Excelsior Correspondent
JAMMU, July 18: The State Government has accorded sanction to the tie up of Group Janta Personal Accidental Insurance Policy with M/s Oriental Insurance Company Ltd for a period of 12 months commencing from July 17, 2014 midnight.
The policy shall cover an aggregate of 3.40 lac employees of all categories working in the State Government Departments, PSUs, Autonomous Bodies and shall also include the Daily Rated Workers, Consolidated/ Contractual /Adhoc employees and the SPOs.
The sum insured under the policy shall be Rs 5 lakh per employee against payment of a yearly premium of Rs 138/- inclusive of service tax of Rs 13.
A detailed Memorandum of Understanding (MoU) indicating the terms and conditions and other related details shall be executed soon between the Government of J&K State and M/s Oriental Insurance Company Limited.
The Government has also accorded sanction for the drawal of an amount of Rs 2,23,83,680 for releasing the same to M/s Oriental Insurance Company Ltd as premium for Group Janta Personal Accidental Insurance Policy for the employees.
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