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Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.10.2020 to 31.12.2020

admin — Thu, 03 Dec 2020 16:37:25 +0000

Central Government Employees Group Insurance Scheme

No. 7(2)/ EN / 2016
Government of India
Ministry of Finance
Department of Expenditure

New Delhi, the 27 November, 2020

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.10.2020 to 31.12.2020.

The Tables of Benefits for Savings Fund to the beneficiaries under the Central Government Employees Group Insurance Scheme-1980, which are being issued on a quarterly basis from 01.01.2017 onwards, as brought out in this Ministry’s OM of even number dated 17.03.2017, for the quarter from 01.10.2020 to 31.12.2020, as worked out by IRDA based on the interest rate of 7.1% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No. 5(2)-B(PD)/2020 dated 27.10.2020, are enclosed.

CGEGIS 1980 of Benefits for the savings fund for the period from 1st July to 30th September, 2020

2. The Tables enclosed are of two categories as per the existing practice. As hitherto, the first Table of Benefits for the savings fund of the scheme is based on the subscription of Rs.10 p.m. from 1.1.1982 to 31.12.1989 and Rs.15 p.m. w.e.f. 1.1.1990 onwards. The second Table of Benefits for savings fund is based on a subscription of Rs.10 p.m. for those employees who had opted out of the revised rate of subscription w.e.f. 1.1.1990.

3. While these orders are in respect of Table of Benefits for the period from 01.10.2020 to 31.12.2020, the Tables already issued for the first quarter i.e. from 01.01.2020 to 31.03.2020, second quarter i.e. from 01.04.2020 to 30.06.2020 and 3rd quarter i.e. 01.07.2020 to 30.09.2020 are also reproduced for the sake of convenience and consolidation.

4. In their application to the employees belonging to Indian Audit and Accounts Department, these orders are issued under Article 148(5) of the Constitution and after consultation with the Comptroller & Auditor General of India.

5. Hindi version of these orders is attached.

(B. K. Manthan)
Deputy Secretary to the Government of India

Source: DoE

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Central Government Employees Group Insurance Scheme 1980 – Tables of Benefits for the savings fund for the period from 1st July to 30th September, 2020

admin — Thu, 03 Sep 2020 03:53:49 +0000

Central Government Employees Group Insurance Scheme

No. 7(2)/EV/2016
Government of India
Ministry of Finance
Department of Expenditure

New Delhi, the 19th August, 2020

OFFICE MEMORANDUM

Sub : Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.07.2020 to 30.09.2020.

The Tables of Benefits for Savings Fund to the beneficiaries under the Central Government Employees Group Insurance Scheme-1980, which are being issued on a quarterly basis from 01.01.2017 onwards, as brought out in this Ministry’s OM of even number dated 17.03.2017, for the quarter from 01.07.2020 to 30.09.2020, as worked out by IRDA based on the interest rate of 7.1% per annum (compounded quarterly) as notified by the Department of Economic Affairs as per their Resolution No. 5(2)-B(PD)/2020 dated 13.07.2020, are enclosed.

3. While these orders are in respect of Table of Benefits for the period from 01.07.2020 to 30.09.2020, the Tables already issued for the first quarter i.e from 01.01.2020 to 31.03.2020 and second quarter i.e from 01.04.2020 to 30.06.2020 are also reproduced for the sake of convenience and consolidation.

Hindi version of these orders is attached.

(Amar Nath Singh)
Director

The first Table of Benefits for the savings fund of the scheme is based on the subscription of Rs.10 p.m. from 01.01.1982 to 31.12.1989 and Rs.15 p.m. w.e.f. 01.01.1990 onwards

The second Table of Benefits for savings fund is based on a subscription of Rs.10 p.m. for those employees who had opted out of the revised rate of subscription w.e.f. 01.01.1990.

