Pradhan Mantri Laghu Vyapari Maan-dhan Yojana 2019

Jul 24, 2019 | by Avantis RegTech Legal Research Team

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The Ministry of Labour and Employment (MoLE) on July 22, 2019, has published a Scheme called the Pradhan Mantri Laghu Vyapari Maan-dhan, Yojana 2019 to provide old age protection to the Laghu Vyaparis (Small businesses). It will come into force on July 22, 2019.

The provisions of this Scheme shall apply to the Laghu Vyaparis, who are self-employed and working as shop owners, retail traders, rice mill owners, oil mill owners, workshop owners, commission agents, brokers of real estate, owners of small hotels, restaurants and other Laghu Vyaparis. The operations of such small traders are generally characterized by family-owned establishments, small scale of operations, labour intensive, inadequate financial aid, seasonal in nature and extensive unpaid family labour. 

This Scheme shall be open only to the Laghu Vyapari for joining, whose annual turnover does not exceed Rs 1.5 crore, based on self-declaration, who has a savings bank account in his name and Aadhar number. Whereas, the Laghu Vyapari shall not be eligible to join the Scheme, if he is covered under National Pension Scheme contributed by the Central Government or Employees’ State Insurance Corporation Scheme under the Employees’ State Insurance Act, 1948 or Employees’ Provident Fund Scheme under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 or he is an income-tax assessee.

[Notification No. S.O. 2615(E)]


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