Telangana State Employees Group Insurance Scheme – 1984 – Tables from 01.04.2015 to 31.03.2016

GOVERNMENT OF TELANGANA

ABSTRACT

PUBLIC SERVICES – Employees Welfare Scheme – Telangana State Employees Group

Insurance Scheme – 1984 – Communication of Tables of Benefits for Savings Fund for the

Period from 01.04.2015 to 31.03.2016 – Revised Tables – Orders – Issued.

FINANCE (ADMN.I) DEPARTMENT

G.O.MS.No. 112 Dated :22.08.2015

Read the following :

1. G.O.Ms.No.293, Finance&Planning (FW. Accts.II) Dept., dated : 08.10.1984.

2. G.O.Ms.No.312, Finance&Planning(FW.Admn.II) Dept., dated : 06.11.1984.

3. G.O.Ms.No.367, Finance&Planning(FW.Admn.II) Dept., dated : 15.11.1994.

4. G.O.Ms.No.381, Finance&Planning(FW.Admn.II) Dept., dated : 05.12.1994.

5. G.O.Ms.No.382, Finance&Planning(FW.Admn.II) Dept., dated : 05.12.1994.

6. G. O. Ms. No. 54, Finance (Admn.II) Department, dated : 06.04.2011.

7. G. O. Rt. No. 2425, Finance (Pen.II) Department, dated : 10.05.2012.

8. G. O. Ms. No. 148, Finance (Admn.II) Department, dated : 06.06.2012.

9. G. O. Rt. No. 2735, Finance (Pen.II) Department, dated : 16.06.2012.

10. Government of India Office Memorandum No. 7(2)EV/2012 Ministry of

Finance Department of Expenditure, dated : 15.01.2013.

11. Dy. Accountant General (Funds) O/o the Principal Accountant General (A &

E), A. P., Hyderabad FM/ GI.II/9-3/2013 – 14/109, dated : 25.04.2013.

12. G. O. Rt. No. 2142, Finance (Pen.II) Department, dated : 30.04.2013.

13. Director of Insurance, Letter No. 2/GIS-I/Tables/2013 – 2014,

dated: 17.04.2013 and 09.05.2013.

14. G. O. Ms. No. 126, Finance (Admn.II) Department, dated : 29.05.2013.

15. Director of Insurance, A.P.Hyderabad Letter No. 2/GIS-I/Tables/2014 –

2015, dated : 01.04.2014

16. G. O. Ms. No. 90, Finance (Admn.II) Department, dated :01.05.2014.

17. Director of Insurance, Telangana, Hyderabad Letter No. 2/GISI/

Tables/2015–2016, dated:23-06-2015.

******

O R D E R :

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. Accordingly to Para 9 of the above Order, the Accumulations of Savings

Fund Part and Insurance Fund Part shall carry Interest at the Rates prescribed by

Government from time to time.

2. In the reference 2nd read above, Orders were issued for apportioning the

Subscription of 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 terms of the Recommendation of the Committee constituted to Review the

working of the Employees Group Insurance Scheme in Government Orders 3rd read

above, orders were issued for Revision of Rate of Subscription each unit from Rs. 10/-

to Rs. 15/- with effect from 01.11.1994. In Modification of the Para 9 of the

Government Orders 1st read above, orders were issued in Government Orders 4th read

above, for fixing the Interest on the Accumulations of the Savings Fund of the Member

of the Scheme for the State as a whole and shall be paid at the Rate of 12 % per Annum

compounded Quarterly with effect from 01.11.1994. Further, in the Government Orders 5th

read above, the Apportionment of the Subscription of each unit Rs. 15/- between Insurance

Fund and Savings Fund was fixed in the Ratio of 4.50/- and Rs. 10.50/- respectively with

effect from 01.11.1994. The Amount of Insurance coverage will be Rs. 15,000/- for each

unit of Subscription.

4. The Rate of Interest on Accumulations of Savings Fund of the Member of the

Scheme and the Interest on the Insurance Fund from time to time is as follows :

Financial Year Rate of Interest Government Order

5. In the reference 14th read above, Government has issued Orders for reducing the

Rate of Interest from 8.8 % to 8.7 % per Annum with effect from 01.04.2014 on the

Provident Funds and other similar Funds i.e., Government Life Insurance Funds maintained

by the Government of Andhra Pradesh on par with Rates of Government of India until

further Orders.

6. In the reference 16th read above, Government has issued Orders revising the rates of

interest on the Group Insurance Savings Fund at 8.7 % per Annum from 01.04.2014

onwards and the Tables were revised and issued for the period covering from 01-04-2014 to

31-03-2015.

7. In view of the above circumstances and after careful examination of the matter,

Government hereby order that in Supersession of the Orders issued in the reference 16th

read above, the Revised Rates of Interest on the Telangana Group Insurance Savings Funds

shall be allowed at 8.7 % per Annum from 01.04.2015 onwards and the Tables are revised

and issued for the Period covering from 01.04.2015 to 31.03.2016. The Revised Tables of

Benefits I, II and III, III (A) to III (U) on Savings Fund of Telangana State Employees

Group Insurance Scheme – 1984 on Cessation of Membership during the Period from

01.04.2015 to 31.03.2016 are appended herewith for making Payments under the Scheme.

8. These Orders and Tables shall come in force with effect from 01.04.2015.

9. The Sanctioning Authorities / Drawing and Disbursement Officers / 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.

(1) 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.

(2) The Drawing and Disbursement Officer shall recover the Correct Rate of

Subscription according to the eligible Group of the Employees. For any

Excess / Less Recovery the Drawing and Disbursement Officer shall be held

responsible.

