Along with the measures introduced underneath PM CARES for Kids — Empowerment of Covid affected youngsters — the federal government has introduced additional measures to assist households who’ve misplaced the incomes member resulting from Covid. As a part of measures, the federal government will present pension to households of those that died resulting from Covid and an enhanced and liberalised insurance coverage compensation.
The Prime Minister mentioned that authorities stands in solidarity with their households. He additionally mentioned that by way of these schemes, efforts are being made to mitigate monetary difficulties that could be confronted by them.
Household Pension underneath Workers State Insurance coverage Company (ESIC)
To assist household dwell a lifetime of dignity and keep a superb lifestyle, good thing about ESIC pension scheme for employment associated demise circumstances is being prolonged to even those that have died resulting from Covid.
Dependent relations of such individuals will likely be entitled to the good thing about pension equal to 90% of common every day wage drawn by the employee as per the prevailing norms.
This profit will likely be accessible retrospectively with impact from 24.03.2020 and for all such circumstances until 24.03.2022.
Workers Provident Fund Group — Workers’ Deposit Linked Insurance coverage Scheme (EDLI)
- The insurance coverage advantages underneath the EDLI scheme have been enhanced and liberalized. Other than all different beneficiaries, this can particularly assist the households of workers who’ve misplaced their lives resulting from COVID.
- Quantity of most insurance coverage profit has been elevated from Rs 6 lakh to Rs 7 lakh.
- The availability of minimal insurance coverage good thing about Rs 2.5 lakh has been restored and can apply retrospectively from February 15, 2020 for the following three years.
- To profit households of contractual/ informal staff, the situation of steady employment in just one institution has been liberalized, with profit being made accessible to households of even these workers who might have modified jobs within the final 12 months previous his demise.
- Detailed pointers of those schemes are being issued by the Ministry of Labour and Employment.