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Table for the Year 2012/2013- Group Insurance Scheme-1984

admin — Mon, 24 Dec 2012 17:20:29 +0000

Table for the Year 2012/2013- Group Insurance Scheme-1984

GIS Notification/Table for Year, 2012-13

Government of Himachal Pradesh.
Finance Department “General”

No-Fin-Com.B(10)1/86-I

Dated- 30-11-2012.

NOTIFICATION

In continuation to Finance Department’s Notification of even number dated-14-06-2012, the Governor of Himachal Pradesh is pleased to declare the rate of interest 8.6% per annum (Compounded quarterly) w.e.f. 01-04-2012 on the balances of savings fund under H.P.Govt. Employees Group Insurance Scheme-1984.

2. Owing to certain inadvertent errors in the above tables, the revised and corrected tables are circulated a fresh. The earlier tables circulated with the Notification under reference may please be treated as cancelled and are hereby withdrawn.

3. New table of benefits for the savings fund of the Scheme based on a subscription of Rs.10/- per month from 01-04-1985 and 15/- per month w. e .f 01-04-1990 onwards have been prepared for the year 2012-2013 and a copy of table is enclosed. Another table of benefits for the saving funds based on a subscription of Rs.10/- per month for those employees who had opted out of the revised rate of subscription w.e.f 01-04-1990 have also been drawn up for the year 2012-2013 and a copy of table is also enclosed. The amounts indicated in the tables have been worked out on the basis of following
rate of interest per annum( compounded quarterly):-

01-04-1985 to 31-03-1987 @ 11 %
01-04-1987 to 31-03-2001 @ 12 %
01-04-2001 to 31-03-2002 @ 11 %
01-04-2002 to 31-03-2003 @ 9.5 %
01-04-2003 to 31-03-2004 @ 9.00 %
01-04-2004 to 31-03-2012 @ 8 %
01-04-2012 to 31-03-2013 @ 8.6 %

4. While calculating the amount it has been assumed that full subscription has been recovered or will be recovered from the salary for the month in which he ceases to be in service, failing which should be deducted from the accumulated amounts payable.
The payment already made on the basis of earlier tables may be revised in accordance with the revised and corrected tables. Excess payment made, if any, may be
recovered.

By order
Principal Secretary(Finance)to the
Government of Himachal Pradesh.

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Approval of Group Term Insurance Plan issued by M/s Shriram Life Insurance Company Limited for issuance in lieu of the Employees’ Deposit Linked Insurance Scheme, 1976

admin — Mon, 22 Oct 2012 18:22:41 +0000

Approval of Group Term Insurance Plan issued by M/s Shriram Life Insurance Company Limited for issuance in lieu of the Employees’ Deposit Linked Insurance Scheme, 1976

Employees’ Provident Fund Organisation

(Ministry of Labour, Govt. Of India)

Bhavlshya Nidhi ßhawan, 14- Bhikaji Cama Place, New Delhi-110066

www.epfindia.gov.in : ww.epfindia.nic.in

No. C-111/16/1(154)EDLI/Exmpt/HQ/22236

Date: 19.10.2012

All Addl. Central PF Commissioners (Zones),

All Regional PF Commissioners (OIC ROs/SROs)

Subject : Approval of Group Term Insurance Plan issued by M/s Shriram Life Insurance Company Limited for issuance in lieu of the Employees’ Deposit Linked Insurance Scheme, 1976.

Sir,

The Central Board of Trustees, in its 157th meeting had approved the proposal for allowing Insurance Companies In Private sector coming under the regulatory control of IRDA to offer the Group Insurance Scheme conferring similar or better benefits than the Employees’ Deposit-Linked Insurance Scheme, 1976 for the purpose of grant of exemption from the Employees’ Deposit-Linked Insurance Scheme, 1976.

2. M/s Shriram life Insurance Company Limited, has approached the Employees’ Provident Fund Organisation for approval of the Group Term Insurance Plan offered by them for issuance in lieu of Employees’ Deposit-Linked Insurance Scheme, 1976. The salient features of their policy are as under:

(i) The Policy is arranged to provide Assurance benefits to the employees with a minimum of Rs. 1,32,000 as the product minimum is Rs. 1,32,000.

