General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2021

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General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2021

General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2021 MINISTRY OF FINANCE (Department

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General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2021

MINISTRY OF FINANCE
(Department of Financial Services)

NOTIFICATION

New Delhi, the 9th February, 2021

S.O. 611(E).—In exercise of the powers conferred by clause (g) of sub-section(1) of Section 16 read with section 17 A of the General Insurance Business (Nationalization) Act, 1972 (57 of 1972), the Central Government hereby frames the following Scheme further to amend the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Scheme, 1975, namely :-

1. (1) This Scheme may be called the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Amendment Scheme, 2021.

(2) Save as otherwise provided hereinafter, the provisions of this Scheme shall be deemed to have come into force on the 1st day of July, 2017.

2. In the General Insurance (Rationalisation of Pay Scales and other Conditions of Service of Officers) Scheme, 1975, in the Fifteenth Schedule,─

(i) in Item VI, after the words, ‘this Schedule’, the words and figures, ‘up to 30th June, 2017’ shall be inserted;
(ii) after Item VI, the following items shall be inserted, namely:-

“VII House Rent Allowance:

(1) With effect from 1st day of July,2017, the Chairman-cum-Managing Director who has not been provided with a rent free residential accommodation shall be paid a House Rent Allowance (HRA) per month at the rate of 24% of Basic Pay in a city classified as ‘X’ by the Central Government.

(2) The rate of HRA will be revised to 27% of Basic Pay when Dearness Allowance (DA) crosses 25% and further revised to 30% of Basic Pay when DA crosses 50%.

VIII Transport Allowance:

With effect from 1st day of July, 2017, the Chairman-cum-Managing Director, who is otherwise entitled to the use of official car for travel between residence and office, shall have an option to draw transport allowance at the rate of Rs. 15,750 per month plus Dearness Allowance thereon provided he does not make use of official car for travel between residence and office.

IX Children Education Allowance:

(1) With effect from 1st day of July, 2017, reimbursement of Children Education Allowance to the Chairman-cum-Managing Director shall be up to the maximum of Rs. 2,250 per child per month subject to the maximum of two children:

Provided that if the child is residing in hostel, hostel subsidy shall be reimbursed up to the maximum of Rs. 6,750 per child per month, so, however, that both the Children Education Allowance and the hostel subsidy shall not be availed concurrently.

(2) The Children Education Allowance or the hostel subsidy may be availed for two eldest surviving children.

(3) The above limits shall be automatically raised by 25% every time the Dearness Allowance goes up by 50%.

(4) If spouse of the CMD is a Government servant, only one of them shall avail reimbursement under Children Education Allowance or hostel subsidy.

(5) The reimbursement of Children Education Allowance for differently abled children shall be payable at double the normal rates prescribed subject to an annual ceiling of Rs. 54,000.

X Other allowances not specifically included in this Schedule:

The payment of other allowances to the Chairman-cum-Managing Director, not specifically mentioned in this Schedule, shall be made as admissible in the case of Officers in Higher Administrative Grade on the basis of the Central Civil Services (Revised Pay) Rules, 2016”.

[F. No. A-11012/02/2018-Ins-II]
SAURABH MISHRA, Jt. Secy.

EXPLANATORY MEMORANDUM

1. The Central Government has accorded approval for revision of certain allowances in respect of the Chairman-cum-Managing Director of the Corporation and the Chairman-cum-Managing Directors of the Companies with effect from the 1st day of July, 2017. Accordingly, the General Insurance (Rationalisation of Pay Scales and Other Conditions of Service of Officers) Scheme, 1975 is being amended with effect from the 1st day of July, 2017.

2. It is certified that no Chairman-cum-Managing Director of the Corporation or Chairman-cumManaging Director of the Company is likely to be affected adversely by the notification being given retrospective effect.

Note: The principal Scheme was published in the Gazette of India Extraordinary, Part II, Section 3, subsection (ii) vide notification No.S.O.521 (E), dated the 17th September, 1975, and subsequently amended by notification numbers S.O. 672(E) dated 21.11.1975, S.O. 389(E) dated 1.6.1976, S.O. 2445 dated 30.7.1977, S.O. 1047 dated 29.3.1978, S.O. 2110 dated 14.6.1978, S.O. 3428 dated 16.11.1978, S.O. 5 dated 20.12.1978, S.O. 770(E) dated 15.10.1985, S.O. 883(E) dated 9.12.1985, S.O. 442(E) dated 27.4.1987, S.O. 138(E) dated 29.1.1988, S.O. 782(E) dated 22.8.1988, S.O. 572(E) dated 25.7.1989, S.O. 751(E) dated 1.10.1990, S.O. 200(E) dated 10.3.1992, S.O. 81(E) dated 2.2.1994, S.O. 592(E) dated 30.06.1995, S.O. 521(E) dated 18.07.1996, S.O. 108 (E) dated 14.02.1997, S.O. 168(E) dated 5.3.1998, S.O. 729(E) dated 27.8.1998. S.O. 695(E) dated 30.08.1999, S.O. 587(E) dated 22.6.2000., S.O. 781 (E) dated 14.8.2001, S.O. 1027(E) dated 22.9.2004, S.O. 634(E) dated 4.5.2005, S.O. 1792 (E) dated 21.12.2005 S.O. 2742 (E) dated 26.11.2008, S.O. 2470(E) dated 08.10.2010, S.O. 233(E) dated 23.01.2016, S.O. 238(E) dated 23.01.2016 and S.O. 370(E) dated 08.02.2017.

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