RULE 33B- DEPOSIT-LINKED INSURANCE REVISED SCHEME
33B. Deposit -Linked Insurance Revised Scheme
On the death of a subscriber, the person entitled to receive the amount standing to the credit if the subscriber shall be paid by the Accounts Officer, an additional amount equal to the average balance in the account during the 3 years immediately preceding the death of such subscriber, subject to the condition that-
2 [(a) the balance at the credit of such subscriber shall not at any time during the 3 years preceding the month of death have fallen below the limits of-
(i) Rs. 25,000 in the case of a subscriber holding a post in the Pay Band-2 (Rs.9,30034,800) or above and drawing a Grade Pay of Rs.4,800 p.m. or more as per Central Civil Service (Revised Pay) Rules, 2008;
(ii) Rs. 15,000 in the case of a subscriber holding a post in the Pay Band-2 (Rs.9,30034,800) and drawing a Grade Pay of Rs.4,200 p.m. or more but less than Rs.4,800 p.m. as per Central Civil Service (Revised Pay) Rules, 2008;
(iii) Rs. 10,000 in the case of a subscriber holding a post in the Pay Band-2, Pay Band-1 or Pay Band-1S (Rs.4,440-7,440) and drawing a Grade Pay of Rs.1,400 p.m. or more but less than Rs.4,200 p.m. as per Central Civil Service (Revised Pay) Rules, 2008;
(iv) Rs.6,000 in the case of a subscriber holding a post in the Pay Band-1S (Rs.4,4407,440) and drawing a Grade Pay of Rs.1,300 p.m. or more but less than Rs.1,400 p.m. as per Central Civil Service (Revised Pay) Rules, 2008; and
(b) the additional amount payable under this rule shall not exceed Rs.60000;]
(c) the subscriber has put in at least 5 years service at the time of his/her death.
NOTE :Pre -revised Scheme which existed before the Notification published in the Gazette of India vide SO 826 dated 25-4-1998 shall apply in case of death of subscriber on or before the publication of this date and to whom aforesaid amended Rule 33-B does not apply
NOTE 1- The average balance shall be worked out on the basis of the balance at the credit of the subscriber at the end of each of the 36 months, preceding the month in which the death occurs. For this purpose, as also for checking the minimum balance prescribed above-
(a) the balance at the end of March, shall include the annual interest credited in terms of Rule 11; and,
( b) if the last of the aforesaid 36 months is not March, the balance at the end of said last month shall include interest in respect of the period from the beginning of the financial year in which death occurs to the end of the said last month.
NOTE 2-Payment under this scheme should be in whole rupee. If an amount due includes a fraction of a rupee, it should be rounded to the nearest rupee (50 paise counting as the next higher rupee).
NOTE 3-Any sum payable under this scheme is in the nature of insurance money therefore, the statutory protection given by Section 3 of the Provident Funds Act, 1925 (Act 19 of 1925), does not apply to sums payable under this scheme.
NOTE 4-The scheme also applies to those subscribers to the funds who are transferred to an autonomous organization consequent upon conversion of a Government Department into such a body and who, on such transfer, opt in terms of option given to them to subscribe to the Fund in accordance with these rules.
(a) In case of a Government servant who has been admitted to the benefits of the Fund under Rule 35 or 35-A but died before completion of three years of service or as the case may be, five years of service from the date of his admission to the Fund, the period of his service under the previous employer in respect whereof the amount of his subscription and the employer’s contribution, if any, together with interest have been recovered, shall count for purpose of Clause (a) and Clause (c).
(b) In case of persons appointed on tenure basis and in the case of reemployed pensioners, service rendered from the date of such appointment on re-employment, as the case may be, only will count for purposes of this rule.
(c) The scheme does not apply to persons appointed on contract basis.
[NOTE 6-The Budget Estimates of expenditure in respect of this scheme will be prepared by the Accounts Officer responsible for maintenance of the account of the Fund having regard to the trend of expenditure, in the same manner as estimates are prepared for other retirement benefits.]
1. Inserted vide Notification No.13(2)-P&PW./88-E., dated the 2nd August, 1989, published as S.O. No.2002 in the Gazette of India, dated the 2nd September, 1989. Takes effect from the 1st January, 1989.
- Clauses (a) and (b) substituted vide Notification No.45/4/2008-P&PW(F), dated the 27th May, 2009, published as S.O. 1529 in the Gazette of India, dated the 6th June, 2009.