Rs. 3,000 monthly pension for workers & traders

Unorganised sector
Rs. 3,000 monthly pension for workers & traders

NASHIK: The Pradhan Mantri Shram Yogi Maandhan Yojana is being implemented by the Life Insurance Corporation of India under the Ministry of Labour and Employment for the workers, traders and other sections from the unorganised sector under the planning of the Government of India.

Anil Kumar Pritam, Regional Provident Fund Commissioner, announced that a pension of Rs 3,000 per month will be given under the Pradhan Mantri Shram Yogi Maandhan Yojana.

The age limit for becoming an eligible member of this scheme is 18 to 40 years. A person with a monthly income of less than Rs 15,000 and an annual turnover of less than Rs 1.5 crore can join the scheme.

A person working in the organised sector and a member of the provident fund, a member of the National Pension Scheme or a member of the State Employees Insurance Scheme and a person who pays income tax will not be able to avail the benefit of this scheme.

The government will pay the same instalment equivalent to the members’ contribution in the scheme. Members will have to pay a subscription of Rs 55 to Rs 200 per month depending on their age. This amount will have to be paid to the Life Insurance Corporation of India.

This subscription will be a voluntary contribution. In this scheme, the member will be able to get a pension of Rs. 3000 per month after the age of 60 years.

Interested persons need Aadhar Card, Savings or Jan Dhan Account Book and mobile number to register under the scheme. Interested persons need to submit their documents to the nearest common service center -- Aaple Sarkar Kendra for registration.

In this plan, the first month subscription premium will have to be paid in cash and thereafter it will be credited from your account every month.

The PF Commissioner has appealed to all the unorganised workers and professionals to avail the benefits of this scheme, even though registration facility has also been arranged under this scheme at the Provident Fund Office, Nashik.

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