Punjab hikes rates of group insurance scheme for govt employees

CHANDIGARH: The Punjab government has increased the rates of Group Insurance Scheme (GIS) to almost four times for government employees.
Punjab finance minister Harpal Singh Cheema has approved the proposal in the interest of the Punjab government employees and their family members.
An official spokesperson said that in case of death or retirement of an employee, he was paid Rs 15,000 to Rs 1.20 lakh which has now been increased from Rs 60,000 to Rs 4.80 lakh.
This decision will be effective from January 1, 2023. At present Rs 120 per month is deducted from the salary of Group A officers in the form of GIS and in case of retirement or death of the officer Rs.1.20 lakh is paid. From January 1, 2023, the deduction will be Rs 480 per month and the payment will be Rs 4.80 lakh.