Para 12.23 — MSO (A&E)
Original Rule Text
12.23 So far as withdrawals relate to Gazetted Government Servant, the Treasury Officer should be kept informed by the Accountant General concerned of the details of the policies which are being financed from the Provident Fund Account of the subscriber. These details (which should invariably be noted in the L.P.Cs.) will include name of the branch/office of Insurance Company. Policy Nos, Amount and Date of Payment of Premium which would be on records of the Treasury Officer for the purpose of verification of withdrawals on subsequent bills.
An intimation should be sent to the Treasury Officer by the Accountant General as and when an Insurance Policy is re-assigned or gets lapsed or in any other contingencies involving nonpayment of premia.
What This Means
For gazetted government servants financing insurance policies from PF, the Accountant General must keep the Treasury Officer informed about the policy details — including the insurance company branch, policy numbers, premium amounts, and payment dates. These details are noted in the Last Pay Certificate (LPC) and are used by the Treasury Officer to verify subsequent premium withdrawal bills. The AG must also notify the Treasury Officer whenever a policy is reassigned, lapses, or any other change affects premium payments.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Treasury Officer must be kept informed of PF-financed policy details for gazetted officers
- 2Details include: company branch, policy numbers, premium amount, and payment dates
- 3Policy details are invariably noted in the Last Pay Certificate (LPC)
- 4AG notifies Treasury Officer of reassignment, lapse, or any change affecting premiums
- 5Treasury Officer uses this information to verify subsequent withdrawal bills
Practical Example
A gazetted officer finances an LIC policy (Policy No. 123456, annual premium Rs 25,000, payable every January) from his GPF. The AG sends these details to the Treasury Officer and records them in the officer's LPC. When the officer is transferred to a new district, the new Treasury Officer can verify the premium withdrawal bill against the LPC details.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why must policy details be recorded in the LPC?▼
When must the AG inform the Treasury Officer about changes?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.