Pradhan Mantri Karam Yogi Maandhan Yojana 2022 [Apply Now]

Pradhan Mantri Karam Yogi Maandhan Yojana 2022 | PM Karam Yogi Maandhan Scheme | Online Application Process | Application Form & Eligibility Criteria

Finance Minister Shri Mati Nirmala Sitharaman announced the implementation of the Pradhan Mantri Karam Yogi Maandhan Yojana during the Union Budget on July 5th, 2022. Small shopkeepers, businessmen, and traders in our country who are registered under GST and have an annual turnover of up to 1.5 crores will be eligible for the Pradhan Mantri Karam Yogi Mandhan Yojana. In today’s article, we will tell you about the PM Karam Yogi Maandhan scheme including eligibility criteria, how to apply and so on.

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About Pradhan Mantri Karam Yogi Maandhan Yojana 2022

The government has designated the Life Insurance Corporation of India (LIC) as a nodal agency for the successful implementation of the scheme. Small businessmen and traders who apply for the PM Karam Yogi Maandhan Yojana must be between the ages of 18 and 40, and after the age of 60, the beneficiary will receive a monthly pension of Rs. 3000. For this, 18-year-olds must pay a monthly minimum premium of Rs 55 and a maximum monthly premium of Rs 200.

Pradhan Mantri Karam Yogi Mandhaan Yojana

The Pradhan Mantri Karam Yogi Maandhan Yojana provides for the direct transfer of pension funds to the beneficiary’s bank account. Only when the beneficiaries’ bank accounts are linked to their Aadhaar cards will this amount be transferred to their accounts. With the pension they receive through this programme, those small business owners and traders who are no longer eligible for income assistance after the age of 60 can live a normal life.

Overview of the PMKY Manandhan Yojana

Scheme Name	PM Karam Yogi Maandhan Yojana
Launched By	PM Narendra Modi
Launch Date	May 31, 2019
Start Enrolment	Available Soon
Beneficiary	Small Traders and Shopkeepers
Profit	Rs 3000 after the age of 60 years
Number of Beneficiaries	Rs 3 crore
Application System	Online
Apply Online Website	3.2 Lakh CSC Centres

Objectives of Pradhan Mantri Karam Yogi Maandhan Yojana

Our country’s small businessmen or small shopkeepers who are unable to run their shops in old age become financially weak and face many difficulties in making a living. After the age of 60, the elderly will receive financial assistance in the form of a monthly pension of Rs 3000 under the Karam Yogi Maandhan Yojana 2022. Small businessmen and traders must be empowered, and senior citizens must be made self-sufficient, through this scheme.

Benefits of the Scheme

Beneficiaries of the PM Karam Yogi Maandhan Yojana must be between the ages of 18 and 40, and after the age of 60, they will receive a monthly pension of Rs. 3000.
This scheme will benefit the country’s small and marginal farmers.
The government is funding 50% of this scheme.
All scheme applications will be accepted only online.
The Central Government will provide the scheme’s benefits after the age of 60.
The Life Insurance Corporation will serve as a nodal agency for the scheme.
The government will direct the bank to transfer the pension amount to the beneficiary’s account on a monthly basis.

Payable Amount under Pradhan Mantri Karam Yogi Maandhan Yojana

Entry Age	Superannuation Age	Member’s Monthly Contribution (Rs)	Central Govt’s Monthly Contribution (Rs)	Total Monthly Contribution (Rs)
(1)	(2)	(3)	(4)	(5) = (3) + (4)
18	60	55	55	110
19	60	58	58	116
20	60	61	61	122
21	60	64	64	128
22	60	68	68	136
23	60	72	72	144
24	60	76	76	152
25	60	80	80	160
26	60	85	85	170
27	60	90	90	180
28	60	95	95	190
29	60	100	100	200
30	60	105	105	210
31	60	110	110	220
32	60	120	120	240
33	60	130	130	260
34	60	140	140	280
35	60	150	150	300
36	60	160	160	320
37	60	170	170	340
38	60	180	180	360
39	60	190	190	380
40	60	200	200	400

Eligibility Criteria for Applying the PM Karam Yogi Maandhan Yojana

The applicants must be between the ages of 18 and 40.
Only business people may apply for this scheme.
Small business owners and traders operating outside of India are ineligible for this yojana.
The annual turnover for independently employed retailers, shop owners, and other traders should not exceed Rs 1.5 crore.

Documents Required for Applying the Scheme

Aadhar Card
The bank Account should be Linked to Aadhaar Card.
GST Registration Number
Passport Size Photo

How to Apply for the Pradhan Mantri Karam Yogi Maandhan Yojana?

Go to your nearest CSC centre to apply for Pradhan Mantri Karma Yogi Maandhan Yojana and request an application. CSC agent will apply for you online under the scheme. Follow the below-given steps to apply online:

Go to your nearest CSC centre.
You must have an Aadhaar card and a bank account with an IFSC code.
Submit all of your documents to the CSC operator, who will fill out the application form for you.
You have to pay the first subscription fee in cash to the operator. The CSC operator will give you a copy of the application form.
Keep this copy safe for future reference.

Frequently Asked Questions

1) What is Karam Yogi Maandhan Yojana?

All small businessmen and traders between the ages of 18 and 40 years old who apply using the PM Karam Yogi Maandhan Yojana can begin depositing funds under the scheme. Following that, the beneficiary will receive a monthly pension of 3000.

2) When was the Pradhan Mantri Karma Yogi Maandhan Yojana recently launched?

On May 31, 2019, Prime Minister Narendra Modi launched the PM Karam Yogi Maandhan Yojana. This scheme was created for the country’s small traders and shopkeepers.

3) What age does the pension of a person begin?

At the age of 58, a member can begin receiving pension benefits after retiring. However, the member must have completed 10 years of service by the time they reach the age of 58.