AP G.O.Ms.No.3 Dated:26- 01-2018 GIS – 1984 – Revised Rate of Interest on accumulated Savings Fund – Communication of Tables of Benefits for Savings Fund for the Period from 01-07-2017 to 31-12-2017

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 01-07-2017 to 31-12-2017 – Revised Tables – Orders – Issued.
FINANCE (ADMN-III) DEPARTMENT

G.O.Ms.No.3 Dated:26- 01-2018 GIS – 1984 – Revised Rate of Interest on accumulated Savings Fund – Communication of Tables of Benefits for Savings Fund for the Period from 01-07-2017 to 31-12-2017

Read the following:

1. G.O.Ms.No.122, Finance (Admn.DI&IF) Department, dated: 19-07-
2017.

2. DOID-13024/17/2017, dated: 08-12-2017 of Director of Insurance,
A.P. Ibrahimpatnam.

ORDER:

         In the reference 1st read above, revised rates of Interest for 3rd& 4th Quarters
of the calendar year 2017 i.e. 01-07-2017 to 31-12-2017 on the Andhra Pradesh
Group Insurance Savings Funds have been issued.’

2. In the reference 2nd read above, the Director of Insurance while enclosing the revised tables of the Group Insurance Scheme @ 7.8% for third & fourth Quarters of the Calendar Year 2017 has requested to approve the same and issue instructions that has to be followed scrupulously as detailed below:

⏩ The Sanctioning Authorities / Drawing and Disbursing 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.

⏩ The Head of the Department / Drawing and Disbursing 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 Disbursing Officer shall recover the correct rate of
subscription according to the eligible group of the employees. For any
excess / less recovery, the Drawing and Disbursing Officer concerned shall
be held responsible.

⏩ 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 Disbursing Officer and the fact of remittance shall invariably
be communicated to the Directorate of Insurance.

⏩ If an employee’s subscription is not recovered during his / her Service
Period, the total subscription along with interest shall be recovered from
the payments admissible to them.

PTO…

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