Group Insurance cum Savings Scheme, 1987
Published in Knowledge Base. Tags: GISS.
Check: All Notifications/ Circulars regarding GISS
- This scheme is a self financing scheme. State Govt.’s contribution is NIL.
- It has started from 01.11.1987.
- Following categories of employee will come under the scheme:
- Full time State Govt. employee and work charged employee.
- Daily rated worker.
- Person appointed on short term basis.
- Person appointed on ad-hoc basis or contract basis for a specified period.
- Seasonal or Casual employee.
- Person recruited after 50 years.
- Person on deputation from other State Govt., Public Undertakings, Autonomous Organizations.
- Date of anniversary of the scheme is 1st November in each year.
- Rate of subscription differs as Group as under:
| Group |
Subscription |
Insurance |
Saving |
| A |
Rs. 80 |
Rs. 24 |
Rs. 56 |
| B |
Rs. 40 |
Rs. 12 |
Rs. 28 |
| C |
Rs. 20 |
Rs. 6 |
Rs. 14 |
| D |
Rs. 10 |
Rs. 3 |
Rs. 7 |
- If any employee joins in the Govt. Service in the month of November, full subscription according to his group is to be recovered from his salary of November. But if he joins after November, Insurance Fund according to Group is to be recovered. From next November Insurance Fund and Savings Fund are to be recovered.
- In case of death while in service following amount admissible according to Group of the employee:
| Group |
Admissible |
| A |
Rs. 80000 + savings fund with interest as per table issued by the Finance Deptt. |
| B |
Rs. 40000 + do |
| C |
Rs. 20000 + do |
| D |
Rs. 10000 + do |
- In case of retirement/ resignation etc. the employee will get the amount deposited in savings fund plus interest as per table issued by Finance Department is sanctioned by the Head of Office.
- No interest shall be levied on arrear subscriptions if the non recovery is due to delayed payments of salary/ wages.