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In the reference 1st read above, orders were issued introducing Group Insurance Scheme( GIS ) to the State Government Employees in place of Family Benefit Scheme with effect from 01-11- 1984 .according to Para 9 of the reference 1 st 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.
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 paisa and Rs 6.875 paisa respectively.
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. File No.1690/138/A1/Admn.DI&IF/2016
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 be
scrupulously followed:
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 paisa and Rs 6.875 paisa respectively.
GO.No:51 GIS Revised Intrest Tables from 01-01-18 to 31-03-18
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. File No.1690/138/A1/Admn.DI&IF/2016
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 be
scrupulously followed:
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.
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