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