Kerala Government’s helping hand for emigrants
Emigrant profit scheme for ensuring a sustainable income for migrant workers of Kerala will commence very soon. Last day the honorable chief minister of Kerala announced in the legislative assembly that emigrant profit scheme will get into work from the 16th of November onwards. The scheme will be providing an amount of 5,546 rupees every month for a deposit of rupees 5 lakhs. On the behalf of this scheme 3 lakhs rupees to 55 lakhs, rupees deposit will be accepted from the emigrants. The deposit will be forwarded to KIFB and it will be used for the infrastructural development of the state.
The emigrants who have come to Kerala after retiring from their jobs or after leaving their jobs abroad can also be part of this scheme. This scheme will provide the profit share only after 3 years of depositing it and once deposited amount can’t be withdrawn or taken a loan from it.
If the deposit amount is 3 lakhs then in the next year it will become three lakh thirty thousand by adding the profit share of the first year. After the death of the depositor, the profit share will be given to their life partner and after the death of life partner, the deposit amount and the dividend of the first three years will be given to the nominee.