The Employees' State Insurance Corporation (ESIC) has approved the extension of the Atal Beemit Vyakti Kalyan Yojana (ABVKY), an unemployment benefit scheme, for one year from July 1, 2026, to June 30, 2027. The scheme provides financial assistance to insured persons who become unemployed, with specific eligibility criteria requiring a minimum of 12 months of insurable employment immediately preceding unemployment and at least 78 days of contributions in one completed contribution period during the 12 months prior to unemployment. Benefits are not available for unemployment arising from misconduct, during lockouts, upon superannuation, or if convicted for false statements under the ESI Act, 1948.
ESIC has implemented several measures to expedite claim settlements, including online submission and processing of claims, direct benefit transfer (DBT) to beneficiaries' bank accounts, and regular monitoring to ensure timely disbursal of benefits. Financial data shows that the scheme disbursed Rs 1.01 crore to 688 beneficiaries in 2023-24, Rs 2.72 crore to 1,978 beneficiaries in 2024-25, and Rs 1.52 crore to 1,406 beneficiaries in 2025-26. This information was formally provided by Union Minister of State for Labour & Employment Shobha Karandlaje in a written reply to the Lok Sabha.