Home » » G.O.MS.No.13 Dated: 24-01-2017 - Employees Group Insurance Scheme – 1984 – Revised Rate of Interest on accumulated Savings Fund - Communication of Tables of Benefits for Savings Fund for the Period from 01.01.2016 to 31.12.2016 – Revised Table – Orders

G.O.MS.No.13 Dated: 24-01-2017 - Employees Group Insurance Scheme – 1984 – Revised Rate of Interest on accumulated Savings Fund - Communication of Tables of Benefits for Savings Fund for the Period from 01.01.2016 to 31.12.2016 – Revised Table – Orders

                                    GOVERNMENT OF ANDHRA PRADESH
                                                             ABSTRACT
PUBLIC SERVICES – Employees Welfare Scheme – Andhra Pradesh State Employees Group Insurance Scheme – 1984 – Revised Rate of Interest on accumulated Savings Fund - Communication of Tables of Benefits for Savings Fund for the Period from 01.01.2016 to 31.12.2016 – Revised Table – Orders –Issued.
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                                 FINANCE (ADMN.DI&IF) DEPARTMENT
G.O.MS.No. 13                                                  Dated: 24-01-2017
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) Department,
dated: 06.11.1984.
3. G.O.Ms.No.367, Finance & Planning (FW.Admn.II) Department,
dated: 15.11.1994.
4. G.O.Ms.No.381, Finance & Planning (FW.Admn.II) Department,
dated: 05.12.1994.
5. G.O.Ms.No.382, Finance & Planning (FW.Admn.II) Department,
dt: 05.12.1994.
6. G.O.Ms.No.99, Finance (Admn.II) Department, dated: 06.08.2015.
7. G.O.Ms.No.1638, Finance (HR.V) Department, dated: 27.06.2016.
8. Letter No.02/GIS-I/2016-17, dt: 27.06.2016, 27.07.2016,
30.08.2016, 19.10.2016 and 14.12.2016 of the Director of
Insurance, A.P., Ibrahimpatnam.
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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. According to Para 9 of the reference 1st read above, 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 paisa and Rs. 6.875 paisa 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. In modification of the Para 9 of the Government orders 1st read above, orders were issued vide reference 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.In the reference 5th read above, orders were issued for apportionment of the subscription of each unit Rs. 15/- between Insurance Fund and Savings Fund in the ratio of Rs.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


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