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  4. Good News! These govt employees to get ‎₹10 lakh accident insurance cover. Check details

Good News! These govt employees to get ‎₹10 lakh accident insurance cover. Check details

Prime Minister Modi-led government has a New Year gift for Jammu and Kashmir government employees. As per reports, more than 3.5 lakh employees of Jammu and Kashmir government will get a Rs 10 lakh personal accidental insurance cover with the administration approving a policy proposal on Tuesday.

India TV Business Desk India TV Business Desk
New Delhi Updated on: December 04, 2019 12:23 IST
Good News! These govt employees to get ‎₹10 lakh

Good News! These govt employees to get ‎₹10 lakh accident insurance cover. Check details

Prime Minister Modi-led government has a New Year gift for Jammu and Kashmir government employees. As per reports, more than 3.5 lakh employees of Jammu and Kashmir government will get a Rs 10 lakh personal accidental insurance cover with the administration approving a policy proposal on Tuesday.

The government accorded sanction to the implementation of the Group Personal Accidental Insurance Policy through Oriental Insurance Company Limited for a period of three years commencing from December 2, an order issued by the government said.

According to the order issued by the Finance Department, the policy shall cover an aggregate of more than 3.50 lakh employees of the J&K Government (Gazetted and Non-Gazetted) including employees of PSUs, autonomous bodies, local bodies and universities, daily rated workers, consolidated, contractual, Adhoc employees and contingent paid workers and SPOs.

The sum assured under this policy shall be Rs 10 lakh (Rupees ten lakh only) per employee against payment of a yearly premium of Rs 346 inclusive of GST, it said.

The order said all the drawing and disbursing officers (DDOs) of the government shall deduct Rs 346 from all categories of the employees from the salaries of December 2019 on a compulsory basis.

Similarly, all the DDOs shall remit an amount of Rs 346 in government treasuries in respect of their employees for being covered under the scheme on or before January 15, 2020, positively and furnish the copy with the list of the employees to the Nodal Officer, Group Personal Accidental Insurance Policy, Finance Department immediately.

The order reads that inclusion under Group Personal Accidental Insurance Policy shall not confer any rights other than accidental insurance whatsoever as per terms and conditions laid down.

A detailed Memorandum of Understanding (MOU) indicating the terms and conditions and other related details shall be executed between the Government of Jammu and Kashmir and Oriental Insurance Company Ltd.

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