PMSYM Scheme 2024-25: Objective, Eligibility, Benefits, Features

PMSYM Scheme:- Mantri Pradhan Shram A Central Government program called Yogi Maandhan Yojana was put into place to give workers in the unorganized sectors social security and old age protection. under which, at reaching the age of 60, the beneficiary is eligible to receive a pension of Rs 3,000 per month.

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What is PM Shram Yogi Maandhan Yojana 2024?

This is a voluntary pension plan that allows the beneficiary to earn a monthly income of Rs 3,000 after turning sixty years old. In the event of the beneficiary’s death, the beneficiary’s spouse will receive 50% of the annuity. possesses the right to a pension. Only the spouse is eligible for a pension in the form of a family pension.

This requires the beneficiary to fund a pension account with a predetermined amount based on his age; after 60 years, this money becomes payable as a pension. The applicant, who must be between the ages of 18 and 40, must contribute between Rs. 55 and Rs. 200 per month until he reaches the age requirement in order to receive the benefit.

PMSYM Scheme2024 Overview

Name of the scheme	PMSYM Scheme
Who started	Finance Minister Shri Piyush Goyal
When was it started	15 February
Beneficiary	workers in unorganized sectors
Number of beneficiaries	about 10 crores
Contribution	From Rs 55 to Rs 200 monthly
Pension amount	Rs 3000 monthly
Category	Central government scheme
Official website	Click Here

Also Read:- Rashtriya Swasthya Bima Yojana

The objective of the PMSYM Scheme

The primary goal of the Pradhan Mantri Shram Yogi Maandhan Yojana is to give workers in the unorganized sectors social security and old age security. In such cases, this program has been put in place with the intention of giving the person a monthly pension as financial aid while they are unable to work, earn a livelihood, and stay reliant on others.

Eligibility For PMSYM Scheme

The candidate needs to be an Indian citizen.
He ought to be between the ages of 18 and 40.
This initiative is only available to workers in the unorganized sector.
Benefit recipients will begin to receive payments at the age of sixty.
The applicant’s monthly income cannot be more than Rs 15000.

What are the required documents for PM Shram Yogi Maandhan Yojana?

Aadhar card
identity card
Bank Account Number with IFSC Code
Postal address
mobile number
passport size photo
e-ashram registration number and card

PMSYM SchemePremium Chart (Amount for Contribution Per Month)

Entry Age (A)	Superannuation Age (B)	Member’s Monthly Contribution (Rs)(C)	Central Govt’s Monthly Contribution (Rs) (D)	Total Monthly contribution (Rs) (Total= C+D)
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

Also Read:- Pradhan Mantri Ayushman Bharat Yojana

Benefits and features available in PM Shram Yogi Maandhan Yojana

An individual will be eligible to earn a monthly pension of Rs. 3000/-upon the scheme’s maturity.
The pension holders’ ability to cover their basic necessities will be aided by the pension amount.
For those who labor in the unorganized sectors, this program may be like a light in the dark—it will enable them to support themselves financially even as they age and not rely on others.
advantages for employees in the unorganized sectors, who make up over 50% of the GDP of the nation.
A provision exists that provides a 50% pension to either the wife or the husband following the death of the other.
At your request, the government deposits the same amount of money that you deposit in the scheme.
In order to get the initial pension, the applicant must be at least sixty years old.
The candidate is eligible to get the pension after he turns sixty years old.
A predetermined pension amount is placed into the beneficiary’s pension account each month.

Who will get the benefit of the scheme?

There are over 42 crore unorganized workers in the nation that work in unorganized sectors; the majority of these people are remote workers, such as

street vendors
midday meal workers
head loader
brick kiln worker
Cobbler
garbage collectors
domestic workers
Washerman
rickshaw puller
Workers engaged in labor as landless laborers
agricultural workers
construction workers
beedi workers
handloom workers
leather worker
audiovisual workers

Alternatively, those employed in allied professions will profit from the program.

Who cannot get the benefit of the scheme?

employees in the organized sector
a registered Employee Provident Fund participant
Employees enrolled in the National Pension Plan
Employees with ESIC registration and income taxpayers
This scheme will not assist those whose monthly salary exceeds Rs 15,000, etc.

Step-by-step process of how to apply for the PMSYM Scheme

To be eligible for the Pradhan Mantri Shram Yogi Mandahan Yojana, you must first visit the CSC Center, a public service center, with the required paperwork. This includes your mobile number, bank passbook, Aadhar card, and other documentation.
Subsequently, you must present the CSC operator with all of your documentation. The CSC agent will then fill out your application and print it for you.
Following this, print up the application form and store it safely for later use.
Your application for the PMSYM Scheme will be finished in this manner.

Self Registration Process

You must first visit Shram Yogi Maandhan Yojana’s official website. It will display the main page. There, under the Services page, you must select the New Enrollment link.

Also Read:- Rajasthan Free Scooty Yojana

The “Self Enrollment” option is what you need to click on on this Pradhan Mantri Shram Yogi Maandhan Yojana page.
Upon selecting this option, you will be required to provide your mobile number. After that, you must click the Send OTP button.
The website dashboard appears in front of you, and you will now receive an OTP that you must input in order to continue.

You must now select the Enrollment button inside the service selection, fill out the application, and submit the necessary files into the JPIG form. The application form must then be submitted following review.

After that, print it off and store it somewhere secure. which you will find beneficial in the future

Registration process by CSC VLE

The Pradhan Mantri Shram Yogi Maandhan Yojana official website must be visited first. Following this, the main page will show up in front of you. The CSC VLE link that says “Log in with digital seva connects” must be clicked there.
Upon clicking the CSC VLE link, a new page will open requiring you to enter your password and CSC VLE ID. You will then be able to access your dashboard by filling out the captcha and clicking the Proceed button.
You now need to choose “Pradhan Mantri Shram Yogi Maandhan Yojana” from the “Schemes” option.
A screen inquiring as to whether or not you have an ashram registration will show up when you select this option. Choose the one that best fits your current circumstances, then go forward.
Now is the time to apply for the Pradhan Mantri Shram Yogi Maandhan Yojana.
All required fields in this form must be filled out, including name, email address, address, state, and district. Next, select the “Submit” option after uploading all of the necessary documents.
You can apply with ease if you fill out your form using the CSC VLE in this manner.

Details of benefits given on withdrawal from Shram Yogi Maandhan Yojana

Withdrawal within fewer than 10 years: A beneficiary will only receive a partial reimbursement of his contribution at the bank rate applicable to his savings account, less any interest that has been paid if he withdraws money within 10 years after the scheme’s launch.
Following the 10-year term: A person will receive a return of their portion of the contribution plus the accrued interest if they withdraw from the scheme after it has been in effect for 10 years but before they turn 60.
Following death: The spouse of a beneficiary who has made regular contributions has the right to carry on the program by making regular contributions in the event of the beneficiary’s death for whatever cause.
Following the demise of the subscriber and any connected individuals: The deposited money will be reimbursed following the demise of the subscriber and their spouse.

FAQ’s

Q. What is the Shram Yogi Maandhan Yojana’s monthly payment?

Ans- The applicant, who must be between the ages of 18 and 40, must contribute between Rs. 55 and Rs. 200 every month until he becomes 60 to be eligible for the benefit.

Q. What is the pension system for 3000 monthly?

Ans- After turning sixty years old, beneficiaries of the Shram Yogi Maandhan Yojana receive a monthly pension of Rs 3,000; further details are provided in the article above.

@PAY