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 Andhra
Pradesh State 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
6. 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 8th read above, the Revised Rates of Interest
on the Andhra Pradesh Group Insurance Savings Funds
shall be allowed at 8.7 % per Annum from 01.04.2014
onwards and the Tables are revised and issued for the
Period covering from 01.04.2014 to 31.03.2015. The
Revised Tables of Benefits I, II and III, III (A) to III (U) on
Savings Fund of Andhra Pradesh State Employees Group
Insurance Scheme – 1984 on Cessation of Membership
during the Period from 01.04.2014 to 31.03.2015 are
appended herewith for making Payments under the
Scheme.
7. These Orders and Tables shall come in force
with effect from 01.04.2014.
8. 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, 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 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 shal