UPSC EPFO APFC • EPFO EO/AO • NABARD Grade A • RBI Grade B
⚡ Quick Answer & AI Exam Snapshot (TL;DR)
Social Security in India (Paper 07 of UPSC EPFO APFC and ESI in RBI/NABARD) is tested through exact numerical parameters of flagship schemes: Age Limits, Income/Turnover Ceilings, Premium/Contribution Rates, Assured Pension/Cover Amounts, and Nodal Ministries/Fund Managers (LIC vs PFRDA). Memorizing the side-by-side comparison of PM-SYM, e-Shram, PMJJBY, PMSBY, APY, and NSAP guarantees 4 to 6 direct marks.
1. Master Comparison Matrix of India’s 6 Flagship Social Security Schemes
| Scheme Name & Launch Year | Nodal Ministry & Fund Manager | Target Age Group & Income/Tax Limit | Contribution / Premium & Assured Benefit |
|---|---|---|---|
| 1. PM-SYM (Pradhan Mantri Shram Yogi Maan-Dhan, 2019) |
Ministry of Labour & Employment Pension Fund Manager: LIC of India |
Age: 18 to 40 years Monthly Income ≤ ₹15,000 Must NOT be an Income Tax payer or covered under EPFO/ESIC/NPS. |
50:50 Matching Contribution (₹55 to ₹200/month by worker + equal amount by Central Govt). Benefit: ₹3,000/month assured pension after age 60 (50% i.e. ₹1,500 family pension to spouse on death). |
| 2. NPS-Traders / PM-LVMY (Laghu Vyapari Maan-Dhan, 2019) |
Ministry of Labour & Employment Manager: LIC of India |
Age: 18 to 40 years Shopkeepers/retail traders with Annual Turnover ≤ ₹1.5 Crore. |
50:50 Matching Contribution (₹55 to ₹200/month). Benefit: ₹3,000/month assured pension after age 60. |
| 3. PM-KMY (Kisan Maan-Dhan Yojana, 2019) |
Ministry of Agriculture & Farmers Welfare Manager: LIC of India |
Age: 18 to 40 years Small & Marginal Farmers (SMFs) owning cultivable land up to 2 Hectares. |
50:50 Matching Contribution (₹55 to ₹200/month). Benefit: ₹3,000/month assured pension after age 60. |
| 4. Atal Pension Yojana (APY) (Launched May 2015, replacing Swavalamban) |
Ministry of Finance (DFS) Regulator: PFRDA |
Age: 18 to 40 years (Since 1 Oct 2022: Any citizen who is or has been an Income Tax payer is NOT eligible to join APY!). |
Guaranteed Monthly Pension at age 60: Five fixed slabs of ₹1,000, ₹2,000, ₹3,000, ₹4,000, or ₹5,000/month (Spouse gets 100% same pension on subscriber’s death; nominee gets ₹1.7L to ₹8.5L corpus). |
| 5. PMJJBY (Jeevan Jyoti Bima Yojana, May 2015) |
Ministry of Finance (DFS) Offered via LIC & Life Insurers |
Age: 18 to 50 years (Life cover continues up to age 55). Annual cycle: 1 June to 31 May. |
Annual Premium: ₹436 per annum (revised from ₹330 in June 2022). Benefit: ₹2,00,000 (₹2 Lakh) on death due to ANY cause (natural or accidental). |
| 6. PMSBY (Suraksha Bima Yojana, May 2015) |
Ministry of Finance (DFS) Offered via General Insurers |
Age: 18 to 70 years Savings bank / post office account with auto-debit. Annual cycle: 1 June to 31 May. |
Annual Premium: ₹20 per annum (revised from ₹12 in June 2022). Benefit: ₹2,00,000 for Accidental Death or Total Permanent Disability; ₹1,00,000 for Partial Permanent Disability. |
2. e-Shram Portal (‘One-Stop-Solution’ for Unorganised Workers) & Chapter IX of Code on Social Security, 2020
- e-Shram Portal (Launched 26 August 2021 by Ministry of Labour & Employment): India’s first National Database of Unorganised Workers (NDUW) seeded with Aadhaar.
- 12-Digit Universal Account Number (UAN): Every registered unorganised worker receives a permanent 12-digit e-Shram UAN Card valid across India.
- Eligibility for e-Shram: Age 16 to 59 years (Notice: 16–59 years for e-Shram vs 18–40 years for PM-SYM!), working in the unorganised sector (construction workers, migrant workers, gig & platform workers, street vendors, domestic workers, agricultural labourers), NOT an Income Tax payer, and NOT a member of EPFO or ESIC.
