Government Extends Atal Beemit Vyakti Kalyan Yojana to Provide Unemployment Support Until June 2024

The government has announced its decision to grant a two-year extension to the Atal Beemit Vyakti Kalyan Yojana, the unemployment scheme managed by the Employees’ State Insurance Corporation (ESIC). This extension, taking the scheme’s validity until June 30, 2024, marks its third continuation since its inception on a pilot basis in 2018. The scheme, initially designed to run for two years, has witnessed prior extensions in 2020 and 2021 due to the unprecedented impact of the Covid outbreak and subsequent lockdown measures.

The primary purpose of these extensions is to sustain the provision of crucial financial support to ESIC beneficiaries who have experienced job losses during these challenging times. The Atal Beemit Vyakti Kalyan Yojana serves as a vital welfare initiative for employees covered under Section 2(9) of the ESI Act, 1948, offering them relief payments for up to 90 days in the event of unemployment, albeit limited to a one-time benefit.

Eligible beneficiaries under the scheme receive relief amounting to 50% of their average per day earnings from the preceding four contribution periods. This calculation is derived by dividing the total earning during those four periods by 730. To qualify for the benefits of ABVKY, insured individuals must meet specific criteria:

  1. The individual should have been in insurable employment for a minimum of two years prior to their unemployment.
  2. They must have contributed for at least 78 days during the contribution period immediately preceding their unemployment and a minimum of 78 days in at least one of the remaining three contribution periods within the two years preceding their unemployment.

Individuals who meet these eligibility criteria and seek benefits from the Atal Beemit Vyakti Kalyan Yojana can apply by submitting relevant documents, including the ESI card or appropriate paperwork from their employing company. The scheme has become an essential lifeline for those facing unemployment, providing them with much-needed financial assistance during challenging times.

The guidance and administration of the Employees’ State Insurance Corporation, including the Atal Beemit Vyakti Kalyan Yojana, are under the leadership of Director General Rajendra Kumar.