GIS Savings-Revised Tables GO.MS.No. 99, Dt. 06.08.2015

GO.MS.No. 99,  Dt. 06.08.2015  GIS Savings-Revised Tables from 1-4-2014 to 31-03-2016

Andhrapradesh State Government has issued a G.O. Ms. No.99 Finance (Admn . II) Department  on 06.08.2015 about 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 01.04.2014 to 31.03.2016 – Revised Tables

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
11 /1984 To 10 /1994	10 %	G.O.Ms.No 293, Finance & Planning (FW. Accts.II) Department, dated : 08.10.1984
11 / 1994 To 03 / 2000	12 %	G. O. Ms. No. 381,Finance & Planning (FW.Admn.II) Department, dated : 05.12.1994
01.04.2000 To 31.03.2001	11 %	G. O. Ms. No. 63, Finance & Planning (FW.Pen.II) Department, dated : 06.06.2000
01.04.2001 To 31.03.2002	9.5 %	G. O. Ms. No. 345, Finance & Planning (FW.Pen.II) Department, dated : 07.07.2001
01.04.2002 To 31.10.2004	9 %	G. O. Ms. No. 703, Finance & Planning (FW.Pen.II) Department, dated : 19.07.2002
01.11.2004 To 30.11.2011	8 %	G. O. Ms. No. 625, Finance & Planning (FW.Pen.II) Department, dated : 02.09.2004
01.12.2011 To 31.03.2012	8.6 %	G. O. Rt. No. 2425, Finance (Pen.II) Department, dated: 10.05.2012
01.04.2012 To 31.03.2013	8.8 %	G. O. Rt. No. 2735, Finance (Pen.II) Department, dated: 16.06.2012
01.04.2013 To 31.03.2014	8.7 %	G. O. Rt. No. 2142, Finance (Pen.II) Department, dated 30.04.2013
01.04.2014 To 31.03.2016	8.7%	G.O. Ms. No. 90, Finance (Admn-II) Department, dt: 01-05-14

These orders and Tables shall come in force with effect from01.04.2015.

The Sanctioning Authorities / Drawing and Disbursement Officers /Treasury Officers/ District Audit Officers / Pay and Accounts Officers /Director of Works Accounts arerequested to keep in view of the appended Table while sanctioning and making the finalpayments under Group Insurance Scheme for proper imple- menttation 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 concerned shall be heldresponsible.

3. The Director of Insurance (FAC), 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 becommunicated to the Directorate of Insurance.

6. If an employee’s subscription is not recovered during his Service Period,

thetotal subscription along with interest shall be recovered from the payments admissible to him.

To comple GO.and tables  CLICK HERE