavit, photocopy of Aadhaar Card and Bank Account details to the designated ESIC Branch Office by post or in person. The claim can be filled by workers too.

Aadhaar and bank account of the insured person are mandatory and should be linked with the Insured Person database.

The payments can be expected in the bank account of the insured person within 15 days of the receipt of the claim.

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