AP Staff GIS Curiosity Charges 2023 for Group Insurance coverage Scheme. AP State Staff GIS new rates of interest. AP GIS New rates of interest, Andhra Pradesh State Staff Group Insurance coverage Scheme New Rates of interest, AP Staff GIS New rates of interest.
Authorities has given an order that the Revised Charges of Curiosity on the Andhra Pradesh Group Insurance coverage Financial savings Funds shall be allowed at 8.7 % per Annum from 01.04.2014 onwards and the Tables are revised and issued for the Interval overlaying from 01.01.2016 to 31.12.2016.
The Revised Tables of Advantages I, II and III, III (A) to III (U) on Financial savings Fund of Andhra Pradesh State Staff Group Insurance coverage Scheme – 1984 on Cessation of Membership through the interval from 01.01.2016 to 31.12.2016 are appended herewith for making Funds underneath the Scheme.
GOVERNMENT OF ANDHRA PRADESH: PUBLIC SERVICES – Staff Welfare Scheme – Andhra Pradesh State Staff Group Insurance coverage Scheme – 1984 – Revised Price of Curiosity on collected Financial savings Fund – Communication of Tables of Advantages for Financial savings Fund for the interval from 01.01.2016 to 31.12.2016 – Revised Desk – Orders – Issued. AP Staff GIS Group Insurance coverage Scheme New Curiosity Charges
| Ttle | AP Staff GIS Charges |
| Class | Govt Order |
| Identify of the Division | FINANCE (ADMN.DI&IF) DEPARTMENT |
| State | Andhra Pradesh |
| GO.No | GO MS.No.13 |
| Date | Dated: 24-01-2017 |
| Topic | AP Staff GIS Group Insurance coverage Scheme New Curiosity Charges |
FINANCE (ADMN.DI&IF) DEPARTMENT; G.O.MS.No. 13 Dated: 24-01-2017
Learn the next:-
1. G.O.Ms.No.293, Finance & Planning (FW.Accts.II) Dept., dated:
08.10.1984.
2. G.O.Ms.No.312, Finance & Planning (FW.Admn.II) Division, dated: 06.11.1984.
3. G.O.Ms.No.367, Finance & Planning (FW.Admn.II) Division, dated: 15.11.1994.
4. G.O.Ms.No.381, Finance & Planning (FW.Admn.II) Division, dated: 05.12.1994.
5. G.O.Ms.No.382, Finance & Planning (FW.Admn.II) Division,
Dt: 05.12.1994.
6. G.O.Ms.No.99, Finance (Admn.II) Division, dated: 06.08.2015.
7. G.O.Ms.No.1638, Finance (HR.V) Division, dated: 27.06.2016.
8. Letter No.02/GIS-I/2016-17, Dt: 27.06.2016, 27.07.2016, 30.08.2016, 19.10.2016 and 14.12.2016 of the Director of Insurance coverage, A.P., Ibrahimpatnam.
ORDER: Within the reference 1st learn above, orders have been issued introducing Group Insurance coverage Scheme to the State Authorities Staff rather than Household Profit Scheme with impact from 01.11.1984. Based on Para 9 of the reference 1st learn above, the accumulations of Financial savings Fund half and Insurance coverage Fund half shall carry curiosity on the charges prescribed by Authorities on occasion. AP Staff GIS Group Insurance coverage Scheme New Curiosity Charges
Within the reference 2nd learn above, orders have been issued for apportioning the subscription of every unit of Rs. 10/- between Insurance coverage Fund and Financial savings Fund within the ratio of Rs. 3.125 paisa and Rs. 6.875 paisa respectively.
Within the reference third above, orders have been issued for revision of fee of subscription every unit from Rs. 10/- to Rs. 15/- with impact from 01.11.1994. In a modification of the Para 9 of the Authorities orders, 1st learn above, orders have been issued vide reference 4th learn above, for fixing the curiosity on the accumulations of the Financial savings Fund of the Member of the Scheme for the State as a complete and shall be paid on the fee of 12 % each year compounded Quarterly with impact from 01.11.1994.
