Pradhan Mantri Shram Yogi Mandhan Yojana: All you need to know

The Pradhan Mantri Shram Yogi Mandhan has been launched by the central government to tackle financial problems in the unorganised sector. Workers earning below Rs 15000, receive Rs 3000 as pension under this scheme.

Table of Contents

This scheme was announced by Union Minister Piyush Goyal on February 1st, 2019. The Pradhan Mantri Mandhan Yojana benefits the working-class people in unorganised sectors, such as, drivers, labourers, rickshaw pullers, cobblers, street vendors, etc.

Pradhan Mantri Shram Yogi Mandhan Yojana 2022

Pradhan Mantri Shram Yogi Mandhan Yojana was started on February 15th, 2019. People above 60 years of age are given a pension of 3000 rupees every month. However, people under 18 to 40 years can apply for this Pradhan Mantri Shram Yogi Yojna 2022.

People working for government offices, the Employees Provident Fund, the NPS (National Pension Scheme), and all the State Employees Insurance Corporation members cannot benefit from this scheme. Any Shram Yogi taking the scheme must not be an income taxpayer.

Pradhan Mantri Shram Yogi Mandhan Yojana: Donate a Pension program

The donate a pension program has been initiated under the Pradhan Mantri Shram Yogi Mandhan Yojana. Under this scheme, the citizen can contribute towards the premium contribution of domestic workers, drivers, and support staff. Under this program, workers aged 18 to 40 in the unorganised sector can get themselves registered. Depending on the age, Rs 660 to Rs 2000 can be deposited every year.

Family benefits in sudden death or some disability to a beneficiary person

In case of death of the beneficiary during the period of pension receipt, then 50 percent of the pension amount will be given to the spouse only. However, if the beneficiary has made regular contributions to the pension amount but dies before the age of 60, the spouse can avail of the benefits of this pension amount by adding the continued payments to this scheme.

PM Shram Yogi Maandhan Yojana: Recent Updates

PM Shram Yogi Mandhan Yojana was initiated by the government to help low-wage earners in the unorganised sector, and almost 44.90 lakh workers have already got themselves registered under it. The workers who earn below Rs 15000 and are 18 to 40 years old can register under this scheme. However, the beneficiary requires to invest the deposit in a minimal amount to take advantage of this scheme. The minimal deposit amount is determined on an age basis ranging from Rs 55 to Rs 200.

Pradhan Mantri Shram Yogi Maandhan Yojana is being operated by the Life Insurance Corporation of India. To apply under this scheme, an Aadhar card, passbook, or bank account will have to be taken to the CSC centre.
The Shramik Card is given to the beneficiary when the account is open. However, if one needs to find more information on this scheme, the helpline number is 18002676888.

PMSYM Registration 2022

The PMSYM registration in 2022 is the same as it was for PMSYM Registration 2021:

To join the scheme, the beneficiaries must have an Aadhar card, bank account, and bank account to be linked with the Aadhar card.
The applicant will pay the premium amount every month under the PMSYM scheme.
The premium of Shram Yogis is decided based on age. For example, people above 18 years pay Rs 55 as a premium for the month. However, workers aged 29 pay a Rs 100 premium per month, and a 40 years person pays a Rs 200 per month premium.
To apply under the Pradhan Mantri Shram Yogi Maandhan Yojana, one can register through the nearest public service centre or even a digital service centre.
To get the registration done, take the bank account passbook and Aadhar card with you.

Prime Minister Shram Yogi Mandhan Yojana: Objective

The main objective of PMSYM Yojana is to provide financial assistance to the workers of the unorganised sectors by giving a pension amount of Rs 3000 after retirement. The total amount collected through this scheme helps the beneficiary live their old age peacefully.

PMSY 2022

Schemes like LIC, EPFO, ESIC, etc., run under the PMSY scheme. Daily wage earners who do not have any fixed income are eligible for the PMSY (Pradhan Mantri Shram Yogi Yojana). The VLE enrols the eligible citizens in the PM-SYM scheme through the Digital Seva website online. If the beneficiary dies while getting a pension under this scheme, 50 percent of his pension amount will be given to his spouse.

Pradhan Mantri Shram Yogi Mandhan Yojana: Withdrawal benefits

If the beneficiary withdraws from the PMSYM scheme within ten years from the date of the scheme, then the contribution portion will be refunded to him with the savings bank rate of interest.
If the beneficiary withdraws from the PMSYM scheme after completing ten years of purchase but before the age of 60 years, then he will be refunded his contribution part, along with accumulated interest.
If the beneficiary has contributed regularly and dies for any reason, their spouse can continue the scheme by paying the regular contribution.
The fund will be credited back after the death of the subscriber and their husband or wife.

Prime Minister Shram Yogi Mandhan Yojana: Key points

The Life Insurance Corporation of India works as a nodal agency.
The beneficiary has to deposit the premium amount at the LIC office every month. After completing this scheme, a monthly pension will be provided to the beneficiary by LIC through bank transfer.
Until 6th May 2022, almost 64.5 lakhs people got themselves registered under this scheme.

