3.50 lakh J&K govt employees get accidental insurance cover

at 12:21 pm

Jammu (NVI): The J&K Government yesterday approved the implementation of personal accidental insurance policy of Rs 10 lakh each, to more than 3.50 lakh of its employees.

According to an order issued by the Finance Department, the implementation of the policy will be through Oriental Insurance Company Limited and will be for a period of three years commencing from December 2, 2019.

“The policy shall cover more than 3.50 lakh employees of the J&K Government both Gazetted and Non Gazetted, including employees of PSUs, autonomous bodies, local bodies, universities, daily rated workers, consolidated, contractual, adhoc employees, contingent paid workers and SPOs,” the order said.

The sum assured under this policy shall be Rs 10 lakh per employee against payment of a yearly premium of Rs 345.74 rounded to Rs 346 inclusive of 18 percent GST which will be equal to Rs 52.74.

The order further said that all the Drawing and Disbursing Officers (DDOs) of the Government shall deduct Rs 346 from all categories of the employees mentioned above from the salaries of December 2019 on compulsory basis.

Similarly, all DDOs of the PSUs, autonomous bodies, local bodies and universities shall remit Rs 346 inclusive of 18 per cent CST, through challan against aforementioned major head in Government treasuries in respect of their employees for being covered under the scheme on or before January 15 next year.

Moreover they should also furnish the copy of challan bearing TR No and date along with the list of employees to the nodal officer, Croup Personal Accidental Insurance Policy, Finance Department, Civil Secretariat Jammu or Srinagar immediately.

However, wherever due to any administrative or financial problem, it said, the DDO could not deduct the premium of his employee(s) from the salary for the month of December 2019, he shall immediately deposit or remit the prescribed premium against the proper head of account in the concerned treasuries through challan after collecting the premium from the left out employees to bring them under the insurance coverage.

It shall be the responsibility of the concerned DDO not to leave out any employee without deduction of prescribed premium for coverage of the accidental Insurance policy.

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.