(ii) All members of the Employees’ Provident Funds Scheme, 1952 in the company will be eligible to be members of this policy. The member becomes eligible for the coverage as soon as he/she becomes the member of the Employees’ Provident Funds Scheme, 1952.

(iii) No member shall with draw from the Scheme so long as he satisfies the conditions of eligibility described above.

(iv) The employer (policy holder) will give an undertaking to the effect that all new members have been included from the date of their joining. If a death claim is received in respect of a member whose premium and/or name is not submitted to Shriram Life Insurance, the employer undertakes to provide the benefits for the same.

(v) “the Beneficiary” shall mean the person or persons who has/have been nominated by the Member/s as beneficiary/beneficiaries and will be the same as envisaged under the Employees’ Deposit-Linked Insurance Scheme, 1976.

3. On a careful examination of the proposal submitted by M/s Shriram Life Insurance Company Limited, it has been found that benefits conferred by their policy ¡s better than the benefits under the Employees’ Deposit-Linked Insurance Scheme, 1976. Therefore, those employers who opt for their policy mentioned above to cover their employees shall befor grant of relaxation/exemption from Employees’ Deposit-Linked Insurance Scheme. 1976.

4. Regional Provident Fund Commissioners may, therefore, forward the proposal for-exemption under Employees’ Deposit-Linked Insurance Scheme, 1976 wherever the employer has opted for Group Term Insurance Plan of M/S Shriram Life Insurance Company Limited. However, while forwarding the proposal as per the guidelines issued by Headquarters’ Circular No. EDLI/C-I/Sc/Notificatlon/02/General Circular dated 10/11th September 2002, a certificate on the following points may also be enclosed:

(a) That the policy was valid on the date when application of exemption from Employees’ Deposit-Linked Insurance Scheme, 1976 was made.

(b) That the employer has enrolled all eligible members and has also given an undertaking to that effect.

(c) That the insurance benefits under no circumstances shall be less than what would otherwise have been admissible to the beneficiary under Employees’ Deposit-Linked Insurance Scheme, 1976.

(d) That the certificate of IRDA permitting M/s Shriram Life Insurance Company Limited to transact in Life Insurance business was valid at the time application for exemption from the provisions of Employees’ Deposit Linked Insurance Scheme, 1976 was made.

Enclosures : As above.

Yours Faithfully,

sd/-

(P.K.UDGATTA)

Addl. Central Provident Fund Commissioner (Compliance)

Source: www.epfindia.com

[http://www.epfindia.com/Circulars/Y2012-13/C3_22236.pdf]

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Central Government Employees Group Insurance Scheme

admin — Tue, 19 Jun 2012 04:17:15 +0000

CGEGIS Table 2012 – Tables of Benefits for the savings fund for the period from 01.01.2012 to 31.12.2012 – Finmin order

No.7(1)/EV/2012
Government of India
Ministry of Finance
Department of Expenditure

New Delhi the 9th May, 2012

CORRIGENDUM

Sub: Central Government Employees Group Insurance Scheme-1980 —Tables of Benefits for the savings fund for the period from 01.01.2012 to 31.12.2012.

The undersigned is directed to refer to this Department’s Office Memorandum of even no. dated 24th April, 2012, forwarding therewith the Tables of Benefits for the savings fund of the Scheme for the year 2012 based on a subscription of Rs.10 per month from 1.1.1982 to 31.12.1989 and Rs.15 per month w.e.f. 1.1.1990 onwards and table of benefits based on a subscription of Rs.10/- p.m throughout.

2. Owing to certain inadvertent error in the above tables, the revised and corrected tables are circulated afresh. The earlier tables circulated with the 0M under reference may please be treated as cancelled and are hereby withdrawn.

3. The payments already made on the basis of earlier tables may be revised in accordance with the revised and corrected tables. Excess payment made, if any, may be recovered.

sd/-
(SIDDHARTH SHARMA)
DIRECTOR

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