Employees Group Insurance Scheme : Rate of interest 8.6% per annum…
The State Government of Himachal Pradesh has declared the rate of interest 8.6% per annum (compounded quarterly) with effect from 1st April, 2012 on the balance of savings fund under Himachal Pradesh Employees Group Insurance Scheme 1984…
New table of benefits for the savings fund of the Scheme based on a
subscription of Rs.10/- per month from 01-04-1985 and 15/- per month w. e .f 01-04-1990 onwards have been prepared for the year 2012 2013 and a copy of table is enclosed.
Another table of benefits for the saving funds based on a subscription of Rs.10/- per month for those employees who had opted out of the revised rate of subscription w.e.f 01-04-1990 have also been drawn up for the year 2012-2013 and a copy of table is also enclosed.
The amounts indicated in the tables have been worked out on the basis of following rate of interest per annum( compounded quarterly):-
01-04-1985 to 31-03-1987 @ 11 %
01-04-1987 to 31-03-2001 @ 12 %
01-04-2001 to 31-03-2002 @ 11 %
01-04-2002 to 31-03-2003 @ 9.5 %
01-04-2003 to 31-03-2004 @ 9.00 %
01-04-2004 to 31-03-2012 @ 8 %
01-04-2012 to 31-03-2013 @ 8.6 %