CGEGIS Table 2012 issued by Finance Ministry

CGEGIS Table 2012 from Finance MinistryThe most expected order has been issued by Finance Ministry today…

The Central Government Employees Group Insurance Scheme provides insurance cover to their families and lumpsum payment to augment their resources on retirement. The scheme started 1.1.1982 and it has two funds are namely  Insurance Fund and another one Savings fund. A portion of the subscription is credited to Insurance Fund and the other portion to the Savings Fund in the ratio of 3:7. The Savings Fund will earn interest at the prescribed rate to be compounded quarterly.

All these employees’ who had entered Central Government Service after 1st November,1980 will be compulsorily covered under the scheme from the date it came into force i.e. from 1st January,1982. The employees will be enrolled as members of the scheme only from 1st January every year. If an employee enters service on or after 2nd January in any year, he will be enrolled as a member only from 1st January of the next year. However, he will be entitled to insurance cover from the actual date of entry of service till the end of that calendar year by paying monthly subscription of Rs. 5/- p.m. as premium for every Rs. 15,000/ – of the insurance cover.

Similarly, on regular promotion of a member of a lower Group to a higher Group after 1st January in a year, his subscription will be raised from the 1st January of the next year.

Two types of tables annexed in the order to calculate the maturity amount of the funds deposited in the scheme. The rate of interest per annum compounded quarterly for contribution of Rs.10 per month throughout …

From To Interest
1.1.82 31.12.82 0.1
1.1.83 31.12.86 0.11
1.1.87 31.12.00 0.12
1.1.01 31.12.01 0.11
1.1.02 31.12.02 0.095
1.1.03 31.12.03 0.09
1.1.04 30.11.11 0.08
1.12.11 31.12.12 0.086

*Interest per annum compounded quarterly

Savings Fund :
68.75% from 1.1.82 to 31.12.87
70% from 1.1.88 and onwards
31.25% from 1.1.82 to 31.12.87
30% from 1.1.88 and onwards

And another table denotes the maturity amount of funds…
Contribution of Rs.10 per  month upto 31.12.89 and Rs.15 throughout after 1.1.90
Accumulated value of contribution from 1st January of year of Entry to the month and year of cessation
year of cessation of membership 2012

From To Interest
1.1.82 31.12.82 0.1
1.1.83 31.12.86 0.11
1.1.87 31.12.00 0.12
1.1.01 31.12.01 0.11
1.1.02 31.12.02 0.095
1.1.03 31.12.03 0.09
1.1.04 30.11.11 0.08
1.12.11 31.12.12 0.086

*Interest per annum compounded quarterly

Savings Fund :
68.75% from 1.1.82 to 31.12.87
70% from 1.1.88 and onwards
31.25% from 1.1.82 to 31.12.87
30% from 1.1.88 and onwards

CGEN.in Newsletter Subscription…

Enter your Email:
Preview | Powered by FeedBlitz

Also you read….

Next Additional Dearness Allowance Hike Almost Confirmed at 7%..!

Next Additional Dearness Allowance Hike Almost Confirmed at 7%..! The Labour Bureau released the AICPIN points for the month of May yesterday. The AICPIN points, which had remained stagnant at 242 … [Read More...]

Collection of data of Central Government Staff and Officers – 7th Central Pay Commission

Collection of data of  Central Government Staff and Officers - 7th Central Pay Commission The Directorate General of Human Resource Development has published an order regarding the 7th Central Pay … [Read More...]

7TH CPC COMMON MEMORANDUM – AT A GLANCE

7TH CPC COMMON MEMORANDUM – AT A GLANCE Highlights of the Memorandum submitted on issues common to all Central Government employees to Secretary 7th Pay Commission. JCM NC has also submitted Interim … [Read More...]

List of Allowances & Advances increased by 25% due to DA touched to 100% with effect from 1.1.2014.

List of Allowances & Advances increased by 25% due to DA touched to 100% with effect from 1.1.2014.  List of all allowances and advances enhanced by 25% from the existing level from 1st January … [Read More...]

Dont forget to join in our community…

Comments

  1. dipankar chakrabartty says:

    want cgegis cessation of membership table 2012 for the use of pensioners benefits.