The Indian government announced a series of measures on Saturday. It includes a fund for dependents of people who died due to Covid-19. Also additional assistance for families that lost earning members to the pandemic. Insurance benefits under the employees’ deposit-link insurance plan are liberalized, in addition to family pensions.
Prime Minister Narendra Modi stated that these measures will assist these families in alleviating their financial challenges. Modi stated that his administration stands with these families.
What is the new fund for Covid-19?
The benefit of the Employee State Insurance Corporation (ESIC) pension plan for deaths by employment. It is extended to individuals who have died owing to Covid, according to the PMO in a statement.
Dependent family members of such individuals will be getting a pension equal to 90% of the worker’s average daily pay, as determined under current regulations. This benefit will be accessible retroactively beginning March 24 of last year and continuing through March 24, 2022.
According to the PMO, the increased insurance payouts under the EDLI programs would benefit the families of employees who have died as a result of the epidemic. The maximum insurance benefit is Rs 7 lakh. It will apply retroactively for the following three years beginning February 15, 2020.
The criterion of continuous employment in just one business is easier to assist families of contractual and casual workers.
“Family Pension under ESIC and EPFO- Employees’ Deposit Linked Insurance Scheme would offer a financial cushion to those families who have lost an earning member owing to COVID-19,” Modi wrote in a tweet. The Indian government expresses its solidarity with these families.”
Smriti Irani said PM Modi’s declaration of a series of welfare measures for children whose parents died due to Covid-19. On the occasion of the government’s second anniversary in its second term. PM Modi made promises that included assuring a corpus of Rs 10 lakh for youngsters when they reach 18.
The BJP has planned a large-scale outreach effort that would include Covid-relief initiatives in communities along the Line of Control (LoC) in Jammu and Kashmir. Also in other rural villages across the nation.