Within the reference fifth learn above, orders have been issued for apportionment of the subscription of every unit Rs. 15/- between Insurance coverage Fund and Financial savings Fund within the ratio of Rs.4.50/- and Rs. 10.50/- respectively with impact from 01.11.1994. The quantity of Insurance coverage protection shall be Rs. 15,000/- for every unit of subscription.
- The speed of curiosity on accumulations of Financial savings Fund of the Member of the Scheme and the curiosity on the Insurance coverage Fund on occasion is as follows:-
| Monetary Yr |
Price of Curiosity |
Authorities Order |
| 11/1984 to 10/1994 |
10% | G.O.Ms.No.293, Finance & Planning (FW.Accts.II) Division, dated: 08-10-1984. |
| 11/1994 to 03/2000 |
12% | G.O.Ms.No.381, Finance & Planning (FW.Admn.II) Division, dated: 05-12-1994 |
| 01-04-2000 to 31-03-2001 |
11% | G.O.Ms.No.63, Finance & Planning (FW.Pen.II) Division, dated: 06-06-2000 |
| 01-04-2001 to 31-03-2002 |
9.5% | G.O.Ms.No.345, Finance & Planning (FW.Pen.II) Division, dated: 07-07-2001 |
| 01-04-2002 to 31-03-2004 |
9% | G.O.Ms.No.703, Finance & Planning (FW.Pen.II) Division, dated: 19-07-2002 |
| 01-04-2004 to 31-11-2011 |
8% | G.O.Ms.No.625, Finance & Planning (FW.Pen.II) Division, dated: 02-09-2004 |
| 01-12-2011 to 31-03-2012 |
8.6% | G.O.Ms.No.2425, Finance (FW.Pen.II) Division, dated: 10-05-2012 |
| 01-04-2012 to 31-03-2013 |
8.8% | G.O.Ms.No.2735, Finance (FW.Pen.II) Division, dated: 16-06-2012 |
| 01-04-2013 to 31-03-2016 |
8.7% | G.O.Ms.No.2142, Finance (FW.Pen.II) Division, dated: 30-04-2013 |
| 01-04-2016 to 31-12-2016 |
8.1/- | G.O.Rt.No.1638, Finance(HR.5 Pen.GPF) deptt dated 27- 06-2016 |
Within the reference seventh learn above, Authorities has issued orders to scale back the speed of curiosity from 8.7% to eight.1% each year on the Provident Funds and different comparable Funds i.e. Andhra Pradesh Authorities Life Insurance coverage Funds maintained by the Authorities of Andhra Pradesh on par with charges of Authorities of India till additional orders.
In view of the above circumstances and after cautious examination of the matter, Authorities hereby orders that the revised charges of curiosity on the Andhra Pradesh Group Insurance coverage Financial savings Funds shall be allowed at 8.1% each year from 01.04.2016 onwards.
The Desk is revised and issued for the intervals overlaying from 01.01.2016 to 31.12.2016 to maintain in alignment with the calendar yr as was completed by the Authorities of India. (The revised Desk is appended to the GO together with illustrations Sheet).
This simplified Desk is relevant to those that are retired /deceased from 01-01-2016 to 31-12-2016 i.e. the calendar Yr 2016 solely. The staff who have been retired/died on or earlier than 31-12-2015 outdated tables are relevant.
All of the HOD’s DDO’s are requested to observe the below-mentioned directions scrupulously to make sure correct implementation of the Scheme:-
The Sanctioning Authorities/Drawing and Disbursement Officers / Treasury Officers/ District Audit Officers / Pay and Accounts Officers / Director of Works Accounts are requested to maintain in view of the appended Desk whereas sanctioning and making the ultimate funds underneath Group Insurance coverage Scheme.
The Head of the Division / Drawing and Disbursement Officer shall be held answerable for sanctioning the Group Insurance coverage Scheme remaining funds. If any extra funds are discovered, the distinction quantity shall be collected from the sanctioning authority and such Officers are answerable for disciplinary motion.
The Drawing and Disbursement Officer shall get better the proper fee of subscription in response to the eligible group of the workers. For any extra / much less restoration, the Drawing and Disbursement Officer involved shall be held accountable.
The Head of the Division involved shall take motion in opposition to the erring officers who’re answerable for the surplus / much less recoveries wherever they’re detected.
