Question : Statement 1: The Unemployment Insurance Scheme provides financial assistance to unemployed individuals in India.
Statement 2: The scheme is funded by contributions from both employers and employees.
Option 1: Both statements are true.
Option 2: Both statements are false.
Option 3: Statement 1 is true, statement 2 is false.
Option 4: Statement 1 is false, statement 2 is true.
Correct Answer: Statement 1 is true, statement 2 is false.
Solution : The correct answer is (c). Statement 1 is true, but statement 2 is false.
The Unemployment Insurance Scheme (UIS) is a government-run program that provides financial assistance to unemployed individuals in India. The UIS is funded by the central government, not by contributions from employers and employees.
The amount of the assistance is $50 \%$ of the individual's previous wage, and it is payable for a maximum period of two years. To be eligible for the UIS, individuals must have been employed for at least 12 months in the previous year. They must also be actively seeking employment.
The UIS is a valuable program that helps to protect unemployed individuals from financial hardship. The program is also a good investment for the government, as it helps to reduce social unrest and improve economic stability.
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