Rajasthan Chief Minister Ashok Gehlot has granted his approval to the proposal of providing a bonus on state employees’ insurance coverage for the fiscal year 2019-20.
New Delhi: Even before Diwali, the Rajasthan government would offer a huge gift to its employees. The government has agreed to give a good bonus to state employees on their insurance policies for the fiscal year 2019-20. This decision by the government will benefit around 7.50 lakh state employees. The plan has been approved by Chief Minister Ashok Gehlot.
According to an official statement by the Rajasthan government, Chief Minister Ashok Gehlot has granted his approval to the proposal of providing a bonus on state employees’ insurance coverage for the fiscal year 2019-20. The report of the Actuary (Actuarial) evaluation for this has been approved by CM. The state government’s 7.50 lakh employees are very happy with the CM’s decision, and they are now waiting for it to be implemented.
The Rajasthan Finance Department proposed, in the report of actuarial assessment undertaken by the Director of Insurance under the Rajasthan Government Employees Insurance Rules, 1998, Rs 90 per thousand for the endowment policy for the year 2019-20 and for life insurance. It is proposed that the policy receive a simple reversionary benefit of Rs.112.5 per thousand. Companies must now put this into action. Following that, employees will begin to reap the benefits.
It was suggested that bonuses on insurance policies be given at the same rate for the fiscal year 2018-19 as well. Apart from that, it has been advised by the state government to award interim bonuses at the same rate and preserve the terminal bonus rate at Rs 4 per thousand till the next evaluation result is announced. The state administration’s action has pleased government personnel. He claims that we will now receive the benefit directly. The government should simply begin as soon as feasible.
