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Opportunities for the Unemployed💼❌
Key insights that everyone should be aware of ✅
Did you know that in India, an unemployment allowance is given to workers who have contributed to the Employees’ State Insurance for at least three years?
In the dynamic landscape of India's employment scenario, unexpected career disruptions can bring about financial challenges. At JJ Tax, we understand the importance of a safety net during such times, which is why we're here to guide you through the realm of Unemployment Benefits and Eligibility in India.
In this comprehensive newsletter, we'll navigate the intricate pathways of government support, shedding light on the eligibility criteria and providing insights to help you make informed decisions. Join us on this informative journey as we empower you with knowledge to secure your financial well-being.
Government Initiatives for Employment Generation
The Ministry of Labour & Employment, Government of India, spearheads an array of schemes and benefits for unemployed citizens. From the Employment & Unemployment Scheme to self-employment promotion, these initiatives encompass diverse avenues for financial aid.
Notable schemes include:
● Pradhan Mantri Mudra Yojana (PMMY): This scheme Offers collateral-free loans up to Rs. 10 lakh for small/micro businesses and individuals to foster entrepreneurship.
● Pradhan Mantri Rojgar Protsahan Yojana: This Scheme aims to incentivise employers for employment generation by the Government paying the full employers' EPS contribution, for the new employees, for the first three years of their employment.
● Skill India Mission: Imparting skill development to millions through Short Term Training and Recognition of Prior Learning to empower the youth of the country.
● Pradhan Mantri Garib Kalyan Yojana (PMGKY): Through this scheme, the govt. intended to use the deposited black money for welfare of the poor people. The scheme was valid from December 2016 to March 2017.
● PM SVANidhi: To provide handholding support to street vendors, Ministry launched this micro credit scheme, facilitating a working capital collateral free loan of ₹10,000, with subsequent loans of ₹20,000 and ₹50,000 with 7% interest subsidy.
● Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA): This scheme provided 100 days of guaranteed unskilled manual work in rural areas.
Unemployment Allowance across States in India
The amount of allowance varies for each state in India.
● Himachal Pradesh: Unemployment Allowance Scheme provides up to Rs. 1,500 for each unemployed youth.
● Karnataka: Yuva Nidhi Scheme offers Rs. 3,000 per month to Graduates and Rs. 1,500 per month to Diploma Holders.
Central Government Initiatives
● Employees’ State Insurance Corporation (ESIC): ESIC presents two unemployment benefits schemes – Rajiv Gandhi Shramik Kalyan Yojna (RGSKY) and Atal Beemit Vyakti Kalyan Yojna (ABVKY).
● These schemes offer an unemployment allowance equivalent to 50% of an insured worker’s daily average earnings. Eligible workers can receive this support for up to one year, provided they have contributed for at least 3 years.
How to Apply?
● Application processes for unemployment schemes and benefits in India vary by state.
● In Delhi, a dedicated job portal is available for applying to the unemployment allowance scheme.
● Andhra Pradesh offers an online application process for their unemployment allowance scheme.
Central Government Schemes
The Ministry of Labour & Employment, Government of India, oversees the Employment & Unemployment Scheme.
● Comprehensive scheme details and reports are accessible on the official ministry website.
● An application for the unemployment allowance can be accessed through the National Portal of India.
Enrollment through Common Services Centres:
● Schemes like Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) facilitate enrollment through Common Services Centres.
● Unorganized workers can visit their nearest CSC with Aadhaar Card and Savings Bank account passbook/Jandhan account for Scheme registration.
Documentation prerequisites for applying to unemployment schemes and benefits in India vary based on state and specific schemes. Here is a list of common documents that are mandatory.
● Aadhaar Number
● Mobile Linked with Aadhaar
● White Ration Card
● SSC/Graduation/P.G. certificates
There are also some central government schemes that provide unemployment benefits. For instance, applying for the PM Berojgari Bhatta scheme requires candidates to possess mandatory documents, including:
● Domicile Certificate
● Caste Certificate
● Income Certificate (income less than 3 lakh rupees per annum)
● Proof of Identity (POI)
● Proof of Address (POA)
● Aadhaar Card/PAN Card/Ration Card/Passport/Driving License, etc.
● Passport size Photograph
Our commitment as experts extends beyond mere numbers; we're here to empower you with the understanding needed to make informed decisions. Unemployment benefits form an integral part of this spectrum, providing a safety net when you need it most.
JJ Tax is not just about numbers on paper; we're about translating financial complexities into accessible information that empowers you. We're by your side, ensuring you have the knowledge to make confident decisions and secure your financial stability.
Stay informed. Stay empowered. Choose JJ Tax.