EPFO Social Security Notes

India’s social security schemes cover the following types of social

insurances:
 
● Pension

● Health Insurance and Medical Benefit

● Disability Benefit

● Maternity Benefit

● Gratuity

 
While a great deal of the Indian population is in the unorganized sector
and may not have an opportunity to participate in each of these
schemes, Indian citizens in the organized sector and their employers
are entitled to coverage under the above schemes.
There are two major social security plans in India, the Employees’
Provident Fund Organization (EPFO) and the Employees’ State
Insurance Corporation (ESIC). 
The EPFO runs a pension scheme and an insurance scheme. All of
these are supposed to grant EPFO members and their families benefits
for old age, disability, and support in case the primary breadwinner
dies.
The ESIC covers low-earning employees providing them with basic
healthcare and social security schemes. Originally aimed at factory
workers, the coverage was extended to include greater parts of the
population, e.g. employees in hospitals or educational institutions. The
ESI scheme has been implemented in all states excluding Manipur and
Arunachal Pradesh.
Social security schemes for unorganised sector:
In order to provide social security benefits to the workers in the
unorganised sector, the Government has enacted the Unorganised
Workers Social Security Act, 2008. Some of the welfare schemes for
unorganised workers stipulated under this act are:
1. The National Social Assistance Programme (NSAP), launched in
1995 is a Centrally Sponsored Scheme of the Government of India
that provides financial assistance to the elderly, widows and
persons with disabilities in the form of social pensions.
2. Janani Suraksha Yojana (JSY), launched in 2005, is a safe
motherhood intervention under the National Rural Health Mission
(NRHM) being implemented with the objective of reducing
maternal and neonatal mortality by promoting institutional delivery
among the poor pregnant women. 
3. Rajiv Gandhi Shilpi Swasthya Bima Yojana aims at financially
enabling the artisans’ community to access to the best healthcare
facilities in the country. This scheme covers not only the artisans
but his wife and two children also.
4. National Scheme of Welfare of Fishermen aims at providing
better living standards for fishermen and their families and social
security for active fishers and their dependants.
5. Aam Admi Bima Yojana, launched in 2013, is a social security
scheme aimed at unorganised sector workers aged between 18
and 59 years, which offers a cover of Rs 30,000. 
6. Rashtriya Swasthya Bima Yojana (RSBY), launched in 2008, aims
to provide health insurance coverage to the unrecognised sector
workers belonging to the BPL category and their family members.
It provides for inpatient medical care of up to ₹30,000 per family/
year in public as well as empaneled private hospitals.
Recently launched schemes
Atal Pension Yojna (APY) 
● Under the APY, subscribers would receive a fixed minimum pension

at the age of 60 years, depending on their contributions, which

itself would vary on the age of joining the APY.
 ● The Central Government would also co-contribute 50 percent of
the total contribution or Rs. 1000 per annum, whichever is lower,
for a period of 5 years, who are not members of any statutory
social security scheme and who are not Income Tax payers.
● The pension would also be available to the spouse on the death of

the subscriber and thereafter, the pension corpus would be

returned to the nominee.
● The minimum age of joining APY is 18 years and maximum age is

40 years.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY): 
● Under PMJJBY, life insurance of Rs. 2 lakh would be available on

the payment of premium of Rs. 330 per annum by the subscribers. 

● The PMJJBY will be made available to people in the age group of

18 to 50 years having a bank account from where the premium

would be collected through the facility of “auto-debit”. 
Pradhan Mantri Suraksha Bima Yojana (PMSBY): 
● Under PMSBY, the risk coverage will be Rs. 2 lakh for accidental

death and full disability and Rs. 1 lakh for partial disability on the
payment of premium of Rs. 12 per annum. 
● The Scheme will be available to people in the age group 18 to 70

years with a bank account, from where the premium would be

collected through the facility of “auto-debit”.
● Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Yojana: Under

the scheme, the government has promised a direct payment of Rs.

6000 in three equal instalments of Rs. 2000 each every four
months into the Aadhar bank accounts of eligible landholding Small
and Marginal Farmers (SMFs) families.
Pradhan Mantri Kisan Mandhan Yojana:
● Honourable Prime Minister Narendra Modi recently launched a

pension scheme for farmers from Ranchi, Jharkhand.

● Under the scheme, farmers between 18 and 40 years of age will
 ●

get Rs 3,000 monthly pension after reaching 60.

