eShram Card: The Pradhan Mantri Shram Yogi Maandhan Yojana / e Shram Card is a government initiative designed to provide social security and old-age protection to workers in the unorganized sector.
The Pradhan Mantri Shram Yogi Maandhan Yojana (PM SYM) is a pension scheme specifically targeted at unorganized workers. It is a voluntary and contributory scheme that allows workers between the ages of 18 and 40, with a monthly income of Rs.15000 or less, to participate.
What is Pradhan Mantri Shram Yogi Maandhan Pension Yojana (eShram Card)?
The scheme Pradhan Mantri Shram Yogi Maandhan Yojana is a tribute to the hardworking individuals in the Unorganized Sectors who contribute approximately 50 percent of the nation’s Gross Domestic Product (GDP).
The PM SYM is an optional(voluntary) and participatory pension scheme where the recipient is entitled to receive a guaranteed minimum pension of Rs 3000 per month upon reaching the age of 60.
Applicants within the age range of 18 to 40 years are required to make monthly contributions(Submit a monthly amount) ranging from Rs. 55 to Rs. 200 until they reach the age of 60 Years. Once they turn 60 Years old, they can claim their pension amount.
The pension amount is a fixed monthly sum that is deposited into the pension account specified by the individual during the registration process for the eShram Card(PMSYM Pension Yojana).
Upon reaching the maturity of the scheme, individuals will be eligible to receive a monthly pension of Rs. 3000. This pension amount serves as a financial support to meet their various needs.
In the event of the beneficiary’s demise, the spouse will be eligible to receive 50% of the pension as a family pension.
It’s important to note that the family pension is only applicable to the spouse (Wife or Husband).
Pradhan Mantri Shram Yogi Maandhan Yojana (eShram Card): Who are Unorganized Workers?