(3) The Director of Insurance, Telangana, Hyderabad shall conduct a regular

Audit of all Claims paid under Group Insurance Scheme and send a Report to

the Head of the Department concerned.

(4) 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.

(5) Any Excess Payment made, if found during the Audit by the Directorate of

Insurance, the same shall be immediately recovered from the concerned and

remitted through Challan to the concerned Head of Account by the Drawing

and Disbursement Officer and the fact of remittance shall invariably be

communicated to the Directorate of Insurance.

(6) If an Employee’s Subscription is not recovered during his Service Period, the

Total Subscription along with Interest shall be recovered from the Payments

admissible to him.

(7) All the Heads of Offices should take Prompt Action for recording the

necessary Subscription Entries in the Service Registers of the Employees

under proper Attestation every Year at the close of March a Certificate

shall be recorded in the Service Book of each Employee that Subscription to

the Scheme at the Appropriate Rates have been recovered for the Period

from April to March. The Entries shall be attested by the Drawing and

Disbursing Officer.

(8) As per G. O. Ms. No. 910, Finance (Admn.II) Department, dated :

28.10.2002.

“sanctioning authority shall send a copy of Sanction Orders of the

Group Insurance Scheme Payment including calculation slip to the

Directorate of Insurance for verification”.

10. The Director of Insurance is further advised to obtain the Revised Rates of Interest

from the Government of India and submit the Proposals to the Government in advance

every Year so as to issue Orders in time.

11. The Director of Insurance, Telangana, Hyderabad shall take further necessary action

in the matter accordingly.

12. Copy of this Order is available and can be accessed at address

http://www.tg.gov.in.goir.

( BY ORDER AND IN THE NAME OF THE GOVERNOR OF TELANGANA)

K. RAMAKRISHNA RAO

SECRETARY TO GOVERNMENT(FP)

The Principal Accountant General (Audit – I), Andhra Pradesh & Telangana, Hyderabad

(20 Copies).

The Principal Accountant General (Audit – II), Andhra Pradesh & Telangana, Hyderabad

(20 Copies).

The Accountant General (A & E), Andhra Pradesh and Telangana, Hyderabad (By Name).

The Director of Insurance, Telangana, Hyderabad (200 Copies).

The Director of Treasuries and Accounts(FAC), Telangana, Hyderabad.

The Director of State Audit, Telangana, Hyderabad.

The Pay and Accounts Officer(FAC), Telangana, Hyderabad.

The Director of Works Accounts(FAC), Telangana, Hyderabad.

The Principal Secretary to Governor of Telangana, Hyderabad.

The Principal Secretary / Secretary to the Chief Minister and Private Secretaries to Ministers.

All Special Chief Secretaries / Principal Secretaries / Secretaries to Government with a request

to communicate to all concerned.

All Departments of Secretariat.

All Heads of the Departments including Collectors, Superintendents of Police and District

Judges.

The Registrar, High Court, Andhra Pradesh and Telangana, Hyderabad (With a Covering Letter)

The Registrar, Andhra Pradesh Administrative Tribunal, Hyderabad (With a Covering Letter).

The Secretary, Telangana State Public Service Commission, Hyderabad (With a Covering

Letter).

The Chairman, Tribunal for Disciplinary Proceedings, Hyderabad.

All the Joint Directors of Works Projects.

All the District Treasury Officers / All Sub – Treasury Officers.

All the Chief Executive Officers of all Zilla Parishads.

All the District Educational Officers.

All the District Panchayat Officers.

All the Mandal Development Officers.

All the Mandal Educational Officers.

All the Commissioners / Special Officers of the Municipalities / Corporations.

The Registrar, all Universities, Telangana.

All Recognized Service Associations.

The Finance (HRM-V-Pension) Department.

SF / SCs.

//FORWARED BY ORDER //

SECTION OFFICER

ANNEXURE

Tables 2015-2016

TABLE – I

TABLE SHOWING THE ACCUMULATED SAVINGS OF BENEFITS FROM

SAVINGS FUND PER EACH UNIT OF Rs.10/- upto 31-10-1994.

TABLE –II

Table showing the interest payable (Interest only) on the accumulation of Savings fund

as on 31-10-1994 per each unit of Rs.10/- @ 12% p.a. from 1-11-1994 to 31-3-2000 @

11% p.a. from 1-4-2000 to 31-03-2001 @ 9.5% p.a. from 01-04-2001 to 31-03-2002

and 9%p.a from 01-04-2002 to 31-10-2004 ,8% p.a from 1-11-2004 to 30-11-2011,

8.6%p.a from 01-12-2011 to 31-03-2013 and 8.7%p.a from 01-04-2013 onwards

Compounded Quarterly on cessation of membership from the scheme.

TABLE – III

Table showing the benefit i.e. accumulated savings with interest from Savings

Fund on the revised rate of contribution of Rs.15/- p.m. ( Rs.10.50 towards savings fund

for each unit of Rs.15/- p.m.) w.e.f. 1-11-1994 onwards at 12% p.a. from 1-11-1994 to

31-3-2000, @11% p.a. from 01-04-2000 to 31-3-2001 , @ 9.5 % p.a. from 1-4-2001 to 31-

03-2002 and @ 9%p.a from 1-4-2002 to 31-10-2004, 8% p.a from 1-11-2004 to

30-11-2011, 8.6%p.a from 01-12-2011 to 31-03-2013 and 8.7%p.a from 01-04-2013

onwards compounded Quarterly on cessation of membership from the scheme.

The following tables are prepared in continuation to the tables as prescribed in

G.O.Ms. No. 90 Finance (AdmnII) Department dated 01-05-2014.

TABLE-III A