Pradhan Mantri Shram Yogi Maan-dhan: Here in this post we’ll know all about Pradhan Mantri Shram Yogi Maan-dhan is a new scheme launched by the Ministry of Labour & Employment. In the inter budget of 2019 by Piyush Goel. Below is the detailed information about Pradhan Mantri Shram Yogi Maan-dhan.
Stepwise Step Understandable procedure to avail this scheme:
The scheme is meant for old age protection and social security of Unorganised Workers (UW) who are mostly engaged as rickshaw pullers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washermen, home-based workers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio-visual workers or in similar other occupations.
- Should be an unorganized worker (UW)
- Entry age between 18 and 40 years.
- Monthly Income Rs 15000 or below.
Requirements of Pradhan Mantri Shram Yogi Maan-dhan?
- Aadhar card
- Bank Account saving or Jan Dhan account number with IFSC code
- If he/ she exits the scheme within a period of fewer than 10 years, the beneficiary’s share of contribution only will be returned to him with savings bank interest rate.
- If the user of this scheme exits after a period of 10 years from the joined date or more but before 60 years of age, the beneficiary’s share of contribution along with accumulated interest as actually earned by the fund or at the savings bank interest rate whichever is higher will be credited to the user from LIC.
- If a user has given regular contributions on time and died due to any cause ( sickness, accidental death or any other cause )
- If a beneficiary has given regular contributions and become permanently disabled due to any cause before 60 years, and unable to continue under the scheme, his/ her spouse will be entitled to continue the scheme subsequently by payment of regular contribution or exit the scheme by receiving the beneficiary’sPradhan Mantri Shram Yogi Maan-dhan contribution with interest.
- After the death of the subscriber as well as his/her spouse, the entire corpus will be credited back to the fund.
- Default in Pradhan Mantri Shram Yogi Maan-dhan: If a user/scheme holder has not paid the contribution continuously, the user will be allowed to regularize his/her contribution by paying total outstanding amount, along with penalty fees, decided by the Government of India.
- Pension Payout: Once the beneficiary joins the scheme at the entry age of 18-40 years, the beneficiary has to contribute till 60 years of age. On attaining the age of 60 years, the subscriber will receive by DBT the assured monthly pension of Rs.3000/- with the benefit of a family pension, as the case may be.
Helpline for Grievances
24*7 helpline number is 1800 2676 888
Enrolment Procedure: The Unorganised Worker will be required to visit the nearest Common
Services Centre (CSC) and get enrolled for PM-SYM using Aadhaar Card and Savings bank/ Jan-Dhan account number on a self-certification basis. First subscription to be paid in cash and auto debit from next month onwards.
Then, the facility will be provided where the UW can also visit the PM-SYM website or can download the mobile app from play store or app store and self-register using Aadhar number/ savings bank account/ Jan-Dhan account number on a self-certification basis.
Facilitation Centres: All the Labour offices of State and Central Governments, all the branch offices of LIC, the offices of ESIC/EPFO will act as Facilitation Centres to give full information to the Unorganised Workers (UW) about the Scheme, its benefits and the procedure to be followed, at their facilitation desks/ help desks.
Pradhan Mantri Shram Yogi Maan-dhan Scheme Fund Management: PM-SYM will be a Central Sector Scheme administered by the Ministry of Labour and Employment and implemented through LIC (Life Insurance Corporation of India) and CSC e-Governance Services India Limited (CSC SPV). LIC (Life Insurance Corporation of India) will be the Pension Fund Manager and responsible for Pension playout
Exit and Withdrawal: Considering the hardships and erratic nature of employability of unorganized workers (UW), the exit provisions of the scheme have been kept flexible.
What is Pradhan Mantri Shram Yogi Maan-dhan?
The Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM) is a voluntary and Contributory Pension Scheme for Unorganized Workers for entry age of 18 years to 40 years of age with a monthly income of Rs.15000 or less than 15000 Indian rupees. And yes, of course, this is a Govt. scheme.
Who can get the benefits of Pradhan Mantri Shram Yogi Maan-dhan?
Any unorganized worker in the age group of 18-40 years,whose job is casual in nature , such as home-based workers,street vendors, head loaders, brick kiln, cobblers, rag pickers,domestic workers, washer-men, Rickshaw Pullers, Rurallandless labourers, own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, etc. with monthly income less than 15,000/-. The user of this scheme should not be covered under any statutory social security schemes such as EPFO, Employees’ State Insurance Corporation scheme, National Pension Scheme (NPS), and also is not an income tax payee.
What are the Benefits of Scheme?
If any unorganized worker subscribes the scheme and has paid regular contribution up to the age of 60 years, he will get a minimum monthly pension of Rs. 3000/-. After his/ her 14/2/2019 Page 2 of 14 death, the spouse will receive a monthly family pension which is 50 % of the pension.
How many years the beneficiary will contribute?
Once the beneficiary joins the scheme at the entry age between 18-40 years, he has to contribute until he/she attains the age 60 years.
How much pension would be received under the Scheme? At what age?
Under the Scheme, the minimum pension is of Rs. 3000/- per month shall be paid. This pension will start on attaining the age of 60 years of the subscriber.
What will be the procedure for joining this scheme?
The user may visit the nearest CSC (Common Service Centre) and get enrolled for PM-SYM using Aadhar number and savings bank account/Jan-Dhan account number on a self-certification basis. The branch Offices of LIC, offices of EPFO/ESIC will also facilitate the subscribers about the scheme, its benefits and the procedure to be followed, for enrollment. They will also advise them on locating the nearest CSC.
Whether I have to give proof of my date of birth and income?
No any other separate proof of age or of the income has to be given. Self-attested/Certification and providing of the Aadhaar number will be the basis for enrollment. However, in case of any false declaration, may attract an appropriate penalty on the user or the subscriber.
Whether family pension is there?
Yes, there is a provision of the family pension under the scheme. It is applicable only to the spouse of the subscriber. If the subscriber dies, after the pension has commenced, the spouse of the beneficiary shall be entitled to receive 50 % off the pension.
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