Private sector employees to get financial support in case of job loss

The private sector employees will no more have to be worried if they lose their jobs or rendered jobless for whatsoever reasons. The Employee’s State Insurance Corporation (ESIC) has announced to help workers in such a condition under the ‘Atal Bimit Vyakti Kalyan Yojna’. The ESIC  will now provide unemployment allowance to such employees for a period of two years. 

The ESIC made the announcement in this regard in a tweet on Sunday. The ESIC tweeted, quitting job does not mean loss of income.

ESIC pays monthly cash amount for a period of 24 months in case of permanent disability due to involuntary loss of employment or non-employment injury.

The ‘Atal Bimit Vyakti Kalyan Yojna’ provides benefits to Insured Persons in case they get unemployed for sometime and search for new job. The cash benefits given to the unemployed persons searching for new employment is 25 per cent of his or her average earning of 90 days. Under it, relief will be payable in cash directly to bank account of insured persons. 

How to avail this?

To avail the benefits, you can download the form by visiting the website of ESIC. After filling it, you can submit it to any branch of ESIC. With this form, a non-judicial paper of Rs 20 will have to be affixed to the notary, in which form AB-1 to AB-4 will also be submitted. For more information, you can visit the official website ( http://www.esic.nic.in ). 

Who will not get the benefit of the scheme

Any person insured with ESIC who is expelled from the company for any reason or if any type of criminal case is filed against that person, then he or she will not get the benefit of the scheme. Apart from this, those who take voluntary retirement (VRS) will also not be benefitted.

Significantly, a person can take advantage of this scheme only once.