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Statement 1 is correct: The Employees' State Insurance Corporation (ESIC) has approved a new scheme- Atal Bimit Vyakti Kalyan Yojna for Insured Persons covered under the Employees' State Insurance Act, 1948.This scheme is a relief payable in cash directly to their Bank Account in case of unemployment and while they search for new engagement. Statement 2 is correct: The beneficiaries of the scheme will be insured persons covered under Employees' State Insurance Act, 1948 for period of two years continuously. The ESIC also approved the proposal for increasing the funeral expenses from existing 10 thousand rupees to 15 thousand rupees being paid on the death of Insured Person
     
 
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