ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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disability income insurance
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survivors insurance
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unemployment insurance
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retirement insurance
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Detailed explanation-1: -What is the UIF? The Unemployment Insurance Fund (UIF) gives short-term relief to workers when they become unemployed or are unable to work because of maternity, adoption and parental leave, or illness. It also provides relief to the dependants of a deceased contributor.
Detailed explanation-2: -RGSKY is the one and only traditional unemployment insurance policy in India. In order to get the benefits of the RGSKY scheme, a person must be covered by the ESI Act before employment loss. The policy provides an allowance of 50% of the wage till you get your next job for a maximum of two years.
Detailed explanation-3: -Unemployment insurance payments (benefits) are intended to provide temporary financial assistance to unemployed workers who are unemployed through no fault of their own.
Detailed explanation-4: -Understanding Employment Insurance (EI) Employment insurance offers a wide range of benefits to those who qualify for them. Employers contribute 1.4 times the amount of employee premiums. 2 Since 1990, there has been no government contribution to this fund.