S I & PF DEPTT.GOVT. OF RAJASTHAN
Shipra Vikram
Shipra Vikram
STATE INSURANCE SCHEME
Started in 01-09-1943 by Jaipur state
Objective state employees Insurance Rules 1953
Mandatory scheme on Govt. employees
Shipra Vikram
FUNCTION TO BE PERFORMED
Issue of state Insurance policy (within 60 days)
To issue further contract ( not after age of 55yrs )
Loan facility To claim at superannuation/
death/ surrender
Shipra Vikram
State Insurance Policy
Mandatory for all employeesContribution of insurance premium from first salary of march paid aprilDeclaration form filled by employeeDeduction as per slabCalculation for state Insurance Policy
Shipra Vikram
Declaration Form Submission of Declaration Form
No declaration required at the time
of further insurance.
Issue of Insurance Record Book
Medical examination
Issue of policy
Shipra Vikram
What is a family ?
•Husband, Wife, Son, daughter, Father. Mother, Brother, Sister
•Nomination details in declaration form
•Provision in death claim
Shipra Vikram
FURTHER ASSURENCESWhenever, as a result of change in pay slabs,the premium already payable by an insured fallsshort of the premium to be payable by him,further assurance shall be granted forincremental premium & incremental recoveriesshall be effected from his pay from the monthof march of the same financial year.
No further contract shall be granted aftercompletion of 55 yrs of age by the insured
Shipra Vikram
Basic Slab
6050 - 8500 330
8501 - 17000 450
11001 - 18000 900
18001 - 28000 1550
More than 28001 2650
Max. 3000
Insurance Premium Slabs
Shipra Vikram
LOAN FACILITY
•Not issued in first two years of policy.
•G A 203 (form for Loan)
•Complete recovery of earlier loan
•Gap of 2yrs is must for next loan.
•Reversionary bonus is added to loan calculation.
•Duration of Loan sanction is 10 days
Shipra Vikram
SUM ASSURED WHEN PAYABLE
The sum assured under the insurance contracts under these rules shall be payable on the happening of the event in respect of which the sum assured is payable.
Every claim shall be accompanied by original policy and insurance record book, if issued to him.
Shipra Vikram
DEATH CLAIM
Claim form along with documents death certificate,policy, record book submitted via DDO to SIPF office.
RB, IB, & TB givenGaps filled by GA 81 or GA55Double sum assured.
Shipra Vikram
Maturity Death Surrender
RB RB RB
IB IB -
AB AB AB
TB - -
BONUS ON CLAIMS
Shipra Vikram
TYPES OF BONUS
1.Reversionary Bonus (RB) 2003-04 : Rs 90/thou2.Interim Bonus (IB) 3.Additional Bonus (AB) change in 55 to 58 yrs etc4.Terminal bonus (TB) given at the contract Rs 4 / thou
Shipra Vikram
SURRENDER CLAIM
a)Continuation of policyb)Receive surrender valve of policyc)Change in paid up valvePaid up valve = sum assured * Time
Endownment duration for premium
Shipra Vikram
SIPF
Shipra Vikram
General Provident Fund
•“Account” means the account of the account holder with the department in which all his deposits and interest are credited and withdrawals debited.
•“Account Holder” means the subscriber who is required to subscribe to provident fund account these rules.
Shipra Vikram
•“Family ” means :-•male subscriber, the wife or wives, parents children, minor brothers, unmarried sisters, deceased son’s widow and children and where no parents of the subscriber is alive, a paternal grandparent•female subscriber, the husband, parents, children, minor brothers, unmarried sisters, deceased son’s widow and children and where no parents of the subscriber is alive, a paternal grandparent
Shipra Vikram
“Pass Book” means the pass Book issued to the Account holder by the Department/Head of Office and verified in accordance with the provisions of these rules.
“Subscriber” means an employee of the State Government appointed/ reguarised under relevant recruitment Rules, or an employee of the Zila Parishad of Panchayat Samiti of specified organisation appointed under rules applicable to him.
Shipra Vikram
Compulsory Subscription to Provident Fund Scheme :-
Employees appointed before 1-1-2004 Every person appointed to a post inZila Parishad, Panchayat Samiti or suchorganization specified by the Govt by anorder issued to that effect, shallsubscribe to the Provdent Fund Schemeof the Department. The Scheme shall cease to beapplicable to the Account holder uponceasing of his employment.
Shipra Vikram
Compulsory Subscripton to
PF schemeEvery person appointed :- to a post in a
govt., zp, PS
The scheme shall cease to be applicable to
the account holder ceasing of his
employment.and no withdrawals
A/C holder to have option of continuing his
PF a/c for max. period of one year & no
withdrawals.
GPF SLABSBasic Pay Slab
- 9000 - 500
9001 - 11000 650
11001 -15000 1100
15001 - 20000 1450
20001 - 24000 2100
24001 - 28000 3300
28001 – 31000 4100
31001 - 45000 5200
45001 - 65000 5700
65001 – max. 6200
A/C and Pass BookNo. alloted within 60 days of his first
deposit by SIPF officer
Supplied with a Pass book
All deposits by way of deductions through
salary bill
No subscription shall be deducted during
the period of suspension.
Shipra Vikram
Temp. withdrawalsTo withdraw 50% of the balance in his account
or three months basic pay whichever is less for
reasons:-
a)Illness,confinement, disability
b)To meet cost of higher education,
c)Engagement,Marriges,funerals or other
ceremonies.
d)Cost of legal proceedings
e)To meet the cost of repair & renewal of house
owned by him or spouse.
Procedure for sanctioning T W
Refund of T W : refunded in 24 equal
instalmentsShipra Vikram
Permanent Withdrawal :
a) After fifteen yrs of service or 10 yrs
before the date of his retirement
b) Meeting the cost of higher
education, purchase of jeep car
etc.,
c) Building or acquiring a house
d) Repaying HBAShipra Vikram
CLAIM SETTLEMENT
Procedure for closure of a/c
when subscriber retires
Procedure on death of a
subscriber
Shipra Vikram
THANKS
Shipra Vikram