Enter Keyword and Search


CGEGIS Table 2016 – Finmin issued tables of Benefits for the savings fund for the period from 01.01.2016 to 31.12.2016

with 0 Comment
CGEGIS Table 2016 – Finmin issued tables of Benefits for the savings fund for the period from 01.01.2016 to 31.12.2016

No.7(1)/EV/2014
Government of India
Ministry of Finance
Department of Expenditure

New Delhi, Dated the 26th February, 2016

OFFICE MEMORANDUM

Sub: Central Government Employees Group Insurance Scheme-1980 – Tables of Benefits for the savings fund for the period from 01.01.2016 to 31.12.2016

Every year two Table of Benefits are issued by the Ministry of Finance on calendar year basis for the savings fund to the beneficiaries under Central Government Employees Group Insurance Scheme (CGEGIS)-1980. While one Table of Benefits for the savings fund of the scheme is based on a subscription of Rs.10 per month per unit from 1.1.1982 to 31.12.1989 and Rs.15 per month per unit w.e.f. 1.1.1990 onwards, the other Table of Benefits for the savings fund is based on a subscription of Rs.10 per month in respect of the employess who had opted out of the revised rates of subscription w.e.f. 1.1.1990.

2. The two Table of Benefits under CGEGIS-80 for the calendar year 2016, prepared by IRDA, are enclosed. The benefits in the Tables have been worked out on the basis of interest @8.7% per annum (compounded quarterly), as notified by Department of Economic Affairs.

3. While calculating the amount it has been assumed that the subscription has been recovered or will be recovered from the salary of the month in which a member ceases to be in service failing which it should be deducted from accumulated amounts payable.

4. In its application to the employees of Indian Audit and Accounts Department this Office Memorandum issues in consultation with the Comprtroller and Auditor General of India.

sd/-
(Amar Nath Singh)
Deputy Secretary to the Government of India


Authority: www.finmin.nic.in

Click to view the original order

Related Posts...

0 comments:

Post a Comment


Recent Stories...

Disclaimer

90Paisa - Dedicated to Central Government Employees and Pensioners. As and when orders amending the rules are published by the Government, the amendment orders will be published in our blog immediately. Readers are requested to refer to the source link is given at the end of the post. All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. 90paisa accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog. Links to other websites that have been included on this blog are provided for public convenience only. 90paisa is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Recent Posts