Govt renews insurance cover

Jammu: The Jammu and Kashmir government on Friday renewed Rs 10 lakh personal accidental insurance cover for more than 3.5 lakh employees.
The government accorded sanction to renewal of Group Personal Accidental Insurance Policy with Oriental Insurance Company Limited for 2nd year commencing from December 2 to December 1, 2020 , 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.
"All the Drawing and Disbursing Officers (DDOs) of the Government shall deduct Rs. 346/- from all categories of employees mentioned above from the salaries of December, 2020 on compulsory basis. The amount so recovered from the salaries/wages etc. of the employees for the month December,' reads the order.
"Similarly, the DDOs of PSUs, Autonomous Bodies, Local Bodies and Universities shall hundred forty six only) inclusive of GST @ seventy four paisa only) through challan remit the amount of Rs. 346/- (Rupees three 18% i.e. Rs. 52.74/- (Rupees fifty two and against aforementioned Major Head in Govt. Treasuries in respect of their employees," the order further reads.
"However, wherever due to any administrative or financial problem, the DDO could not deduct the premium of his employee(s) from the salary of the month of December 2020, he shall immediately deposit/remit the prescribed premium against the proper Head of Account in the concerned Treasury 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," as per thr order.
"Sanction is also accorded to the advance drawal of an amount of Rs. 12,10,09,000/-(Rupees Twelve Crores Ten lacs & Nine Thousand only) @ Rs. 345.74/- per employee under Major Head 2235- Social Security & Welfare, Sub Major Head: 60- Other Social Security and Welfare Programmes, Minor Head: 105- Government Employees Insurance Scheme, Group Head: 099, Sub Head: 0323- State Contribution for Employees Insurance, Detailed Head: 009- RRT by the Joint Director Resources, Finance Department for subsequent release of the amount to M/s Oriental Insurance Company Ltd as a premium for Group Personal Accidental Insurance policy for 3.50 lacs employees of the Government of Jammu & Kashmir for a period of one year from the date of payment of premium," the order reads.
"However, the excess/shortage of the premium paid to the insurance company shall be adjusted in the month of July 2021, after receiving the consolidated details of total number of employees who have contributed the premium towards the instant policy from the Director General Accounts & Treasuries," the order reads.