Employment related Issues

Economic Affairs

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

Consider the following statements regarding Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme

It is a Central Sector Scheme administered by the Ministry of Labour and Employment.
An Unorganised Worker (UW) between 18 and 60 years of age is eligible for the PM-SYM scheme.
An Organised Worker (UW) whose monthly Income Rs 15000 or below is also eligible for the PM-SYM scheme.

Select the correct statement.

2 only

2&3 only

1&2 only

1 only

Only statement 1st is correct.

According to the Ministry of Labour & Employment, nearly 46 lakh Unorganised Workers (UW) have been registered under the Pradhan Mantri Shram Yogi Maandhan (PM-SYM) pension scheme.
PM-SYM is a Central Sector Scheme administered by the Ministry of Labour and Employment and implemented through Life Insurance Corporation of India and Community Service Centers (CSCs).
LIC (Life Insurance Corporation) is the Pension Fund Manager and responsible for Pension pay out.

Eligibility

Should be an Unorganised Worker (UW).
Monthly Income Rs 15000 or below.
Entry age between 18 and 40 years.
Should possess a mobile phone, savings bank account and Aadhaar number.
Should not be covered under New Pension Scheme (NPS), Employees’ State Insurance Corporation (ESIC) scheme or Employees’ Provident Fund Organisation (EPFO).
Should not be an income tax payer.

Hence option 4th is correct.

By: Shubham Tiwari