Income Compensation Allowance: Who Qualifies and What You Get
If you are self-employed and lose income due to military service or maternity, this allowance provides financial compensation.
This scheme provides financial support to help cover lost earnings for people who work for themselves.
Who it's for
This allowance is specifically for individuals who are self-employed. To qualify, your loss of income must be due to either mandatory military service or maternity.
What you get
You receive compensation designed to make up for the income you lost during the period you were unable to work due to the qualifying reasons mentioned above.
What it costs you
There is no direct fee to apply, but you must go through the process of submitting an application through your local compensation fund.
The catch to know
You cannot wait indefinitely to claim this money. You must submit your application within five years of the event that caused your loss of income.
How to apply
- Identify the specific dates of your military service or maternity period.
- Contact your local compensation fund to request the necessary paperwork.
- Submit your completed application and any required supporting documents to the fund.