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GIS Calculation with Example #cgegis #Group insurance scheme 1980 #1984 #example by sankhyan

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For example, if a Class IV employee, who is a member of the Scheme acquires a membership in Class III and Class II after 5 years and 15 years of service respectively and dies while in service after 30 years of total membership in all these Classes, his nominee or nominees shall be paid the following amounts:-
()the amount of insurance of Rs. 40,000 due on a monthly subscription of Rs. 40/- being a Class II employee on the date of his death; (i) the amount due from Savings Fund on a monthly subscription of Rs. 10/- (Rs. 10))
for 30 years;
(iii) the amount due from Savings Fund on a monthly subscription of Rs. 10/- (Rs. 20
minus Rs. 10/-) for 25 years; and
(iv) the amount due from Savings Fund on a monthly subscription of Rs. 20/-(Rs. 40
minus Rs. 20/-) for 15 years.
(b) the amount payable to the member of the Scheme, who ceases to be in employment with the Himachal Pradesh Government on account of resignation, retirement etc., shall be:
(1) the amount due to him out of the Savings Fund for the entire period of his
membership in the lowest Class; and
(if) the amount or amounts due to him for the additional units by which, his subs- cription was raised on each occasion due to appointment/promotion to higher Class, for the period from which the rate of subscription was so raised to the date of cessation of his membership.
Sanjay Sankhyan
#hpnotifications by sankhyan
#sanjay
#hipa
#hpfas
#departmental exams#cgegis
#GIS calculation with example
as per #Himachal Pradesh GIS scheme 1984
#hpnotifications by sankhyan
#sanjay sankhyan
#departmental exam
()the amount of insurance of Rs. 40,000 due on a monthly subscription of Rs. 40/- being a Class II employee on the date of his death; (i) the amount due from Savings Fund on a monthly subscription of Rs. 10/- (Rs. 10))
for 30 years;
(iii) the amount due from Savings Fund on a monthly subscription of Rs. 10/- (Rs. 20
minus Rs. 10/-) for 25 years; and
(iv) the amount due from Savings Fund on a monthly subscription of Rs. 20/-(Rs. 40
minus Rs. 20/-) for 15 years.
(b) the amount payable to the member of the Scheme, who ceases to be in employment with the Himachal Pradesh Government on account of resignation, retirement etc., shall be:
(1) the amount due to him out of the Savings Fund for the entire period of his
membership in the lowest Class; and
(if) the amount or amounts due to him for the additional units by which, his subs- cription was raised on each occasion due to appointment/promotion to higher Class, for the period from which the rate of subscription was so raised to the date of cessation of his membership.
Sanjay Sankhyan
#hpnotifications by sankhyan
#sanjay
#hipa
#hpfas
#departmental exams#cgegis
#GIS calculation with example
as per #Himachal Pradesh GIS scheme 1984
#hpnotifications by sankhyan
#sanjay sankhyan
#departmental exam
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