"" NEXT ROUND OF DISCUSSIONS WITH GIPSA ON 04TH, 5TH & 6TH nOV., 2015 AT HOTEL GOLCONDA,HYDERABAD- NFGIE SLOT FOR DISCUSSIONS ON WAGE REVISION WITH GIPSA AT 2 PM ON 04.11.2015""...""Received a call from Mr A K Singhal, Advisor, GIPSA to our National Federation General Secretary, Mr P S Bajpai regarding the next round of Wage Talks on 29th October 2015 (Thursday) at Mumbai. Detailed Circular follows.""..."" We have been informed by Mr. Vasant Khande,Mumbai that Mr. Ashish Shelar,MLA and BJP President of Mumbai is going to attend our NFGIE conference on 1st October,2015 in Chennai""...""Wage revision and Pension Option – Programme of Agitation::: 1. Lunch Hour demonstrations in all centres on 15th and 23rd September.2. Signature campaign (memorandum addressed to Finance Minister) to complete by 23rdSeptember.;3. No late sitting in offices and no work on Saturdays, Sundays and Holidays w.e.f. 23rd September, 2015;4. Joint Employees meetings in all offices to campaign;5. Perspective of strike actions in October ""......"23RD JULY IS NEW INDIA'S FOUNDATION DAY(23RD JULY, 1919). ON THIS HAPPY OCCASSION, LET ALL NEW INDIANS TO RE-DEDICATE THEMSELVES ONCE AGAIN TO BRING BACK IT'S GLORY AND TO RETAIN NO.1 POSITION WITH PROFITS

""NEW INDIA ASSURANCE BEATS COMPETITION, GETS $9.5 BILLION AIR INDIA DEAL. One of India’s biggest public sector general insurer, New India Assurance (NIA) led consortium of public sector insurance companies has been awarded the contract to insure Air India’s huge fleet of 126 aircrafts worth 9.5 billion dollars. The consortium outbid the tender submitted by private general insurance companies, for this contract floated by Air India. NIA will insure Air India for 9.5 billion insurance cover for a premium of $22.5 million, which would be a one of the biggest aircraft insurance deals in the whole of Southeast Asia. PSU insurers continue to insure Air India for 4th year in a row"".....""Thank u all for staging a successful DHARNA today (06.7.2015) all over India as part of JFTU programme. At Mumbai we met Chairman GIPSA who informed that ministry is insisting on wage settlement on bank line only. Still they are pursuing with the ministry for getting sanction for a better package for PSGI Companies citing various factors. Due to this GIPSA is delaying resumption of wage negotiation. More stringent TU action is needed by JFTU against Ministry of Finance stand. JFTU will decide its further programme....Than 'Q'...Sujit Bagchi,General Secretary, "NFGIE""...""


Friday, November 13, 2015


What is Insurance?
It is a system by which the losses suffered by a few are spread over many, exposed to similar risks. Insurance is a protection against financial loss arising on the happening of an unexpected event.
Why do I need Insurance?
Insurance is a hedge against the occurrence of unforeseen incidents. Insurance products help you in not only mitigating risks but also helps you by providing a financial cushion against adverse financial burdens suffered.
What does General Insurance do for me?
Accidents... illness... fire... financial securities are the things you'd like to worry about any time. General Insurance provides you the much-needed protection against such unforeseen events. Unlike Life Insurance, General Insurance is not meant to offer returns but is a protection against contingencies. Under certain Acts of Parliament, some types of insurance like Motor Insurance and Public Liability Insurance have been made compulsory.
How much Insurance do I need?
It is very important to have adequate amount of coverage for each insurance policy. For any asset or property insurance, the value of the asset based on market value or reinstatement value should be taken into consideration before deciding Sum Insured. If the Sum Insured is not adequate, the percentage representing the uncovered portion of the asset is to be borne by the insured.
What all can I get covered under insurance?
Almost everything that has a financial value in your life and has a probability of getting lost, stolen or damaged, can be covered through insurance. Property (both movable and immovable), vehicle, cash, household goods, health, dishonesty and also your liability towards others can be covered.
Why should one cover oneself immediately?
Accidents and mishaps can occur anytime and anywhere. It is important to identify the risks faced and insure oneself against these at the earliest.
What is Premium?
Premium is the fixed amount of sum paid over the period by the insured to the insurance company to take insurance policy and to complete the contract of insurance.
Why should I fill up proposal form for buying Insurance?
Insurance is a contract between the insured and the insurer. The proposal form is the basis of contract and it contains all the required information for the preparation of the policy which is a contract document.
What is Underwriting?
It is the consideration of material fact to asses the risk and to take the decision whether to accept the risk for insurance contract and if so at what rate of premium.
What is deductible?
The amount, which the insured has to bear in all cases and this amount is first, deducted from the total assessed payable claims amount before determining insurance company's liability.
What is Reinsurance?
It is an arrangement by which insurance companies spread their risk with other underwriters or reinsurance companies called Reinsurance.

