PM Mandhan Yojana: The Pradhan Mantri Shram Yogi Mandhan Yojana, or PM Mandhan Yojana, is a government plan. Its purpose is to give unorganised sector workers a safe pension. This means when they turn 60, they can have a steady. It helps them feel secure and stable in their retirement years.
The Pradhan Mantri Shram Yogi Mandhan Yojana or PM Mandhan Yojana is a pension scheme launched by the Government of India. The main purpose of this scheme is to provide financial support to workers in the unorganized sector by offering a guaranteed monthly ₹3,000 pension after the age of 60 Years. It helps them feel secure and stable in their retirement years.
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Benefits of Shram Yogi Mandhan Yojana 2024
- Monthly pension of up to ₹3,000 after reaching the age of 60.
- Premiums are affordable & meant for the budget of unorganised workers.
- Financial independence during old age, helping reduce reliance on family or welfare.
- Easy online registration makes it simple to apply for the PM Mandhan Yojana 2024.
- Connects to the formal social security system, which boosts overall safety.
- Fixed ₹3,000 monthly income offers financial support.
Who can benefit from the Pradhan Mantri Shram Yogi Mandhan Yojana?
Here’s some important info. This scheme is aimed at workers in the unorganized sector. So, only those in these categories can fully take advantage of this scheme:
- Small & marginal farmers
- Landless agricultural laborers
- Construction workers
- Infrastructure workers
- Fishermen
- Animal keepers
- Leather craftsmen
- Weavers
- Cleaning workers
- Vegetable & fruit vendors
- Migrant workers
- Workers from brick kilns & stone quarries
- Domestic workers, etc.
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Eligibility for PM Shram Yogi Mandhan Yojana 2024.
People who want to benefit must meet certain criteria:
- First, those working in unorganized sectors can get help from the PM Shram Yogi Mandhan Yojana 2024. Also, their monthly income should be under Rs 15,000.
- Only workers aged 18 to 40 years can use this scheme.
- It’s important to note that income taxpayers and government employees (even if someone in their family works for the government) cannot benefit from this scheme.
- Lastly, if you are already covered by EPFO, NPS, or ESIC, then you won’t get any benefits either.
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How to Apply Online for the Pradhan Mantri Shram Yogiandhan Yojana?
- Visit the official website for the Shram Yogi Maandhan Yojana.
- When you get to the main page, look for a link that says “Click Here To Apply Now.”
- You need to click that link.
- After you click, another page will pop up, showing the same “Click Here To Apply Now” option. Clicking it takes you to a new page. On this new page, find the Self-Enrollment option. Go ahead & click it.
- Then, the next page appears where you’ll enter your mobile number and hit the “Proceed” button. After that, you’ll need to fill in your name, email ID, and captcha code on your screen. Finally, click on “Generate OTP.”
- You’ll get an OTP sent to your mobile number that is registered. It’s important to verify that OTP. Once that is done, an application form will open up. Be sure to enter all important details carefully.
- After filling in everything, scan the required documents and upload them. Make sure to check your application form one last time before submitting it.
- Following these steps completes the self-enrollment process. Don’t forget to print out the application form & keep it safe for future reference.
How to Apply Offline for Shram Yogi Mandhan Yojana 2024?
To apply for the Shram Yogi Mandhan Yojana, follow these steps:
- First, visit the nearest Jan Seva Kendra. Don’t forget to bring all the important documents you need.
- Once there, give your documents to the CSC officer.
- You’ll then make a request to apply for the scheme.
- After that, the officer will ask you for some key information. They’ll help you fill out the application form.
- When you’re done with that, you’ll receive a printout of your application form.
- Some service charges will need to be paid to the officer at this point.
- After that, Your application process for the PM Shram Yogi Mandhan Yojana will be complete.
Case Studies: Real-Life Impact
Ramesh Kumar, a Street Vendor:
Ramesh Kumar is 35 years old and sells food on the streets in Delhi. He joined PM Mandhan Yojana when he was 30. By paying his premiums regularly, he will receive up to ₹3,000 each month when he turns 60. This pension will give him peace of mind & financial stability in his retirement.
Sunita Devi, a Domestic Worker:
Sunita Devi is a 40-year-old maid from Uttar Pradesh. She signed up for Shram Yogi Mandhan Yojana two years ago. She looks forward to having a reliable pension at age 60 since she does not have other savings for retirement. This scheme gives her hope for a secure financial future.
Comparison with Other Schemes
Atal Pension Yojana (APY)
- Target Audience: Focused on formal workers & self-employed people.
- Eligibility: Open for individuals aged 18 to 40 years old.
- Pension Amount: Up to ₹5,000 each month based on contributions.
- Premium Payments: Varies by desired pension amount & entry age.
In comparison, while APY offers higher pensions, it’s better suited for formal sector workers or self-employed folks. In contrast, PM Mandhan Yojana targets unorganised sector workers with fixed payments that are easier to manage.
National Pension System (NPS)
- Target Audience: All Indian citizens can join; this includes private & public sector jobs.
- Eligibility: Available for people aged 18 to 65 years.
- Pension Amount: Depends on contributions & how investments perform.
- Premium Payments: Flexible; it varies according to what the investor chooses.
NPS gives more flexibility and possibly higher returns based on market performance but needs regular contributions too. The PM Mandhan Yojana offers a fixed pension with set premiums—making it more reliable & accessible for unorganised workers.
Frequently Asked Questions (FAQs)
What is the PM Mandhan Yojana?
It’s a pension scheme that provides up to ₹3,000 each month after turning the age of 60 for unorganised sector workers.
How to apply for the PM Mandhan Yojana Scheme?
Just visit the official website or the online application portal for this scheme.
Which documents are required to apply?
You’ll need an Aadhaar card, proof of age, & proof of employment.
Can I apply if I’m over 40?
Unfortunately no, A person must be aged between 18 and 40 years to apply.
How are pension amounts decided?
The plan provides a fixed monthly pension of up to ₹3,000 after age 60.
