ESIC has extended its ‘Atal Bimit Vyakti Kalyan Yojana’ (ABVKY) for a full year. Now the benefits of this scheme can be availed till 30 June 2027. Earlier the last date of this scheme was fixed as 30 June 2026. This decision was approved in the 198th ESIC meeting held under the chairmanship of Union Labor and Employment Minister Mansukh Mandaviya. Let us understand who will get the benefit and who can claim unemployment allowance.
Who will get the real benefit of this financial relief?
Atal Bimit Vyakti Kalyan Yojana is not a common scheme, rather it acts as a shield for the employees in times of crisis. Its direct benefit will be available to those employees who are covered under the Employees’ State Insurance (ESI) Act. That is, if ESI money is deducted from your salary and you are an insured employee, then you are entitled to it.
After losing your job, ESIC gives you temporary financial assistance (unemployment allowance) until you look for another job. However, to claim this money, the employee has to fulfill all the conditions and rules set by ESIC. Employees who meet these standards can easily claim their unemployment allowance.
How is ESIC’s unemployment allowance different from EPFO?
Often employed people consider the benefits of EPFO and ESIC to be the same, whereas the roles of both are completely different. The main objective of EPFO is to manage the retirement savings, provident fund (PF) and pension (EPS) of the employees. Under EPFO, no unemployment allowance is given on loss of job.
In contrast, the main function of ESIC is to provide health security and social security to organized sector employees. Under this, insured employees are given free treatment, sick leave money, maternity benefit, disability benefit and unemployment allowance under ‘Atal Bimit Vyakti Kalyan Yojana’. It is clear that this financial assistance is provided exclusively by ESIC.
Major decisions were also taken regarding health facilities
Along with increasing the period of unemployment allowance, emphasis was also laid on improving the health facilities of the employees in this high level meeting. ESIC has decided that it will directly manage all the ESIC hospitals to be built in future. Apart from this, an important agreement (MoU) has been signed with the Ministry of AYUSH to provide the benefits of traditional medicine to the patients, under which AYUSH services will also be available in ESIC hospitals.
It has also been announced to open five new sub-regional offices to bring more transparency in the system and increase the reach of services. With the aim of promoting medical education, a new medical college will also be established in Haridwar and a new dental college in New Delhi. Additionally, the Employees’ State Insurance (General) Rules, 2026 under the Social Security Code 2020 have also been formally approved.
Leave a Reply