7. These orders and Tables shall come in force with effect from 01-04-2013. 8.. The Sanctioning Authorities / Drawing & Disbursement Officer’s / 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 & 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 and remitted by the sanctioning authority and such Officers are liable for disciplinary action. (2) The Drawing & Disbursement Officer shall recover the correct rate of subscription according to the eligible group of the employees. For any excess / less recovery, the D.D.O. concerned shall be held responsible. (3) The Director of Insurance, Andhra Pradesh, 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 D.D.O. 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 th e Service Registers of the employees under proper attestation every year at the close of March, and a certificate shall be recorded in the Service Book of each employee that subscriptions 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 & 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”. 9. 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. 10. The Director of Insurance, A.P., Hyderabad shall take further necessary action in the matter accordingly. 11. Copy of this order is available on internet and can be accessed at address http: //www..ap.gov.in.goir.. (BY ORDER AND IN THE NAME OF THE GOVERNOR OF ANDHRA PRADESH) Dr. D. SAMBASIVA RAO PRINCIPAL SECRETARY TO GOVERNMETN (FP)
ANNEXURE TABLE – I TABLE SHOWING THE ACCUMULATED SAVINGS OF BENEFITS FROM SAVINGS FUND PER EACH UNIT OF Rs.10/- upto 31-10-1994. No. of completed years from the date of entry into the scheme to the date of 31-10-1994 1 2 3 4 5 6 7 8 9 10 Accumulated Savings as on 31-10-1994 (i.e. the sum of portion of the Savings fund contribution with interest thereon. 86 181 286 402 530 669 822 990 1,179 1,388
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 31-032001 @ 9.5% p.a. from 01-04-2001 to 31-03-2002 and 9%p.a from 01-04-2002 to 31-10-2004 and 8% p.a from 1-11-2004 to 30-11-2011 and 8.6%p.a from 01-12-2011 onwards Compounded Quarterly on cessation of membership from the scheme.
Nov Dec Jan Feb Mar *ACS 86 1994-1995 1995-1996 1996-1997 1997-1998 1998-1999 1999-2000 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011 2011-2012 2012-2013 2013-2014 1 12 24 38 53 71 89 107 126 145 167 188 210 235 261 290 321 354 393 436 2 13 25 39 55 72 91 109 127 147 169 189 212 237 263 292 323 357 397 440 3 14 26 40 56 74 92 110 129 149 170 191 214 239 266 295 326 360 400 444 3 15 27 42 58 76 94 112 131 151 172 193 216 241 268 297 329 363 404 448 4 16 28 43 59 77 96 114 132 152 174 195 218 243 270 300 332 367 407 452 Apr May Jun 5 17 30 44 60 78 97 115 134 154 175 197 220 245 273 302 334 370 411 6 18 31 45 62 80 99 117 135 156 177 199 222 248 275 305 337 373 414 7 19 32 47 63 81 100 118 137 158 179 201 224 250 278 307 340 377 418 Jul Aug Sep Oct 8 20 33 48 65 83 101 120 139 160 181 203 226 252 280 310 343 380 421 9 21 34 49 66 85 103 121 140 161 182 204 228 254 282 313 346 383 425 10 22 35 51 68 86 104 123 142 163 184 206 230 257 285 315 348 387 429 11 23 37 52 69 88 106 124 144 165 186 208 233 259 287 318 351 390 432
A.C.S = Accumulated Cumulative Savings as on 31.10.1994
.*ACS-181 1994-1995 1995-1996 1996-1997 1997-1998 1998-1999 1999-2000 2000-2001 2001-2002 2002-2003 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2 25 51 80 112 149 188 226 265 306 351 395 442 494 549 4 27 53 82 115 152 191 229 268 310 355 399 446 498 554 5 29 55 85 118 156 194 232 271 313 358 403 451 503 559 7 31 58 87 121 159 198 236 275 317 362 406 455 507 564 9 33 60 90 124 162 201 239 278 321 365 410 459 512 569 11 13 35 37 62 65 93 95 127 130 165 168 204 207 242 245 281 285 325 328 369 373 414 418 463 468 516 521 574 579 15 39 67 98 133 171 210 248 288 332 376 422 472 526 584 17 42 70 101 136 175 213 252 292 336 380 426 476 530 589 19 44 72 104 140 178 217 255 295 340 384 430 481 535 594 21 46 75 107 143 181 220 258 299 344 387 434 485 540 599 23 48 77 109 146 184 223 261 303 348 391 438 489 545 604
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