The Prime Minister of India, Narendra Modi, has stated numerous times that the country’s prosperity and development will be impossible without the expansion of the business sector. Small and micro business owners require financial assistance from the federal government in order to advance. The Modi administration has already made preparations for this. However, such business owners face financial difficulties as they mature. Individuals who own small and micro companies can secure a pension by contributing to their pension fund, thanks to the introduction of the PM Laghu Vyapari Mandhan Pension Yojana.
PM Laghu Vyapari Mandhan Pension Yojana Eligibility Criteria
- Must be an Indian resident – Only a legal resident of India who meets the other qualifications is eligible to apply for and receive pension benefits.
- Small company owners – The system was created and meant to benefit small business owners, traders, merchants, and small retailers.
- Annual turnover limit – Those stores or business owners with an annual turnover of more than Rs. 1.5 lakhs would be excluded from participating in this initiative.
- Age restrictions – The pension system only accepts applicants who are at least 18 years old and no older than 40 years old.
How to Download the PM Laghu Vyapari Mandhan Pension Application Form –
- Beneficiaries who want to take advantage of the scheme’s benefits must apply through the PM Laghu Vyapari Mandhan Yojana official portal. To get to the home page, they must click on the appropriate link.
- Begin the application process — When you arrive at the official portal, click on the ‘Click here to apply now’ option. You may find it in the upper right corner of the home page. You will be able to complete the application procedure quickly if you follow the necessary instructions.
- Choosing an enrollment type — If you are a first-time applicant, you must choose the appropriate enrollment type. You must select ‘self-enrollment’ and then click on the ‘CSC VLE’ proposal. If the beneficiary is registering on their own, they must select the first choice.
- Use a registered mobile phone number – Proper mobile phone number verification is critical. Applicants will receive an OTP in their registered mobile number if they attempt to generate one. In addition, the cellphone number should be activated for ease of usage. After entering the proper OTP obtained on your cell phone, select the ‘continue’ option.
- Verification procedure – Following mobile registration, verification is required. Applicants must enter information such as email addresses, names, and other personal information in the verification box. After submitting their information, users must input the captcha code in the provided box. Following that, you must click on the box that will produce the OTP.
- OTP verification – The OTP will be sent to the registered mobile number. You will receive it via SMS, and you must enter the OTP in the appropriate section on the application form. However, in order to complete the process, you must click on the ‘continue’ option at the final step.
- Simple access to the scheme dashboard — While filling out the application form, you can return to the previous phase, where the scheme dashboard opens. There are a few alternatives here, one of which being ‘enrollment.’ You will be directed to the enrollment procedure if you select this option.
- Select the appropriate scheme–After clicking on the enrolment option, you must select the appropriate scheme from the drop-down menu that appears. So, from the list, select National Pension Scheme for Traders and Self-Employed Persons Yojana.
- Select the online registration form–After selecting the correct scheme name from the list, the online application form will appear.
- You must now complete the application form with accurate information. If you enter the wrong information, your application form may be denied.
- Application form submission –
- After you have entered the correct information into the form, you must click the ‘submit’ button. The option is available at the bottom of the form. If you correctly fill out the application form, you will be assigned a subscriber ID.