How to plan a pension fund for your domestic staff? Check out the latest pension scheme

Union Labour and Employment Minister Bhupender Yadav on Monday launched the 'Donate-a-Pension' programme under Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) for people to contribute to the pension fund of their support staff.Premium
Union Labour and Employment Minister Bhupender Yadav on Monday launched the 'Donate-a-Pension' programme under Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) for people to contribute to the pension fund of their support staff.
1 min read . Updated: 07 Mar 2022, 12:10 PM IST Livemint

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In an attempt to ease out the process of planning and contributing to a pension fund for immediate support staff, Union Labour and Employment Minister Bhupender Yadav on Monday launched the 'Donate-a-Pension' programme under Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM)

The Labour Minister shared on Twitter the pension scheme where citizens can donate the premium contribution for staff including domestic workers, drivers, domestic help, noting, "launched 'Donate-a-Pension' programme at my residence by donating to the gardener. It is an initiative under (PM-SYM) pension scheme where citizens can donate the premium contribution of their immediate support staff such as domestic workers, drivers, helpers etc."

"Under PM-SYM, Workers working in the unorganised sector in the age group of 18-40 years can register themselves and deposit a minimum of 660 to 2400 every year depending on their age. After attaining the age of 60 years they will receive the minimum assured pension of 3,000 per month," said Yadav.

The 'Donate-a-Pension' program unveiled today is part of many initiatives by the Labour Ministry to be launched in the 'Iconic Week' being celebrated by the Ministry from March 7 to 13.

These activities include celebrating 25 crore registrations under e-SHRAM, launching of e-SHRAM on UMANG app, the launch of 'Donate-a-Pension', Job fair by National Career Service centers, placement drives, and placement-oriented camps with a special focus for SC/STs and differently-abled persons at 65 places across India, awareness generation and sensitization of workers and employers about their rights and compliances respectively under various Labour Laws in the entire iconic week by the Chief Labour Commissioner at 20 regional offices across the country.

(With inputs from agencies)

 

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