Pradhanmantri Shram Yogi Mandhan Yojana: Benefits

The working class in unorganised sectors, such as car drivers, labourers, street vendors, maids, rickshaw pullers, etc., will be advantaged through this scheme.
After 60 years of age, the eligible beneficiaries will be sent Rs 3000 of pension every month.
As much as you contribute to PM Shram Yogi Maandhan Yojana, the government also contributes the same amount to your account.
After your death, the wife will get half the pension of Rs 1500.
Under this scheme, the amount of Rs 3000 given by the government will be directly transferred from the savings bank account or Jan Dhan account of the beneficiaries through the auto-debit facility.

Pradhanmantri Shram Yogi Mandhan Yojana: Enrollment Process

You visit a CSC with the requisite documents
CSCs will help enrol you.
Your instalment will automatically get calculated, given your age
The first instalment will get deducted from your CSC wallet and subscribers need to pay in cash
After payment, your online Shram Yogi Pension number will get generated.
Then, you need to sign the acknowledgement and debit mandate form.
CSCs will scan and upload the signed documents.
They will then print and give you the Shram Yogi card.
Post bank confirmation, debit and SMS services will get activated.

Pradhanmantri Shram Yogi Mandhan Yojana: Who is it not for?

Organised sector person
Members of Employees’ Provident Fund
Member of the National Pension Scheme
Member of State Employees Insurance Corporation
People paying income tax

Pradhan Mantri Shram Yogi Maandhan Yojana: Beneficiaries

Small and marginal farmers
Landless agricultural labourer
Fisherman
Animal keeper
Labelling and packing in brick kilns and stone quarries
Construction and infrastructure workers
Leather craftsmen
Weaver
Sweeper
Domestic workers
Vegetable and fruit seller
Migrant labourers, etc.

PMSYM Yojana: How to exit?

Certain conditions are to be followed when the beneficiary leaves the Pradhan Mantri Shram Yogi Mandhan Yojana in the middle of the term, such as:

If the beneficiary leaves the scheme before ten years, he will be given the amount based on the savings bank account rate.
In case of the beneficiary’s death, his spouse can further move with this scheme by paying a premium.
If the beneficiary exits the scheme after ten years or more but before 60 years – he will be paid a contribution of accrued interest with savings and contribution bank rate.
If a person becomes disabled or ashram prior to 60 years of age and cannot pay the premium, their spouse can continue in the scheme.

PM Shram Yogi Maandhan Yojana: Eligibility

You should be a labourer in the unorganised sector.
Your monthly income should not be more than Rs 15000.
Your age should be between 18 years to 40 years.
You should not be an income taxpayer or a taxpayer.
You should not be covered under EPFO, NPS, and ESIC

PMSYM Yojana: Required documents

Aadhar Card
Identity card
Bank account passbook
Postal address
Mobile number
Passport size photo

PMSYM Yojana: Monthly contribution

PMSYM Entry Age	PMSYM Superannuation Age	PMSYM Beneficiary’s Monthly Contribution	PMSYM Government’s Monthly Contribution	PMSYM Total Monthly Contribution
18	60	55	55	110
19	60	58	58	116
20	60	61	61	122
21	60	64	64	128
22	60	68	68	136
23	60	72	72	144
24	60	76	76	152
25	60	80	80	160
26	60	85	85	170
27	60	90	90	180
28	60	95	95	190
29	60	100	100	200
30	60	105	105	210
31	60	110	110	220
32	60	120	120	240
33	60	130	130	260
34	60	140	140	280
35	60	150	150	300
36	60	160	160	320
37	60	170	170	340
38	60	180	180	360
39	60	190	190	380
40	60	200	200	400

Shram Yogi Mandhan Yojana: Offline Application

Citizens Interested in applying for the Pradhan Mantri Shram Yojana can visit the nearest public service centre carrying all necessary documents such as Aadhar, Licence, Passbook, Address Proof, etc.
Submit all the necessary documents to the CSC officer.

After you submit the documents to the CSC officer, he will complete your form, print out the application form and give it to you.
Later take out a print of this application form and keep it safe for later use.

Pradhan Mantri Maan-Dhan Yojana Online Apply: Self-enrollment

First of all, go to the official website of Pradhan Mantri Shram Yogi Mandhan Yojana.
On the home page, you have to press the click here to apply now button.

Here you will find an option of Self Enrollment – Move forward by clicking on it. You will be asked for your mobile number. Enter it and click the Proceed button.
When you click on the button, you will find your name, mail ID, and a captcha code option on your screen. After you fill in your personal details, there will be a Generate OTP option. You will receive an OTP on your phone/email, enter the OTP and click on verify.
Then fill out the application form where you will have to upload the original documents in jpeg format. Review the application form once it is completed and click on submit.