CGEGIS 1980
1. Commencement of CGEGIS - 01.01.1982
2. Compulsory for staff who have
joined on or after 01.11.1989
3. Object: Provides twin benefits
to Central Govt employees, at a Low cost. It is wholly contributory and
self financing.
a). Insurance cover on
account of death of employee
b). Lump sum amount from Savings Fund on the date of
Retirement
4. Recoveries towards CGEGIS
credited to the Public Account of India.
5. All employees who enter service
on or after 2nd January of any year shall be enrolled as members of Scheme on
the next anniversary of the Scheme (i.e., from 01st January of Next year)
6. Calendar year i.e., January to
December is the criteria for calculation of CGEGIS.
7.Authority for Recovery of Rs. 30 (on par with Group C staff)
to erstwhile Group D staff with Grade pay 1800 w.e.f from 01.01.2011 : Authority
8.Monthly Recovery amount (One unit equals – Rs. 15) - w.e.f. 01.01.1991
|
No of units |
Normal Recovery in subsequent years |
Insurance
cover |
Recovery
in the joining year,
If joined on or after 2nd
January of any year (till
31st December) – Insurance portion only |
@Rs.
4.50 for every Rs.
15000 (one unit) insurance cover |
|
|
Group A |
8 |
Rs. 120 |
Rs. 1,20,000 |
Rs. 36 per month |
Rs. 4.50 x 8 = Rs.36 |
|
Group B |
4 |
Rs. 60 |
Rs. 60,000 |
Rs. 18 per month |
Rs. 4.50 x 4 = Rs. 18 |
|
Group C |
2 |
Rs. 30 |
Rs. 30,000 |
Rs. 9 per month |
Rs. 4.50 x 2 = Rs. 9 |
Example: If an employee joined on or after 2nd January of any year.
a) A Group C employee joined
service on 03.01.2019. He will be enrolled for the said scheme with
effect from 01.01.2020 only.
b)The recovery is Rs. 4.50 per cover of Insurance of Rs. 15,000.
That means recovery from Group C employee is Rs. 9 from January 2019 to
December 2019, because insurance cover of Group C is Rs. 30,000 (Rs. 4.50 x 2 )
c) Rs. 4.50 per every Rs. 15000
insurance cover consists of contribution to Insurance Fund only.( Not
Savings Fund)
d) However from 01.01.2020, the
recovery is Rs. 30 per month from Group C employees. (contribution to Insurance
Fund as well as Savings Fund )
Example: If an employee is promoted on or after 2nd January of any year.
9. If Group C employees are
promoted to Group B Post on 5th February 2019.
10. Rate of recovery of CGEGIS is
Rs. 30 only, till 31.12.2019. It will enhance from Rs. 30 to Rs.60 from 1st January, 2020 only.
11. Ratio of Insurance Fund, Savings Fund is 30%, 70% (so for Group C post, it is Rs. 9 :Rs.21 towards Insurance Fund
and Savings Fund respectively.)
Insurance Fund : 30%
Savings Fund : 70%
12. Payments from CGEGIS
a) At the time of Retirement : Contribution to the Savings Fund and Interest accrued
b) At the time of Death : Contribution to the
Savings Fund and Interest accrued as well as Insurance cover i.e., Rs. 30,000 ,
Rs. 60,000 & Rs. 1,20,000 towards Group C, Group B and Group A respectively
Key take aways for MCQ on CGEGIS
1.
CGEGIS stands for Central Government Employees Group Insurance
Scheme
2.
Commenced from 1st January, 1982
3.
Compulsory for those who joined on or after 1st November, 1989
4.
Recoveries are credited to the Public Account of India (not
Consolidated Fund of India). Because it belongs to the Public
(Employees), not Government of India.
5.
All employees who enter service on or after 2nd January of any year -
Members of this scheme from next year only, not the current year.
6.
Calendar year i.e., January to December - Criteria
7.
One Unit equals Rs.15.
Group A - Rs.120 (8 Units)
Group B - Rs. 60 (4 Units)
Group C - Rs. 30 (2 Units)
8.
Insurance Fund - 30 % and Savings Fund - 70 %
9.
At the time of Retirement : Contribution to the Savings
Fund and Interest accrued
10.
At the time of Death : Contribution to the Savings Fund and
Interest accrued as well as Insurance cover
11.
Insurance coverage is as follows:
Group A - Rs. 120000 (100 times of monthly recovery
Rs. 120)
Group B - Rs. 60000 (100 times of monthly
recovery Rs. 60)
Group C - Rs. 30000 (100 times of monthly
recovery Rs. 30)
12.
Authority is Railway Board letter - Click
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