ESIC to pay 50% of 3 months’ average wages as Unemployment benefit

Published: August 21, 2020

In a recent notification, the Employees’ State Insurance Corporation declared to relax their norms, to aid the people who became jobless amid the COVID-19 outbreak with 50% of average wages of three months as unemployment benefit.

Highlights

  • The people who lost their job between March 24 and December 31 will get the benefit.
  • A total of 40 lakh workers across several sectors will get benefited.
  • It also relaxed the eligibility criteria and payment enhancement under the Atal Bimit Vyakti Kalyan Yojana.
  • The scheme will be extended to 30th June, next year.

What is ESIC?

Employees’ State Insurance Corporation is a Statutory Body of Labour and Employment, Government of India. It is responsible for managing the Employees’ State Insurance Fund, aimed at providing social security and health insurance for Indian workers.

What is the Atal Bimit Vyakti Kalyan Yojana?

Atal Bimit Vyakti Kalyan Yojana was launched by ESIC, which offers cash compensation of 25% of the average per day earned to insured persons when they are facing unemployment.

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