- Statutory Backing under Code on Social Security, 2020 (Chapter IX, Sections 109–114):
- Section 109: Central Government frames welfare schemes for unorganised workers (Life & Disability cover, Health & Maternity, Old Age Protection); State Governments frame schemes for provident fund, employment injury, housing, and educational schemes.
- Section 114 (Gig & Platform Workers): First statutory recognition in India of Gig Workers and Platform Workers. Aggregators (listed in Schedule VII — ride-sharing, food delivery, e-marketplaces) must contribute 1% to 2% of their annual turnover, capped at 5% of the amount paid/payable by the aggregator to gig and platform workers, into the Social Security Fund (Section 141).
3. National Social Assistance Programme (NSAP — 1995) & PM-SVANidhi
- National Social Assistance Programme (NSAP): Launched on 15 August 1995 under the Ministry of Rural Development to fulfill Article 41 of the Constitution (Directive Principles of State Policy). Covers Below Poverty Line (BPL) households through 5 sub-schemes:
- IGNOAPS (Indira Gandhi National Old Age Pension Scheme): Age 60–79 years (₹200/month central share) and ≥80 years (₹500/month central share) + State top-ups.
- IGNWPS (Indira Gandhi National Widow Pension Scheme): BPL widows aged 40–79 years (₹300/month central share).
- IGNDPS (Indira Gandhi National Disability Pension Scheme): BPL persons aged 18–79 years with severe/multiple disabilities ≥80% (₹300/month central share).
- NFBS (National Family Benefit Scheme): Lump-sum grant of ₹20,000 to a BPL household on the death of the primary breadwinner aged 18 to 59 years.
- Annapurna Scheme (2000): 10 kg of free foodgrains per month to indigent senior citizens (≥65 years) who are eligible for IGNOAPS but are not receiving the pension.
- PM-SVANidhi (2020, Ministry of Housing & Urban Affairs): Collateral-free micro-credit working capital loans for urban street vendors in 3 tranches (₹10,000 → ₹20,000 → ₹50,000) with a 7% per annum interest subsidy on timely repayment and up to ₹1,200/year cashback on digital UPI transactions.
🎯 High-Yield Exam One-Liners (Last-Minute Revision Box)
- PM-SYM (Pradhan Mantri Shram Yogi Maan-Dhan) provides an assured monthly pension of ₹3,000 after age 60 for unorganised workers.
- Eligibility for PM-SYM: Entry age 18 to 40 years, monthly income ≤ ₹15,000, not an Income Tax payer, and not covered under EPFO/ESIC/NPS.
- In PM-SYM, if a subscriber dies after age 60 while receiving pension, the spouse is entitled to 50% of the pension (₹1,500/month) as Family Pension.
- By contrast, in Atal Pension Yojana (APY), upon the death of the subscriber after age 60, the spouse receives 100% (the SAME pension amount) until death!
- Since 1 October 2022, any citizen who is or has been an Income Tax payer is strictly ineligible to open an Atal Pension Yojana (APY) account.
- Atal Pension Yojana (APY) offers 5 guaranteed pension slabs at age 60: ₹1,000, ₹2,000, ₹3,000, ₹4,000, and ₹5,000 per month.
- PMJJBY (Pradhan Mantri Jeevan Jyoti Bima Yojana) covers ages 18 to 50 years with a ₹2 Lakh death cover (any cause) at an annual premium of ₹436.
- PMSBY (Pradhan Mantri Suraksha Bima Yojana) covers ages 18 to 70 years with a ₹2 Lakh accidental death/total disability cover (₹1 Lakh partial) at an annual premium of ₹20.
- The annual coverage cycle for both PMJJBY and PMSBY runs from 1st June to 31st May.
- The e-Shram Portal was launched on 26 August 2021 by the Ministry of Labour & Employment and issues a 12-digit Universal Account Number (UAN).
- Eligibility age for registering on the e-Shram Portal is 16 to 59 years (wider than PM-SYM’s 18 to 40 years).
- NPS-Traders (PM Laghu Vyapari Maan-Dhan Yojana) covers self-employed shopkeepers and retail traders aged 18–40 with annual turnover ≤ ₹1.5 Crore.
- PM-KMY (Pradhan Mantri Kisan Maan-Dhan Yojana) covers Small and Marginal Farmers (up to 2 hectares land) aged 18–40 with ₹3,000/month pension.
- LIC of India is the Pension Fund Manager for PM-SYM, NPS-Traders (PM-LVMY), and PM-KMY.
- Under Section 114 of the Code on Social Security, 2020, Aggregators contribute 1% to 2% of annual turnover (capped at 5% of amount payable to gig/platform workers) to the Social Security Fund.
