How to Revise GIS Premium in SPARK ?
For deducting GIS premium in SPARK, salary matters- changes in the month – present salary details be taken to include new rates and present GIS amount be edited to enter the new GIS rate. There is no need to apply through VISWAS for the new premium hike.
How to Revise SLI Premium
As per the new guidelines, unlike early, SLI premium rate would be increased according to 1.5% of Basic pay and DA / personal pay and grade pay, if applicable. The amount should be calculated and rounded off to 100s. The excess amount of the existing premium be done by taking an additional policy.
It is advised to take a policy for the new amount, considering the hike likely to take place in the Basic Pay and DA. Not like GIS, a new SLI policy be taken for the amount. SLI application form with nomination details be filled by the employee and countersigned by the DDO. All applications of SLI additional policy in an office be given in the District Insurance office and the amount be paid there for all the employees.
To pay the premium amount of all employees in an office in a single receipt, the details be given in a single chart form or it can be paid through e-treasury portal- www.etreasury.kerala.gov.in and the challan generated through it be attached with application for submission in the District Insurance Office. While the policy number is intimated, the deduction for the same be done in SPARK – Salary matters – changes in the month- present salary details.
Download SLI & GIS Premium Calculator Software
It is to be noted that the existing policy should not be edited. Unlike GIS, there is no need of additional policy for the employees above 50 years of age. Click the link below for the new revised SLI premium rates calculation and GIS revised rates of premium.
