GIS Revised Rates of Interest Table upto Mar-2018
Employees Welfare Scheme GIS, Andhra Pradesh State Employees Group Insurance Scheme(GIS) – 1984 – Revised Rate of Interest on Accumulated Savings Fund Communication of Tables of Benefits for Savings Fund for the Period from 01-01-2018 to 31-03- 2018 ,GIS Revised Tables, GIS Maturity Table up to 31st Mar 2018, the revised GIS rates of interest on the Andhra Pradesh Group Insurance Savings(GIS) Funds shall be allowed at 7.6% per annum as per the G.O Rt No .96 Finance (HR -5- Pension,GPF),Dep., dated :24-1-2018 and The Table for GIS subscription and with accumulated interest is issued for the periods covering from 01-01-2018 to 31-03-2018.
GIS Introduced from 01/11/1984
Group Insurance Scheme to the State Government Employees in place of Family Benefit Scheme with effect from 01-11- 1984. The Sanctioning Authorities / Drawing and Disbursement Officer / 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.
Instructions to DDO/ Sanctioning Officers
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.
- The Drawing and Disbursement Officer shall recover the correct rate of subscription according to the eligible group of employees. For any excess /less recovery, the Drawing and Disbursement Officer concerned shall be held responsible.
- The Director of Insurance, Andhra Pradesh, Amaravati ,Ibrahimpatnam shall conduct a regular Audit of all claims paid under Group Insurance Scheme and send a report to the Head of the Department concerned.
- 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.
- 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.
- If an employee’s subscription at any period if not recovered during his Service the total subscription along with interest shall be recovered from the payments admissible to him.
- 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 and 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
GIS Accumulated Table upto Mar-2018
|Accumulated Saving ONE UNIT APS EGIS UP TO March 2018|
GIS Savings Interest Table