Aadhaar must for small traders to avail NPS benefits | Economic Times

The government has made Aadhaar as mandatory identification proof for small traders, shopkeepers and self-employed persons to avail benefits of its national pension scheme launched for these set of workers in 2019. The labour ministry has launched the self-contributory and voluntary pension scheme for traders, shopkeepers and self- employed persons two years back to provide them with a monthly pension of Rs 3000 after attaining the age of 60 years. Under the scheme the beneficiary between the age group of 18-40 years will contribute a monthly amount ranging from Rs 55 to Rs 200 per month till the age of 60 and the government makes a matching contribution. “The central government hereby notifies that an individual desirous of availing the benefits under the Scheme shall be required to furnish proof of possession of Aadhaar or undergo Aadhaar authentication,” the labour ministry said in a notification.“Any individual desirous of availing the benefits under the Scheme, who does not possess the Aadhaar number or has not yet enrolled for an Aadhaar, shall have to apply for Aadhaar enrolment,” it further said. However, other identity proof documents will remain valid till the Aadhaar is generated. “Provided that till the time Aadhaar is assigned to the individual, benefits under the scheme shall be given to such individuals who furinish Aadhaar enrolment identity document slip or any one of the following documents namely, bank passbook or post office passbook with photo or electoral photo identity card (EPIC) issued by the Election Commission of India or permanent account number (PAN) Card, among others,” it said.The scheme is implemented through the Life Insurance Corporation of India and common service centres under a special purpose vehicle set up for the purpose. The eligible beneficiaries include the shopkeepers or retail traders, self-employed persons, small rice mill owners, oil mill owners, atta chakki owners, workshop or garage owners, commission agents, brokers of real estate, owners of small restaurants, etcThe notification shall come into force in all the states and union territory administrations.