This Scheme was announced on February 2019 by the Central Government, and was launched on 15 February 2019 by the finance minister Piyush Goyal. Plans like LIC, ESIC, EPFO comes under this scheme. In this article you will read all the information related to Pradhan Matri Shram Yogi Yojana, such has its eligibility criteria, its benefits and how to apply for PMSYM (Pradhan Matri Shram Yogi Yojana).
PMSYM Eligibility:
- Only unorganized workers are eligible for this scheme.
Unorganized means workers who are mostly engaged in home based workers, like mid-day meal, street vendors, head loaders, cobblers, brick kiln workers, rag pickers, washer men, domestic workers, landless labors, rickshaw pullers, agricultural workers, own account workers, beedi workers, construction workers, handloom workers, audio-visual workers, leather workers and many more. - Monthly income is 15,000/- per month or less.
- Age should be between 18-40 years.
- They are not cover or enrolled in other scheme like Employees’ State Insurance Corporation (ESIC) scheme, New Pension Scheme (NPS), Employees’ Provident Fund Organisation (EPFO)
- Shouldn’t be an income tax payer.
Benefits of PMSYM:
- Minimum Pension Assured: Under PMSYM, each subscriber will receive minimum pension of INR 3000/- per month after attaining the age of 60
- Family Pension: If the subscriber dies during the receipts pension, then the spouse of the beneficiary will receive 50% of pension received by the beneficiary as family pension (Applicable only to Spouse).
- If a subscriber who has given regular contribution to the PMSYM dies before the age of 60, then his/her spouse will be entitled to join the scheme and continue it or he/she can exit the scheme as per the provisions of exit and withdrawal.
Contribution to PMSYM
Subscriber Contribution: The Subscriber contribute to PMSYM will be auto debit form there saving bank account or Jan-Dhan Account. All the subscriber are required to contribute the prescribed amount as shown in the chart below from the day of joining PMSYM till the age of 60 years.
Entry Age | Superannuation Age | Member’s monthly contribution (Rs) | Central Govt’s monthly contribution (Rs) | Total monthly contribution (Rs) |
(1) | (2) | (3) | (4) | (5)= (3)+(4) |
18 | 60 | 55 | 55 | 110 |
19 | 60 | 58 | 58 | 116 |
20 | 60 | 61 | 61 | 122 |
21 | 60 | 64 | 64 | 128 |
22 | 60 | 68 | 68 | 136 |
23 | 60 | 72 | 72 | 144 |
24 | 60 | 76 | 76 | 152 |
25 | 60 | 80 | 80 | 160 |
26 | 60 | 85 | 85 | 170 |
27 | 60 | 90 | 90 | 180 |
28 | 60 | 95 | 95 | 190 |
29 | 60 | 100 | 100 | 200 |
30 | 60 | 105 | 105 | 210 |
31 | 60 | 110 | 110 | 220 |
32 | 60 | 120 | 120 | 240 |
33 | 60 | 130 | 130 | 260 |
34 | 60 | 140 | 140 | 280 |
35 | 60 | 150 | 150 | 300 |
36 | 60 | 160 | 160 | 320 |
37 | 60 | 170 | 170 | 340 |
38 | 60 | 180 | 180 | 360 |
39 | 60 | 190 | 190 | 380 |
40 | 60 | 200 | 200 | 400 |
Central Government Contribution: The PM-SYM pension scheme is on a 50:50 basis like subscriber’s contribution and central government contribution but from specific age. For example if you join the scheme at the age of 29 years, than you’re required to deposit Rs 100/per month till the age of 60 years and the equal amount will be contributed the Central Government.
Requirements for PM-SYM Pension Scheme
The subscriber’s are required to have:-
- Mobile number
- Saving Account
- Aadhaar Card
- Asked Certificate and Documents (for conformation of date of birth ).
Registration process for PM-SYM PENSION SCHEME /How to apply for PM-SYM Pension Scheme through Common Service Centre (CSC)
The subscriber need to follow the given below steps for PY-SYM Pension scheme registration:-
- The subscriber must have mobile number, savings account, aadhaar card and necessary documents .
- The applicant needs to visit the Common Service Centre (CSC) with all the required documents.
- The CSC (Common Service Centre) operator will do the registration based on all the details and information provided by the applicant.
- The calculation is done on the basis of age and how much premium subscriber needs to contribute depends on the actual date of birth, so the subscriber needs to register actual date of birth.
- All the required documents will be verified and candidate needs to pay specific installment amount.
- The notification will be received after successful online payment and registration, along with unique Pension Code generated from the software.
- After completing registration process the CSC Officer will scan the required documents of the applicant to ensure that the information is saved into the database.
- After scanning and verifying documents, the applicant is provided Pension Card.
- The data and information given by the applicant is sent to the bank authorities for future process.
- The applicant information and documents are checked by the bank authorities and the candidate is informed about the mandate debits.
- An SMS is sent to the required mobile number and after which the applicant would be getting the pertinent information and updates.
Apply Online for PM-SYM PENSION SCHEME/ ONLINE REGISTRATION PROCESS FOR PM-SYM
- Visit to the official website maandhan.in
- Page will open with three options. Click on “Pradhan Mantri Shram Yogi Maandhan Yojana”.
- Then scroll down and tap on “Click Here to Apply”.
- A new page will open with two options “self enrollment” and CSC VLE”. Click on “Self Enrollment” option.
- New dialog box will be open “Login using Mobile”, enter your mobile number and tap on “PROCEED”.
- Now enter Name, Email, Captcha and click on “GENERATE OTP”.
- Enter the received OTP correctly and click on “proceed” option.
- Now you will be login and dashboard will be open.
- Click on the Enrollment option which is right side on the top of the page.
- Pop-up menu will open with options. Click on “Pradhan Mantri Shram Yogi Maandhan Yojana”
- SELF ENROLLMENT (PRADHAN MANTRI SHRAM YOGI MAANDHAN) application form will be open.
- Fill the application form correctly and Submit it.
Note: Save your “SUBSCRIBER ID" for future use
Conclusion
Pradhan Mantri Shram Yogi Maandhaan Yojana Pension scheme was launched on 15th February 2019 and meant for social security of old age protection and unorganized workers from minimum age 18years to 40 years maximum. The minimum assured pension of rupees 3000 per month will be given after attaining the age of 60years. One should must apply for the scheme for attaining the benefits.
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