Unemployment Benefits: Eligible employees who lose their jobs can receive financial assistance under ESIC’s *Atal Beemit Vyakti Kalyan Yojana* (ABVKY). The government has extended the validity of this scheme until June 30, 2027.

ESIC ABVKY Scheme: If you have suddenly lost your job, a central government scheme can help you overcome this financial hardship instead of causing panic. The Employees' State Insurance Corporation (ESIC) has extended the *Atal Beemit Vyakti Kalyan Yojana* (ABVKY) until June 30, 2027. The primary objective of this scheme is to provide financial aid to eligible insured employees during periods of unemployment, enabling them to meet essential expenses even after losing their jobs.

Although the scheme was originally valid only until June 30, 2026, the government has now decided to extend it for another year. A key feature of this scheme is that you do not need to rely on your company to access this assistance; instead, you can apply directly through an ESIC branch to avail of the benefits.

What is ESIC?

ESIC is distinct from the EPFO.
It provides employees with facilities related to healthcare and social security.
It offers financial assistance for situations such as medical treatment, sickness, maternity, disability, and unemployment.
Major changes in the National Pension System (NPS): These employees stand to benefit and earn higher returns.

What are the benefits of ABVKY?

The *Atal Beemit Vyakti Kalyan Yojana* is designed for employees who have lost their jobs for any reason. To avail of the benefits of this scheme, it is mandatory to be registered with ESIC and to have worked in an insurable job for at least two years.

It provides a cash allowance equivalent to 50% of the average daily wage during the period of unemployment.
This assistance is provided for a maximum of 90 days.
Once the claim is approved, the entire amount is transferred directly to the beneficiary's bank account. You can avail the benefits of this scheme only once in your lifetime.

Who is not eligible for the benefit?

Those dismissed from service due to misconduct.
Employees who resigned voluntarily.
Those who opted for Voluntary Retirement (VRS).
Those who lost their job due to participation in an illegal strike.

Who can avail the benefits of the scheme?

Those who lost their job not by choice, but due to reasons such as company closure or permanent disability unrelated to employment.
Those for whom ESI contributions have been deposited for the prescribed period.
Employees registered under the ESIC scheme.