Employees’ State Insurance Corporation notifies its decision to extend Atal Beemit Vyakti Kalyan Yojana for a period 01.07.2022 to 30.06.2024
Contents News/Article Date: 1st September 2023
Relating to which Act: The Employees’ State Insurance (ESI) Act, 1948
Penalty under the Act: Section 85(a): Penalty for failure to pay contribution
Non-payment of this contribution is a serious offense because it directly affects insurable employees. Hence, the maximum imprisonment for this offense is 3 years and the minimum is 6 months with Rs. 5,000 as fine.
Applicable to which State: All the States and Establishments covered by the ESI Act
Type: ESIC Circular No. N 12011 / 01 / 2023 / P & D / dated 1st September 2023 issued by Insurance Commissioner P & D
Pertains to: Insured employees and employers
Relevance of this news: Karma Global is in the business of HR Services, Payroll, Outsourcing and Regulatory Compliances right from its inception in 2004 and since then, has brought in a lot of efficiencies and technological upgradations with experts on its roll, to ease the hassles of Payroll Processing, Temp Staffing, On-boarding, Employee Life Cycle, Statutory, Regulatory and Payroll compliances by providing customized solutions to all its elite clients.
Karma Global does excellent work on providing ESI Services both to establishments as well as Insured Employees and in this respect, it will inform all its clients and insured employees about the many announcements that the Government has made in terms of expansion of ESI Scheme, so as to make it available in the remotest of places viz. 778 districts and also to make health facilities and medical colleges in progressive districts of our country further expanding post graduate medical seats.
And in this instance:
About the Yojana:
Atal Bimit Vyakti Kalyan Yojana was introduced w.e.f. 1 July 2018. Under it, unemployment benefit is paid to the workers covered under the Employees’ State Insurance (ESI) scheme. Unemployment benefit is paid in the form of cash compensation upto 90 days, once in a lifetime, to be claimed after three months (90 days) in one or more spells for being rendered unemployed.
The employee should have completed two years of insurable employment and has contributed not less than 78 days in each of the four consecutive contribution periods immediately preceding to the claim of the relief.
Now, therefore in exercise of the powers conferred upon it under sub-section (1) of section 97 of the Employees’ State Insurance Act 1948 (34 of 1948), the Employees’ State Insurance Corporation hereby notifies its decision to extend Atal Beemit Vyakti Kalyan Yojana for a period 01.07.2022 to 30.06.2024 with enhanced rate of relief and relaxed eligibility conditions as notified in the Gazette of India, (Extraordinary).
Subject: Employees’ State Insurance Corporation notifies its decision to extend Atal Beemit Vyakti Kalyan Yojana for a period 01.07.2022 to 30.06.2024
Attached is the notification