6 Things you must know about Employee Provident Fund

The Employee Provident Fund (EPF) is one of the most common forms of investment among salaried individuals. A small part of your salary is invested in EPF and that amount is matched by your employer every month. 
The employees and employers contribution is maintained by the Employees Provident Find Organisation (EPFO), under the administrative control of Ministry of Labour and Employment, Government of India.
Here’s all you need to know about Employee Provident Fund :
EquitySince the EPF is invested in fixed income alone, it is expected to offer a good rate of return when invested in equities. The EPFO has also started investing in stock market through exchange-traded funds. The government has approved for 5-15% of EPF money to be invested in the volatile stock market.
NominationDid you know that you can assign a nominee for the amount of provident fund you’ve been investing every month? The nominee listed in your account will be contacted at the time of death and handed over all your money. The Form 2 provided by the EPFO department will allow you to nominate and update nomination changes.
Employee Pension Scheme (EPS):  12% of your salary every month goes into your provident fund. However, out of the money your employer matches, 8.33% of it or a maximum of Rs 1,250 goes into your Provident fund and the rest into your pension scheme. You are liable for pension only if you’ve survived 9.5 years of work life and your EPF has been transferred when you changed jobs.
Withdrawal: Did you know that it’s illegal to withdraw your EPF amount when you’re switching jobs? Yes, you can only withdraw your provident fund money if you don’t have a job at the time of withdrawal. You are only supposed to transfer your EPF account when you are changing jobs.
Opt out of EPF: If your basic salary is more than Rs 15,000 then you have an option to opt out of employee provident fund. However, you will have to make this choice at the start of your job. If you’ve been a part of the EPFO family even once, then you don’t get the choice of opting out.
RTI: If there is any kind of information you would like to know about employee provident fund, all you have to do is access your right to information. You can file an RTI application for any issues regarding your provident fund, be it transfer, withdrawal or balance enquiry.

Thursday, November 5, 2015


Dear Friends,

Further to our earlier news we are giving some main issues discussed with jointly
with GIPSA Management.. Mr Sujit Bagchi , President and Mr P S Bajpai, General Secretary on behalf of NFGIE attend the meeting.

Outcome of the Jt. . meeting
... Demands for HRA and CCA without ceiling 
Education Loan for children with 8.5% interest.
Cash handling allowance for MO
Newspaper reimbursement for Class III & IV
Upto 3 days SL without Medical Certificate.
Lunch Coupon --- are some of the benefits that they may be mooted after consultation with LIC.
Denied :  LTS Encashment.

Further revision of Basic and DA portion of FPA

Management will have a round of discussion on amendments of Promotion Policy
PLLI may be split into Profit linked and Productivity Linked.
Seperate Scheme for MO incentives. Paternity Leave  will be decided in GM(P)
meeting  seperately.

Detail circular follows.



Tuesday, October 20, 2015


19 October 2015 

The Principal Office Bearers of All Check Off Qualified Unions/Associations of Member Companies,

Dear Sir,

Please refer to the discussions we had in the Meeting held on 3rd March, 2015 at Hyderabad on the subject, at which lot of ground was covered by both the sides and it was agreed to hold further discussions to cover the rest of the ground to reach finality on the issue. 

Keeping in view the observations made in the said Meeting, the Governing Board of GIPSA, in telephonic mandate to us, has desired us to organize the next round of deliberations on the subject, at which the CMDs would be meeting the Check Off Qualified Unions/Associations of our Member Companies in a Joint Meeting.  

The Joint Meeting of the CMDs with the Unions/Associations is scheduled to be held from 10.30 a.m. onwards on 29th October, 2015 at Lotus Room, Hotel Trident, Nariman Point, Mumbai, at which each Union/Association is to be represented by 02 Office Bearers. 

The Meeting shall be followed by, and conclude with, lunch.
We would request you to kindly attend the said Joint Meeting and join us for lunch accordingly and nominate your 02 Office Bearers for the same per return of mail.

In view of the short notice for the said Meeting, in case journey tickets for any of  your 2 delegates are not available by the entitled mode of travel, they may avail air travel by the apex fare by following the procedure  and approaching the respective competent authority prescribed under the Rules for attending this meeting, for which purpose a copy of this mail is also being endorsed to GMs (P) of our Member Companies.

We look forward to your constructive participation and fruitful discussions at the Meeting.


A.K. Singhal
General Insurers' (Public Sector) Association of India
Ground Floor, Gate No. 2, Jeevan Tara Building,
Parliament Street, New Delhi-110001
Tel. No. 011-23744591, Fax No. 23744599
Mob. No. 83350-80094 & 93503-55005