- National Social Assistance Programme (NSAP, 1995) is administered by the Ministry of Rural Development to implement Article 41 of the Constitution.
- Under the National Family Benefit Scheme (NFBS) of NSAP, ₹20,000 lump-sum assistance is paid to a BPL family on the death of the primary breadwinner (aged 18–59).
- Under the Annapurna Scheme (NSAP), 10 kg of free foodgrains per month are provided to uncovered indigent senior citizens aged 65+.
- PM-SVANidhi is administered by the Ministry of Housing & Urban Affairs (MoHUA) and provides ₹10k, ₹20k, and ₹50k working capital loans with 7% interest subsidy.
- Aam Aadmi Bima Yojana (AABY) was converged into PMJJBY and PMSBY.
📝 UPSC & Regulatory Level Practice MCQs (With Detailed Solutions)
Q1. Consider the following statements regarding the Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) Yojana:
1. It is a voluntary and contributory pension scheme for unorganised workers aged between 18 and 40 years with a monthly income of ₹15,000 or less.
2. Life Insurance Corporation (LIC) of India is the Pension Fund Manager for the scheme.
3. Upon the death of the subscriber during the receipt of pension (after age 60), the spouse is entitled to receive 100% of the pension amount (₹3,000/month) as family pension.
Which of the statements given above are correct?
1. It is a voluntary and contributory pension scheme for unorganised workers aged between 18 and 40 years with a monthly income of ₹15,000 or less.
2. Life Insurance Corporation (LIC) of India is the Pension Fund Manager for the scheme.
3. Upon the death of the subscriber during the receipt of pension (after age 60), the spouse is entitled to receive 100% of the pension amount (₹3,000/month) as family pension.
Which of the statements given above are correct?
Correct Answer: (A) — Statements 1 and 2 are correct. Statement 3 is incorrect because under PM-SYM, the spouse receives only 50% of the pension (i.e., ₹1,500/month) as family pension (whereas under Atal Pension Yojana, the spouse receives 100% of the same pension).
Q2. What are the revised annual premium rates (effective June 2022) and entry age brackets for Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) respectively?
Correct Answer: (B) — From 1 June 2022, PMJJBY premium was revised to ₹436 per annum (for ages 18–50 years) and PMSBY premium was revised to ₹20 per annum (for ages 18–70 years).
Q3. What is the eligible age bracket for an unorganised worker to register on the ‘e-Shram Portal’ and obtain a 12-digit Universal Account Number (UAN)?
Correct Answer: (B) — Any unorganised worker aged between 16 and 59 years (who is not an income tax payer and not a member of EPFO/ESIC) is eligible to register on the e-Shram Portal.
Q4. Under Section 114 of the Code on Social Security, 2020, what is the statutory rate at which digital Aggregators must contribute toward the Social Security Fund for Gig and Platform Workers?
Correct Answer: (A) — Section 114(4) of the Code on Social Security, 2020 mandates that an aggregator’s contribution shall be at a rate notified by the Central Government between 1% and 2% of annual turnover, not exceeding 5% of the amount paid or payable by the aggregator to gig and platform workers.
Q5. Which nodal Ministry administers the National Social Assistance Programme (NSAP), and which Constitutional Article does it directly implement?
Correct Answer: (B) — NSAP (1995) is a Centrally Sponsored Scheme administered by the Ministry of Rural Development and represents a step toward fulfilling Article 41 of the Directive Principles of State Policy (right to public assistance in cases of old age, unemployment, sickness, and disablement).
❓ Frequently Asked Questions (Exam FAQs)
Q: What is the key difference between Family Pension under PM-SYM and Atal Pension Yojana (APY)?
Under PM-SYM, if the subscriber dies after age 60, the spouse receives 50% of the pension (₹1,500/month) and there is no return of corpus to nominees. Under APY, if the subscriber dies after age 60, the spouse receives 100% of the exact same pension amount, and after both die, the entire accumulated pension corpus (₹1.7 Lakh to ₹8.5 Lakh) is returned to the nominee.
Q: Can an Income Tax payer join Atal Pension Yojana (APY) or PM-SYM?
No. PM-SYM has excluded income tax payers since inception, and effective 1 October 2022, the Ministry of Finance barred any citizen who is or has been an income tax payer from opening a new APY account.
Q: What is the annual turnover ceiling for retail traders under NPS-Traders (PM Laghu Vyapari Maan-Dhan Yojana)?
Self-employed shopkeepers, retail traders, and Vyaparis aged 18–40 years whose annual turnover does not exceed ₹1.5 Crore (and who are not covered under EPFO/ESIC/NPS or paying income tax) are eligible.
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