Consider the following statements about the Pradhan Mantri Laghu Vyapari Maan-dhan Yojana:

1. The scheme functions under the Ministry of Finance.

2. Life Insurance Corporation is the pension fund manager for the scheme.

3. The scheme is open to all self-employed traders.

Which of the statements given above is/are correct?

The National Pension Scheme for Traders and Self Employed Persons Yojana (Pradhan Mantri Laghu Vyapari Maan-dhan Yojana) is a pension scheme for shopkeepers/ retail traders and self-employed persons for providing monthly minimum assured pension of Rs. 3000/- for the entry age group of 18-40 years. It is a voluntary and contribution based central sector scheme.

Eligibility:

(i) The scheme is open to Laghu Vyaparis, who are self-employed and working as shop owners, retail traders, rice mill owners, oil mill owners, workshop owners, commission agents, brokers of real estate, owners of small hotels, restaurants and other Laghu Vyaparis. The operations of such small traders are generally characterized by family owned establishments, small scale of operations, labour intensive, inadequate financial aid, seasonal in nature and extensive unpaid family labour.

(ii) Age group of 18-40 years

(iii) Laghu Vyapari whose annual turnover does not exceed Rs 1.5 crore, based on self-declaration. Goods and Services Tax Identification Number (GSTIN) is required only for those with turnover above Rs. 40 lakhs.

(iv) Who has a savings bank account in his/her name and Aadhaar number?

(v) The following are not eligible to join the scheme:

• If covered under the National Pension Scheme contributed by the Central Government or the Employees’ State Insurance Scheme under the Employees’ State Insurance Act, 1948 the Employees’ Provident Fund Scheme under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952.

• is an income-tax assessee.

• It functions under the Ministry of Labour and Employment.