Any extra fee made, if discovered through the Audit by the Directorate of Insurance coverage, the identical shall be instantly recovered from the involved and remitted by Challan to the involved Head of Account by the Drawing and Disbursement Officer and the actual fact of remittance shall invariably be communicated to the Directorate of Insurance coverage.
If an worker’s subscription is just not recovered throughout his/her Service Interval, the whole subscription together with curiosity shall be recovered from the funds admissible to them.
All of the Heads of Places of work ought to take immediate motion for recording the required subscription entries within the Service Registers of the workers underneath correct attestation yearly and a certificates shall be recorded within the Service Ebook of every worker that subscription to the Scheme on the acceptable charges have been recovered. The entries shall be attested by the Drawing and Disbursing Officer.
As per G. O. Ms. No. 910, Finance (Admn.II) Division, dated: 28.10.2002. “Sanctioning authority shall ship a duplicate of sanction orders of the Group Insurance coverage Scheme Fee together with calculation slip to the Directorate of Insurance coverage for verification”.
The Director of Insurance coverage, Andhra Pradesh, Amaravati, Ibrahimpatnam shall conduct an everyday Audit of all claims paid underneath Group Insurance coverage Scheme and ship a report back to the Head of the Division involved. He’s additionally suggested to coordinate with all departments for the right implementation of the scheme
The values are collected saving fund+quarterly compounded curiosity per one unit up the month of cessation in 2016 from the yr of beginning the unit. The unit change from Rs.10 to Rs.15 is taken under consideration.
The yr of including a number of extra items is to be taken because the yr of beginning for such extra items and accordingly the worth within the month of cessation to be multiplied by a variety of such extra items to reach the collected saving fund of extra items. (Consult with Illustrations hooked up under)
ILLUSTRATION-1
| Worker retires in Aug 2016 service particulars |
Calculation of complete advantages underneath GIS saving |
No. of Models |
|
| From 11/1984 to 10/1989.Rs.10 per thirty days(one unit) |
One unit from 11/1984 as much as Aug 2016 =1×18,987.87 |
1 | 18,987.87 |
| From 11/1989 to 10/1994 Rs. 20 per thirty days (two items) |
One additional unit from 11/1989 as much as Aug 2016 =1×12,325.13 |
1 | 12,325.13 |
| From11/1994 to10/2006 Rs.30 per thirty days (2 items) |
No additional items ———– |
Nil | |
| From11/2006 to 8/2016 Rs.60 per thirty days(4 items) |
Two additional items from 11/2006 up to Aug 2016 =2×1916.18 |
2 | 3,832.36 |
| TOTAL No of GIS Models and BENEFIT TO THE EMPLOYEE = |
4 | 35,145.36 |
Observe: In case of dying of the worker on Aug 2016 then Rs.60000+35,145.36=95,145.36/-
ILLUSTRATION-2
| Worker retires in Oct 2016 service particulars | Calculation of complete advantages underneath GIS saving |
No. of Models |
|
| From 11/1986 to 10/1994 Rs.20 per thirty days(2 items) |
2 items from 11/1986 as much as Oct 2016 =2×16,158.03 |
2 | 32,316.06 |
| From 11/1994 to 10/2004 Rs. 30 per thirty days (two items) |
No additional items | Nil | |
| From11/2004 to10/2013 Rs.60 per thirty days (4 items) |
2 additional items from 11/2004 to 10/2016 =2×2582.79 |
2 | 5165.58 |
| From11/2013 to 10/2016 Rs.120 per thirty days(8 items) |
4 additional items from 11/2013 as much as Oct 2016 =4×428.43 |
4 | 1713.72 |
| TOTAL No of GIS Models and BENEFIT TO THE EMPLOYEE = |
8 | 39,195.36 |
ILLUSTRATION-3
| Worker retires in Oct 2016 service particulars | Calculation of complete advantages underneath GIS saving |
No. of Models | |
| From 11/1986 to 10/1994 Rs.80 per thirty days(8 items) |
8 items from 11/1986 as much as Oct 2016 =8×16,158.03 |
8 | 1,54,108.88 |
| From 11/1994 to 10/2016 Rs. 120 per thirty days (8 items) |
No additional items | ||
| Whole no of GIS items and BENEFIT TO THE EMPLOYEE = | 8 | 1,54,108.88 |
AP Employees GIS new interest rates
GO.MS.No. 99; Dated: 06-08-2015: GOVERNMENT OF ANDHRA PRADESH – FINANCE (ADMN.II) DEPARTMENT -PUBLIC SERVICES – Staff Welfare Scheme – Andhra Pradesh State Staff Group Insurance coverage Scheme – 1984 – Revised Price of Curiosity on collected Financial savings Fund Communication of Tables of Advantages for Financial savings Fund for the interval from 01.04.2015 to 31.03.2016 -Revised Tables -Orders -Issued
Reference:
