Question

Q96. Consider the following statement about the National Social Security Fund:
1. It a support fund for workers of unorganized sector
2. Has been established as per provisions of Unorganized Sector Workers Social Security Act, 2008
3. It used to support social security schemes for various segments of unorganized sector
Which of the above statement(s) is/are correct?

• A. (a) Only 1 and 2
• B. (b) Only 2 and 3
• C. (c) Only 1 and 3
• D. (d) All of the above

Answer 1

The correct option is C (c) Only 1 and 3

National Social Security Fund is a support fund for workers of unorganized sector including weavers, toddy tappers, rickshaw pullers and bidi workers launched by GOI in 2011. It was introduced in Union Budget 2010-11 aimed at recognizing the need for providing social security to the workers In the unorganized sector, and as a follow up to the unorganized Sector Workers Social Security Act, 2008. However, the act does not make a provision for setting up such fund. This Fund will support social security schemes for various segments of unorganized along with social security cover in the form of life and disability insurance, health care and pensions.