SOCIAL SECURITY

Presented by
Alwin
Definition :

“Social security is the security that

society furnishes through appropriate
organisation against certain risks to
which its members are exposed. These
risks being sickness, maternity,
invalidity, old age and death. It is the
characteristic of these contingencies
that they impair the ability of the
working man to support himself and his
dependents in health and decency.”
Types Of Security Schemes
:

1)Social Insurance

2) Social Assistance

3) Public service
(i) Social Insurance:
Under social insurance, workers and employers make
periodical contribution to a fund, with or without a
subsidy from the Government.

(ii) Social Assistance:

Includes non-contributory benefits towards the

maintenance of children, mothers, the aged, the disabled
and others like unemployed. With the benefit of Govt.
Social Security in India

Article 41 :
“The state shall within limits of its
economic capacity and development
make effective provision securing the
right to work, to education and to
public assistance in case of
unemployment, old age, sickness ”.
The Workmen’s Compensation Act,
1923:
-In 1923, the Government of India passed the
Workmen’s Compensation Act.

- To pay compensation to workers for accidents.

- Applies to all permanent employees employed

in railways, factories, mines, plantations etc

- The amount of compensation payable depends

upon the nature of injury.
The Employee’s State Insurance Act, 1948:

-To provide medical facilities and unemployment

insurance to industrial workers during their
illness.

- It covers all types of employees—manual,

clerical, supervisory and technical

-It is compulsory and contributory in nature

- Sickness Benefit
- Maternity Benefit
- Medical Benefit
The Maternity Benefits Act, 1961
- Act provides for payment of maternity
benefit to women

- Leave up to 12 weeks

- Full wages are paid during this time

- Additional amount Rs.25

- Should work for 100 days

- Should not be worked in any other establishments

 Group Life Insurance
Plan provides coverage for number of persons
under one contract.

Provided to the employees with one employer.

Provides risk coverage as long as they remain in

the service.

The premium is paid jointly by both employee

and employer
Employees’ Family Pension Scheme,
1971:
- Pension is paid to the widow/children of
the employee who dies while in service.

- Pension is payable to the employee after

his retirement in place of provident fund.

- Can switch over from provident fund to

pension scheme.
Thanks !