● The scheme has an outlay of Rs 10,774 crore for the next three

years.
● All small and marginal farmers (with less than 2 hectares) who

are currently between 18 to 40 years can apply for the

scheme.     
● Registration for the farmers’ pension scheme was started on

August 9,2019. 
● Life Insurance of India (LIC) has been appointed insurer for this

scheme.
● The farmers will have to make a monthly contribution of Rs

55-200, depending on the age of entry, in the pension fund till

they reach the retirement date.
● This is an optional scheme.

● The government started registrations for the Pradhan Mantri Kisan

Maan-Dhan Yojana (PM-KMY) on August 9,2019.

● The enrolment for the voluntary scheme is being done through the

Common Service Centres (CSCs) located across the country.

● No fee is charged for registration under the scheme.

● The Centre pays Rs 30 to CSC for every enrolment to ensure that

the scheme witnesses maximum coverage.

Pradhan Mantri Laghu Vyapari Mandhan Yojana, 2019:
● The new scheme that offers pension coverage to the trading

community was launched from Jharkhand.

● Under the scheme, all shopkeepers, retail traders and self-

employed persons are assured a minimum monthly pension of Rs.

3,000/- month after attaining the age of 60 years. 
● All small shopkeepers and self-employed persons as well as the

retail traders with GST turnover below Rs. 1.5 crore and age
between 18-40 years, can enrol for this scheme. 
● The scheme would benefit more than 3 crore small shopkeepers
 ●

and traders.
● The scheme is based on self-declaration as no documents are
required except Aadhaar and bank account. 
● Interested persons can enrol through CSCs across the country. 
● To be eligible, the applicants should not be covered under the
National Pension Scheme, Employees’ State Insurance Scheme
and the Employees’ Provident Fund or be an Income Tax
assessee.
● The Central Government will make matching contribution(same
amount as subscriber contribution) i.e. equal amount as subsidy
into subscriber’s pension account every month.
● Five crore traders are expected to join the scheme in the next three
years.

Why are they needed?

With about 22 percent of India’s population living below the poverty
line, the “unorganized” sector, i.e. enterprises mainly in agriculture,
which are not legally covered by any form of social security, is
disproportionately large.

Source: World Social Protection Report 2017–19, International Labour

Organisation.

The social security schemes for the unorganised sector, in addition to

enhancing labour-market efficiency and providing income security to
the poor and vulnerable, also address multiple facets of poverty by
building resilience against socio economic crises and shocks, e.g.
health hazards, disability, unemployment and old age. 
According to the World Bank (2015), social safety nets reduce the
poverty gap by 15 percent and the poverty headcount rate by eight
percent. As highlighted by the International Labour Organisation (ILO)
and the G20 forum, social-protection systems act as self-regulating
economic stabilisers, boost employability and fortify aggregate
domestic demand, thus facilitating the transition into a more
formalised economy.

Free G.S Classes by A.S Pandit(UPSC Topper)

History Classes till date( SHARE )
Class 1: https://youtu.be/za3UPiIePec
Class 2: https://youtu.be/JlAwzs8hEGk
Class 3: https://youtu.be/xZH5qVF6MFM
Class 4: https://youtu.be/lzeG8nTQC2o
Class 5: https://youtu.be/QGo-MIMpfKE
Class 6: https://youtu.be/1HDrGkHD_r0
Class 7: https://youtu.be/AVVq98XBlac
Class 8: https://youtu.be/ik6jEcaNOUM
Class 9: https://youtu.be/BHBMCXne7pY
Class 10: https://youtu.be/A_Cd9i9rkeI
Class 11: https://youtu.be/5JS7IN_Rw6k
Class 12: https://youtu.be/J7HZ4epk_bI
Class 13: https://youtu.be/CSD50T8cRgQ
Class 14: https://youtu.be/Khi9CcXyTdQ
Class 15: https://youtu.be/O78BGhz9W9Y
POLITY CLASSES:
Class 1: https://youtu.be/iTHpLpAgNSA
Class 2: https://youtu.be/AppuucuqE9Q
Class 3: https://youtu.be/6sHSwpKZqRg
Class 4: https://youtu.be/WQsIiogEcug
Class 5: https://youtu.be/a4eoT9erbRU
Class 6: https://youtu.be/dsfxxOkngRI
Class 7:https://youtu.be/Yevzg82OrJI
GEOGRAPHY CLASSES
Class 1: https://youtu.be/qMMecz5PYd4
Class 2: https://youtu.be/m7Eg6R2RROg