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Pradhan Mantri Shram Yogi Maan-dhan, 2019.....Scheme to provide for old age protection to the unorganised workers notified in egazette vide Notification No.S.O. 764(E). dated 07-02-2019. Scheme shall come into force on 15-02-2019
Scheme is notified under powers conferred section 3(1)(c) of section 3 of the Unorganised Workers’ Social Security Act, 2008 . Congress Govt was so busy scamming that they never notified any pension scheme for 6 years after passing the Act in 2008
Congress is truly "Aham DhaporShankham, vadami cha, dadami na" ..#MahaJumlaParty ...Announce everything, give/implement nothing. Now we come back to the pension scheme itself
“unorganised sector” means an enterprise owned by individuals or self-employed workers and engaged in the production or sale of goods or providing service, and (if employing workers) employing less than 10 workers [Section 2(l) of the 2008 Act]
“unorganised worker” means a home-based worker, self-employed worker or a wage worker in the unorganised sector & includes a worker in the organised sector who is not covered by Workmen's Compensation Act, Industrial Disputes Act, ESI, EPF, Maternity Benefit Act and Gratuity Act
The unorganised workers have option to become the members of the Scheme, on and from the 15-02-2019.
Scheme shall apply to home based workers,street vendors,mid-day meal workers,head loaders,brick kiln workers,cobblers,rag pickers,domestic workers,washer men,rickshaw pullers, landless labourers, ++
++own account workers, agricultural workers, construction workers, beedi workers, handloom workers, leather workers, audio- visual workers and similar other occupations.
Scheme only to the unorganised worker for joining, whose monthly income is not exceeding 15000 rupees & who has a savings bank a/c in his name & Aadhar number. Age limit-18 to 40
The unorganised worker shall not be eligible to join the Scheme,
if he is covered under NPS contributed by the Central Government or ESI or EPF or he is an income-tax assessee.
The eligible subscriber, who joins the Scheme, shall subscribe to the Pension Fund as specified in the contribution chart appended to the Scheme.
The Central Government shall also contribute to the Pension Fund the equal amount as contributed by an eligible subscriber.
If any doubt arises as to whether any worker is entitled to join this Scheme or any difficulty arises in implementation, then,- doubt to be clarified by the Jt Secry and DG Labour Welfare, GOI , New Delhi, whose clarification shall be conclusive; ++
++and difficulty to be referred to Central Govt Government, whose clarification thereon shall be conclusive.
Where an eligible subscriber makes a default in contribution,he shall be allowed to regularise his contribution by paying his entire outstanding dues, along with interest of the rate as determined by GOI
Each eligible subscriber shall receive assured minimum monthly pension of 3000 after attaining the age of 60.

Once the eligible subscriber joins this Scheme at the entry age between 18 to 40 years, he has to contribute till attaining the age of 60 ++
++ and on attaining age of 60, he subscriber shall be entitled to get the assured minimum monthly pension of 3000 with benefit of family pension specified in paragraph 9, as the case may be.
Now people will say "10 saal ya 20 saal ke baad 3000 se kya hoga?" Please note the wordings. It is not a fixed amount pension of 3000 pm that is guaranteed. What is guaranteed is "assured minimum monthly pension of three thousand rupees". ++
It means Rs.3000 pm pension assured at all events and if the Scheme's investments get higher returns and appreciation, then Scheme may decide to pay higher amount also.
For example, if Schemes investments/fund do really well and can afford to pay Rs. 5000 per month, then they will pay that . But in no case, pension will be below 3000 per month
Secondly, if wife of subscriber is also unorganised sector worker she can be made a subscriber. And moreover, no one stops an unorganised sector worker from enrolling himself and his wife in Atal Pension Yojana for Rs.5000 each
Thus, by intelligently using this Scheme and APY, an unorganised sector worker can assure himself of minimum Rs.13000 pm to Rs.16000 pm pension at age 60
During the receipt of pension, if an eligible subscriber dies, his spouse shall be only entitled to receive 50% of the pension received by such eligible subscriber, as family pension and such family pension shall be applicable only to the spouse.[Para 9]
If an eligible subscriber has given regular contributions and become permanently disabled due to any cause before attaining age of 60, & is unable to continue , his spouse shall be entitled to continue by payment of regular contribution as applicable or ++
++exit the Scheme by receiving the share of contribution deposited by such subscriber, with interest as actually earned thereon by the Pension Fund or the interest at the savings bank interest rate thereon, whichever is higher.
In case an eligible subscriber exits within a period of less than 10 years from the
date of joining, then only his contribution will be returned to him with savings bank rate of interest
if subscriber exits after completion of 10 years or more from the date of joining but before age of 60,his contribution only shall be returned to him with accumulated interest actually earned by Pension Fund or interest at SB int rate, whichever is higher
Full egazette notification with contribution chart
You can easily download for free egazette notifications ..thanks to Modi Govt replacing printed Gazette with e-Gazette in 2015
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