The Government of India has announced plans to provide pensions to families affected by the COVID-19 epidemic.The scheme is said to operate under the Employees’ State Insurance Scheme and the Employees Provident Fund Scheme.
1.Family Pension under Employees State Insurance Corporation (ESIC)
*In order to support the families of the victims, the benefit of the Employees State Insurance Corporation (ESIC) pension scheme for employment-related death cases is extended to those who have died due to COVID-19
*Family members are entitled to pension benefits equal to 90% of the average daily wage.
*The scheme will be implemented for all cases from March 24, 2020 to March 24, 2022.
2.Employee Deposit-Linked Insurance Plan:
*Insurance benefits are being upgraded and liberalized under the Employee Deposit-Linked Insurance (EDLI) scheme.
*The maximum amount of insurance has been increased from Rs 6 lakh to Rs 7 lakh and the minimum insurance premium has been maintained at Rs 2.5 lakh.
*It will be reviewed for the next 3 years (2023) from 15 February 2020.
*In order to benefit the families of contract and ordinary workers, the continuous employment status in a single company has been liberalized, benefiting even the families of those employees who may have changed jobs in the last 12 months prior to his death.
*The Ministry of Labor estimates that eligible family members will receive an additional benefit of Rs 2185 crore from the EDLI fund in the years 2021-22 to 2023-24.