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    Question

    Statement 1: Contributions to the PM-SYM scheme vary

    based on the age at which a worker joins the scheme. Statement 2: The scheme allows for a one-time lump sum payment instead of monthly contributions. Which of the above statements is/are correct?
    A Only Statement 1 is correct Correct Answer Incorrect Answer
    B Only Statement 2 is correct Correct Answer Incorrect Answer
    C Both Statements 1 and 2 are correct Correct Answer Incorrect Answer
    D Neither Statement 1 nor Statement 2 is correct Correct Answer Incorrect Answer
    E Both Statements 1 and 2 are incorrect Correct Answer Incorrect Answer

    Solution

    Statement 1 is correct as the contribution amount under PM-SYM varies depending on the age at which the worker enrolls in the scheme. However, there is no provision for a one-time lump sum payment; contributions are made monthly.

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