Introduction to Social Security

Social security refers to a set of programs and policies designed to provide financial assistance and support to individuals and families who are facing economic hardship. The primary goal of social security is to ensure that all citizens have access to basic needs such as food, shelter, healthcare, and education.

ESCI

ESCI stands for Employees' State Insurance Corporation. It is a statutory body created under the Employees' State Insurance Act, 1948. The main objective of ESCI is to provide medical and cash benefits to employees and their families in case of sickness, maternity, and employment injury.

EPFO

EPFO stands for Employees' Provident Fund Organization. It is a statutory body created under the Employees' Provident Funds and Miscellaneous Provisions Act, 1952. The main objective of EPFO is to provide retirement benefits to employees in the form of a provident fund, pension, and life insurance.

NPS

NPS stands for National Pension System. It is a voluntary retirement savings scheme launched by the Government of India in 2004. The main objective of NPS is to provide retirement income to individuals who do not have access to a formal pension system.

Atal Pension Scheme

Atal Pension Scheme is a government-sponsored pension scheme launched in 2015. The scheme is aimed at providing a regular income to individuals working in the unorganized sector. The scheme is named after former Prime Minister of India, Atal Bihari Vajpayee.

Conclusion

In conclusion, social security is an important aspect of any welfare state. In India, ESCI, EPFO, NPS, and Atal Pension Scheme are some of the key programs aimed at providing financial support to individuals and families. These programs have helped to reduce poverty and increase the standard of living of millions of people in India.