Viswanathan in Calcutta on Thursday. A Telegraph picture

Calcutta, Jan. 22: A pension scheme for 370 million employees of the unorganised sector will be launched tomorrow. The scheme envisages old age pension as well as life insurance and medical cover. This was announced by additional central provident fund commissioner A. Viswanathan at a seminar organised by the CII.

The employees who are covered by the Employees’ Provident Fund scheme and whose salary does not exceed Rs 6,500 per month will come under the purview of this scheme.

According to the scheme, an employee will give Rs 50 and the employer will give a matching amount. The Centre will provide Rs 250 towards the scheme. Each worker and three members of his family will get medical cover up to Rs 30,000 a year through a Universal Health Insurance Scheme. It will also give him a life insurance cover for Rs 1 lakh and an old age pension of Rs 500 per month on attaining 60 years.