Excelsior Correspondent
JAMMU, July 14: The State Government has accorded sanction for the renewal of Group Janta Personal Accidental Insurance Policy with M/s Oriental Insurance Company Ltd for a period of twelve months (second year) commencing from midnight July 17, 2015 to midnight July 16, 2016.
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 is Rs 5 lakh for accidental death per employee against payment of yearly premium of Rs 141/- inclusive of service taxes of Rs 16, from the salary for the month of June 2015.
A detailed Memorandum of Understanding (MoU) indicating the terms and conditions and other related details have already been executed between the Government of J&K State and M/s Oriental Insurance Company Limited.
The Government has also accorded sanction for the release and drawal of advance amount of Rs 4, 25, 00,000 on account of premium payable to M/s Oriental Insurance Company Ltd and the funds to the extent are placed at the disposal of Joint Director Resources/Chief Accounts Officer, Finance Department.
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