Pradhan Mantri Shram Yogi Maandhan Yojana - PMSYM Registration, Benefits, Eligibility

What is PMSYM?

PMSYM means Pradhan Mantri Shram Yogi Maandhan Yojana. It is a Central Government Scheme. This PMSYM scheme provides old age protection and social security.

Benefits of PMSYM Registration

Those who join the scheme will get a pension of Rs.3,000 per month after the age of 60 Years.

At the time receiving the pension, if the eligible beneficiary dies, only his spouse is entitled to receive only fifty percent of the pension of the eligible beneficiary, such family pension applies only to the spouse.

If the eligible beneficiary makes regular donations under the age of 60 Years and becomes permanently disabled due to any reason and is unable to continue the donation under the scheme his or her spouse is eligible to continue in the scheme through regular payment.

Benefits on Leaving the PMSYM Scheme

If the eligible beneficiary leaves the scheme within 10 Years from the date of joining the scheme, the share provided by him will be refunded to him at the savings bank interest rate only.

If the eligible beneficiary leaves ten years or more after the date of joining the scheme but leaves before the age of sixty, only his share will be refunded to him along with the interest earned on it by the Pension Fund or Savings Bank interest rate, whichever is higher.

After the death of the beneficiary and his or her spouse, the corpus is credited back to the fund.

Features

Assured Pension of Rs.3,000/- per month.
Voluntary and Contributory Pension Scheme.
Matching Contribution by the Government of India.

Eligibility

Must be Unorganized Workers.
Age between 18-40 Years.
Monthly income upto Rs.15,000/-
Should not be an Income tax payer.
Should not be Engaged in Organized Sector (Member of EPFO/NPS/ESIC).

Who are the Unorganized Workers?

Home Based Workers
Street Vendors
Mid-Day Meal Workers
Head Loaders
Brick Kiln Workers
Cobblers
Rag Pickers
Domestic Workers
Washer Men
Rickshaw Pullers
Landless Laborers
Own Account Workers
Agricultural Workers
Construction Workers
Beedi Workers
Handloom Workers
Leather Workers
Audio-Visual Workers etc.

How to Apply for this PMSYM Scheme

1^st Step :- Those who are interested and eligible to join this PMSYM scheme should contact the nearest Common Service Center (CSC).

2^nd Step :- You must have the following documents for the Registration Process.

Aadhar Card
Savings Bank Account with IFSC Code or Jan Dhan Bank Account details with IFSC Code.

3^rd Step :- If you give your documents i.e. Aadhar Card, Bank Account to CSC VLE they will open a PMSBY Account for you.

Required Documents

Aadhar Card
Savings Bank Account with IFSC Code or Jan Dhan Account details with IFSC Code

Entry Age Specific Monthly Contribution

Entry Age (Yrs) (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	55.00	55.00	110.00
19	60	58.00	58.00	116.00
20	60	61.00	61.00	122.00
21	60	64.00	64.00	128.00
22	60	68.00	68.00	136.00
23	60	72.00	72.00	144.00
24	60	76.00	76.00	152.00
25	60	80.00	80.00	160.00
26	60	85.00	85.00	170.00
27	60	90.00	90.00	180.00
28	60	95.00	95.00	190.00
29	60	100.00	100.00	200.00
30	60	105.00	105.00	210.00
31	60	110.00	110.00	220.00
32	60	120.00	120.00	240.00
33	60	130.00	130.00	260.00
34	60	140.00	140.00	280.00
35	60	150.00	150.00	300.00
36	60	160.00	160.00	320.00
37	60	170.00	170.00	340.00
38	60	180.00	180.00	360.00
39	60	190.00	190.00	380.00
40	60	200.00	200.00	400.00

PMSYM Scheme Details Table

Name of Scheme	Pradhan Mantri Shram Yogi Maandhan Yojana
Official Website	maandhan.in/shramyogi
Scheme	Central Government Scheme
Ministry	Ministry of Labour and Employment
Launched Country	India