Join My whatsapp GroupG.O.MS.No. 156,Dated: 28-09-2018 - Andhra Pradesh State Employees Group Insurance Scheme – 1984 – Revised Rate of Interest (@7.6% p.a)
G.O.MS.No. 156,Dated: 28-09-2018 - Andhra
Pradesh State Employees Group Insurance Scheme – 1984 – Revised Rate of
Interest (@7.6% p.a)
PUBLIC SERVICES – Employees Welfare Scheme – Andhra
Pradesh State Employees Group Insurance Scheme – 1984 – Revised Rate of
Interest (@7.6% p.a) on Accumulated Savings Fund Communication of Tables of
Benefits for Savings Fund for the Period from 01-04-2018 to 30-06-2018 –
Revised Tables – Order–Issued.
ORDER:
In the reference 1st
read above, orders were issued introducing Group Insurance Scheme to the State
Government Employees in place of Family Benefit Scheme with effect from 01-11-
1984 . According to Para 9 of the reference 1st read above, the
accumulations of savings fund part and insurance fund part shall carry interest
for the rated prescribed by Government from time to time.
2. In the reference 2nd read above, orders were issued
for apportioning the subscription the each unit of Rs 10/- between Insurance
fund and Savings fund in the ratio of Rs 3.125 /- and Rs 6.875 /- respectively.
3. In The reference 3rd above orders were issued for
revision of rate of subscription each unit from Rs.10/- to Rs.15/- with effect
from 01-11-1994. The apportionment of the subscription of each unit Rs.15/- between
Insurance Fund and Savings Fund was fixed in the ratio of Rs.4.50/- and
Rs.10.50/- respectively with effect from 01- 11-194. The amount of Insurance
coverage will be Rs.15, 000/- for each unit of subscription.
4. The Sanctioning Authorities / Drawing and Disbursement Officer
/ Treasury Officers / District Audit Officers / Pay and Accounts Officers /
Director of Works Accounts are requested to keep in view of the appended Table
while sanctioning and making the final payments under Group Insurance Scheme
for proper implementation of the Scheme. Further, the following instructions
shall also
•
The Head of the Department / Drawing and Disbursement Officer shall be held
responsible for sanctioning the Group Insurance Scheme final payments. If any
excess Payments are found, the difference amount shall be collected from the
sanctioning authority and such Officers are liable for disciplinary action.
•
The Drawing and Disbursement Officer shall recover the correct rate of
subscription according to the eligible group of employees. For any excess /
less recovery, the Drawing and Disbursement Officer concerned shall be held
responsible.
•
The Director of Insurance, Andhra Pradesh, Amaravati, Ibrahimpatnam shall
conduct a regular Audit of all claims paid under Group Insurance Scheme and
send a report to the Head of the Department concerned.
•
The Head of the Department concerned shall take action against the erring
officials who are responsible for the excess / less recoveries wherever they
are detected.
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