Over 3.5 lakh employees of the Jammu & Kashmir government will now be eligible for a personal accidental insurance cover of Rs 10 lakh.
The policy was given the green signal by the administration and governmental sanction has been given to implement the
Group Personal Accidental Insurance Policy, through the Oriental Insurance Company, for a three-year period, starting 2 December.
The order, which was issued by the Finance Department, states that the policy shall cover the gazetted and non-gazetted employees of the J&K government, which also includes the staff of PSUs, autonomous and local bodies, universities, daily rated workers, as well as consolidated, contractual, ad hoc employees and contingent paid workers and SPOs.
The yearly premium of Rs 346 will include GST, for the assured sum of Rs 10 lakh. The premium amount will be mandatorily deducted from the salaries of all categories of employees, by the drawing and disbursing officers. The amount will be sent to the government treasuries before 15 January.
No rights other than accidental insurance in keeping with the terms and conditions laid down will be conferred by the Group Personal Accidental Insurance Policy. A formal agreement or Memorandum of Understanding (MOU) clearly laying down the terms and conditions and other details shall be signed between the Government of Jammu and Kashmir and the Oriental Insurance Company soon.