1. GO.Ms.No. 293, Finance & Planning (FW. Accts.II) Dept., dated: 08.10.1984.
2. GO.Ms.No. 312, Finance & Planning (FW.Admn.II) Dept., dated: 06.11.1984.
3. GO.Ms.No. 367, Finance & Planning (FW.Admn.II) Dept., dated: 15.11.1994.
4. GO.Ms.No. 381, Finance & Planning (FW.Admn.II) Dept., dated: 05.12.1994.
5. GO.Ms.No. 382, Finance & Planning (FW.Admn.II) Dept., dated: 05.12.1994.
6. GO.Ms.No. 54, Finance (Admn.II) Division, dated: 06.04.2011.
7. GO.Rt.No. 2425, Finance (Pen.II) Division, dated: 10.05.2012.
8. GO.Ms.No. 148, Finance (Admn.II) Division, dated: 06.06.2012.
9. GO.Rt.No. 2735, Finance (Pen.II) Division, date: 16.06.2012.
10. Authorities of India Workplace Memorandum No. 7(2)EV/2012 Ministry of FinanceDepartment of Expenditure, dated: 15.01.2013.
11. Dy.Accountant Basic (Funds) O/O the Principal Accountant Basic (A & E), A. P., Hyderabad FM/ GI.II/9-3/2013 – 14/109, dated: 25.04.2013.
12. GO.Rt.No. 2142, Finance (Pen.II) Division, dated: 30.04.2013.
13. Director of Insurance coverage, Letter No. 2/GIS-I/Tables/2013 – 2014, dated: 17.04.2013 and 09.05.2013.
14. GO.Ms.No. 126, Finance (Admn.II) Division, dated: 29.05.2013.
15. Director of Insurance coverage, Letter No. 2/GIS-I/Tables/2014 – 2015, dated: 01.04.2014
16. GO.Ms.No. 90, Finance (Admn-II) Division, Dt: 01-05-14
17. No.07 (1) E/014, dated: 22-01-2015 of the Director, Authorities of India, Ministry of Finance, Division of Expenditure, New Delhi.
18. Lr.No.02/GIS-I/Tables/2015-16, Dt: 24-06-2015 of the Directorate of Insurance coverage, A.P. Hyderabad.
ORDER: Within the reference 1st learn above orders have been issued introducing Group Insurance coverage Scheme to the State Authorities Staff rather than Household Profit Scheme with impact from 01.11.1984. Based on Para 9 of the reference 1st learn above, the accumulations of Financial savings Fund half and Insurance coverage Fund half shall carry curiosity on the charges prescribed by Authorities on occasion.
2. Within the reference 2nd learn above, orders have been issued for apportioning the subscription of every unit of Rs. 10/- between Insurance coverage Fund and Financial savings Fund within the ratio of Rs. 3.125/-and Rs. 6.875/- respectively.
3. When it comes to the advice of the Committee constituted to overview the working of the Andhra Pradesh State Staff Group Insurance coverage Scheme in Authorities orders third above orders have been issued for revision of fee of subscription every unit from Rs. 10/- to Rs. 15/- with impact from 01.11.1994. In a modification of the Para 9 of the Authorities orders 1stread above, orders have been issued in Authorities orders 4thread above,
For fixing the curiosity on the accumulations of the Financial savings Fund of the Member of the Scheme for the State as a complete and shall be paid on the fee of 12 % each year compounded Quarterly with impact from 01.11.1994. Additional, within the Authorities orders fifth learn above, the apportionment of the subscription of every unit Rs. 15/- between Insurance coverage Fund and Financial savings Fund was fastened within the ratio of Rs.4.50/- and Rs. 10.50/- respectively with impact from 01.11.1994. The quantity of insurance coverage protection shall be Rs. 15,000/- for every unit of subscription.
