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J&K government to renew Rs 10 lakh accidental insurance for 3.50 lakh employees

Last Updated on November 29, 2021 at 3:25 pm

Jammu and Kashmir government has accorded sanction to renewal of group personal accidental insurance of at least 3.50 lakh employees of the UT government.

“Sanction is hereby accorded to the renewal of the Group personal Accidental Insurance Policy With MIS Oriental Insurance Company Ltd. for 3rd year, commencing from midnight 2nd of December 2021 to 1st of December 2022, as per the agreement already executed between the Government Of Jammu and Kashmir and M/s. Oriental Insurance Company Ltd” a notification stated.

The policy shall cover an aggregate Of more than 3.50 Iakh employees of the Government (Gazetted and Non Gazetted) including the employees Of PSUS/ Autonomous Bodies/ Local Bodies/ Universities, Daily Rated Workers, Consolidated/Contractual/Adhoc employees/Contingent paid workers and SPOS.

The sum assured under this policy shall be Rs. 10 lakh per employee against payment Of a yearly premium of Rs. 346.

Similarly, the DDOs of PSUs, Autonomous bodies, Local Bodies and universities shall remit the amount of Rs. 346 through challan.

“However, wherever due to any administrative or financial problem, the DDO could not deduct the premium or his employees from the salary of the month of December 2021, he Shall immediately deposit the prescribed premium against the Head of Account in the concerned Treasury through Challan after collecting the premium from the left over employees to bring them under the insurance coverage” the notification rad.

It shall be the primary responsibility of the concerned DDO not to leave out any employee without deduction of premium for coverage Of the Accidental insurance, it further read.