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Pradhan Mantri Shram Yogi Maandhan | PMSYM

Pradhan Mantri Shram Yogi Maandhan

PMSYM-Prime Minister Shram Yogi MaanDhan is a government scheme for the aging and social security of unorganized workers. Unorganized Workers engage as home base workers, street vendors, mid-day meal workers, head loaders, brick kiln workers, cobblers, rag pickers, domestic workers, washer man, rickshaw drivers, landless laborers, self account workers. In other occupations similar to agricultural workers, construction workers, bidi workers, handloom workers, leather workers, audiovisual workers or workers. There are about 42 crore such unorganized laborers in the country.

Eligibility Criteria for PMSYM

  • Applicant age between 18 years to 40 years
  • Beneficiaries to be unorganized worker.
  • Applicant monthly income maximum Rs.15000.00
  • Adhar Number compulsory.
  • Applicant a bank account or Jaan dhan Account with IFSC
  • Subscriber of Employees Provident Fund Organization / National Pension System / Employees State Insurance Corporation should not be eligible.

Family benefit of PMSYM

  • Eligible customer died at the time of pensioning, only spouse will entitle to receive fifty percent pension amount.
  • If the subscriber unable to continue to contribute for any cause, spouse can continue the regular contribution.
  • If spouse want to stop to contribute, Total sum of contribution with interest of their contribution will return. Remember that interest as pension fund or interest as saving bank, which is higher to be added.
  • If the subscriber exit the scheme ten years of his joining date, will get only total contribution and interest as per saving bank account.
  • If the subscriber exit the scheme after ten years of his joining date, will get total contribution and interest as pension fund or interest of saving bank account which is higher.
  • After death of Subscriber and his/her spouse, contribution to be credited their bank account.

Monthly contribution chart of Pradhan Mantri Shram Yogi Maandhan or PMSYM

Entry Age (Yrs)Superannuation AgeMember’s monthly Contribution (Rs.)Central Govt’s monthly contribution (Rs.)Total monthly contribution (Rs)
(A)(B)(C)(D)(Total = C + D)
18605555110
19605858116
20606161122
21606464128
22606868136
23607272144
24607676152
25608080160
26608585170
27609090180
28609595190
2960100100200
3060105105210
3160110110220
3260120120240
3360130130260
3460140140280
3560150150300
3660160160320
3760170170340
3860180180360
3960190190380
4060200200400
Entry age specific monthly contribution

How to apply in Pradhan Mantri Shram Yogi Maandhan or PMSYM

  1. Interested eligible person shall visit nearest CSC centre.
  2. Following are the prerequisites for the enrollment process:
    • Aadhaar Card
    • Savings/Jan Dhan Bank Account details along with IFSC Code ( Bank Passbook or Cheque Leave/book or copy of bank statement as evidence of bank account )
  3. Initial contribution amount in cash will be made to the Village Level Entrepreneur (VLE).
  4. The VLE will ask the Aadhaar number, Name of subscriber and Date of birth as printed on aadhaar card for authentication.
  5. The VLE will complete the online registration by filling up the details like Bank Account details, Mobile Number, Email Address, Spouse (if any) and Nominee details.
  6. Self-certification for eligibility conditions will be done.
  7. System will auto calculate monthly contribution payable according to age of the Subscriber.
  8. Subscriber will pay the 1st subscription amount in cash to the VLE.
  9. Enrollment cum Auto Debit mandate form will be printed and subscriber will sign the form. VLE will scan the same and upload it into the system.
  10. A unique Shram Yogi Pension Account Number (SPAN) will be generated and Shram Yogi Card will be printed.

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