4. The speed of curiosity on accumulations of Financial savings Fund of the Member of the Scheme and the curiosity on the Insurance coverage Fund on occasion is as follows:
5. Within the reference 14th learn above, Authorities has issued orders to scale back the speed of curiosity from 8.8 % to eight.7 % each year with impact from 01.04.2014 on the Provident Funds and different comparable funds i.e., Andhra Pradesh Authorities Life Insurance coverage Funds maintained by the Authorities of Andhra Pradesh on par with charges of Authorities of India till additional orders.
6. In view of the above circumstances and after cautious examination of the matter, Authorities hereby orders that the revised charges of curiosity on the Andhra Pradesh Group Insurance coverage Financial savings Funds shall be allowed at 8.7 % each year from 01.04.2015 onwards. The Tables are revised and issued for the interval overlaying from 01.04.2015 to 31.03.2016. The revised tables of advantages I, II and III, III (A) to III (U) on Financial savings Fund of Andhra Pradesh State Staff Group Insurance coverage Scheme – 1984 on cessation of membership through the interval from 01.04.2015 to 31.03.2016 are appended herewith for making funds underneath the Scheme.
7. These orders and Tables shall are available in pressure with impact from 01.04.2015.
8. The Sanctioning Authorities / Drawing and Disbursement Officers / Treasury Officers/ District Audit Officers / Pay and Accounts Officers / Director of Works Accounts are requested to maintain in view of the appended Desk whereas sanctioning and making the ultimate funds underneath Group Insurance coverage Scheme for correct implementation of the Scheme. Additional, the next directions shall even be scrupulously adopted:
1. The Head of the Division / Drawing and Disbursement Officer shall be held answerable for sanctioning the Group Insurance coverage Scheme remaining funds.If any extra funds are discovered, the distinction quantity shall be collected from the sanctioning authority and such Officers are answerable for disciplinary motion.
2. The Drawing and Disbursement Officer shall get better the proper fee of subscription in response to the eligible group of the workers. For any extra / much less restoration, the Drawing and Disbursement Officer involved shall be held accountable.
3. The Director of Insurance coverage (FAC), Andhra Pradesh, Hyderabad shall conduct an everyday Audit of all claims paid underneath Group Insurance coverage Scheme and ship a report back to the Head of the Division involved.
4. The Head of the Division involved shall take motion in opposition to the erring officers who’re answerable for the surplus / much less recoveries wherever they’re detected.
5. Any extra fee made, if discovered through the Audit by the Directorate of Insurance coverage, the identical shall be instantly recovered from the involved and remitted by Challan to the involved Head of Account by the Drawing and Disbursement Officer and the actual fact of remittance shall invariably be communicated to the Directorate of Insurance coverage.
6. If an worker’s subscription is just not recovered throughout his Service Interval, the whole subscription together with curiosity shall be recovered from the funds admissible to him.
7. All of the Heads of Places of work ought to take immediate motion for recording the required subscription entries within the Service Registers of the workers underneath correct attestation yearly on the shut of March and a Certificates shall be recorded within the Service Ebook of every worker that subscription to the Scheme on the acceptable charges have been recovered for the interval from April to March. The entries shall be attested by the Drawing and Disbursing Officer.
8. As per GO. Ms.No.910, Finance (Admn.II) Division, dated: 28.10.2002.“Sanctioning authority shall ship a duplicate of sanction orders of the Group Insurance coverage Scheme Fee together with calculation slip to the Directorate of Insurance coverage for verification”.
9. The Director of Insurance coverage (FAC) is additional suggested to acquire the revised charges of curiosity from the Authorities of India and submit the proposals to the Authorities upfront yearly in order to problem orders in time.
10. The Director of Insurance coverage (FAC), Andhra Pradesh, Hyderabad shall take additional mandatory motion within the matter accordingly
GO.99 AP State Employees GIS/Group Insurance Scheme New Interest Rates 2015-2016
*Disclaimer: We have now revealed the above data for reference Function solely, For any adjustments on the content material we refer to go to the Official web site to get the newest & Official particulars, and we aren’t answerable for something
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