AP Employees Welfare Scheme GIS Revised Slab Rates 2018. The government has revised the rates for Andhra Pradesh State Employees Group Insurance Scheme (APGIS) under employees welfare scheme. The revised tables of benefits for saving fund for the period listed below. Provident Fund Interest rates on General Provident Fund (Andhra Pradesh) for the subscribers of GPF and other similar funds as 7.6% (Seven point six percent) per annum with effect from 01.04.2018 to 30.06.2018 for the year 2018-19 Orders Issued. As per the G.O, the revised interest rate applicable to GIS is 7.8 percent per annum.
In the G.O. first read above, orders were issued adopting the rate of interest as 7.6 % per annum for the period from 01.01.2018 to 31.03.2018 during the year 2017-18 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India.
Read More G.O RT 22-05-2018:
AP Employees Welfare Scheme GIS Revised Slab Rates 2018
The revised interest rates are also applicable to employees who are retired/deceased from 1st July 2017 to 31st December 2017. Further, the govt has issued instructions to be followed without fail while processing the claims.
The Sanctioning Authorities / DDO /PAO/ Treasury Officers / DAOs / Director of Works Accounts must follow the revised table while sanctioning & making the final payments.
The Head of the Department / DDO shall be held responsible for sanctioning the APGIS final payments. If any excess payments are found, the difference amount shall be recovered from the sanctioning authority and liable for disciplinary action.
The Drawing and Disbursing Officer shall recover the correct rate of subscription according to the eligible group of the employees. The DDOs concerned are responsible for any excess or less recovery.
The DDO shall remit the excess payment made, if any, through challan to the concerned head of account. However, the fact of remittance invariably is communicated to the Directorate of Insurance.
If any employee’s subscription is not recovered during Service Period, the total subscription along with interest shall be recovered from the payments admissible to them.
The heads of offices should record the subscription entries in the service registers with proper attestation every year. Moreover, a certificate to this effect should be enclosed with attestation of DDO.