""3rd ROUND OF WAGE NEGOTIATIONS WITH 'GIPSA' AT HYDERABAD ON 03.03.2015 ""...""L.I.C. MANAGEMENT OFFERED WAGE REVISION @12.5% TO IT'S EMPLOYEES WITH SOME PRE-CONDITIONS""...""Lloyd's bullish on India, but wants Insurance Bill passed first -- The world's largest insurance market provider says it is ready to invest in India and is upbeat over the reforms momentum of the new government. However, Chairman John Nelson says his firm will wait for Parliament's approval to the Insurance Bill before investing in the country."""..."Competition Commission of India (CCI) has started probe against various public sector general insurers for alleged unfair business practices with regard to third-party administrators""..""It has been alleged the four companies dealing in health insurance business were not allowing third-party administrators or TPAs to work independently""..""INSURANCE BILL: A much-awaited Bill to raise the composite foreign equity cap in the insurance sector from 26 per cent to 49 per cent is likely to sail through in Parliament this session, following the Cabinet on Wednesday(10.12.2014) approving amendments to the Bill after the government got support from the Congress in this regard.""..“The Cabinet approved the incorporation of amendments suggested by a parliamentary select panel in the Insurance Laws (Amendment) Bill, 2008,” sources said. They added the Rajya Sabha was likely to take up the Bill next week''..."" FRIENDS: PLEASE GEAR-UP FOR IMMEDIATE TRADE UNION ACTION""...""New India MBS Trustee Election: 2015 will be held on 07th January, 2015."".PROUDLY PRESENT ‘NFGIE’ & ‘ AIGI SC/ST EWA’ JOINT PANEL IN NEW INDIA MBS TRUSTEE ELECTION: 2015-2019;.Candidates Names:: 1) DINESH HARISH JADAV::Code No.2; 2) SOPAN KESHAV PAWAR: Code No.5 and 3) SUBHASH GUNAJI KADAM: Code No.6 "".. REQUESTING "ALL NEW INDIANS" TO CASTE YOUR VOTE IN FAVOUR OF THIS PANNEL BY EXTENDING YOUR PATRONAGE""...""State owned New India Insurance provides for second opinion coverage, but on a case by case basis.""... ""FROM NOV.,2014 SALARY ALL PSU EMPLOYEES WILL GET 49 SLABS D.A."" HAPPY TO INFORM YOU ALL DUE TO CONTINUOUS EFFORTS PUT IN BY 'NFGIE', THE 'GIPSA' INSTRUCTED MEMBER COMPANIES TO TREAT "MBA" MARKS AS TECHNICAL QUALIFICATION INSTEAD OF ACADEMIC QUALIFICATIONS IN THE CURRENT YEAR PROMOTIONAL EXERCISE""...Hats off to "NFGIE"..."" Current year promotional exercise be over by 31st October, 2014. Current exercise will be on existing policy.Demanded full committee discussion in next round.""".DA INCREASED BY 34 SLABS FROM 1st AUG 2014"".''EPF Interest may be raised to 9 % for the year 2014-15 – EPF Interest for 2013-14 is 8.75%""...""INCOME-TAX SLAB MAY RAISE TO RS.3 LAKHS FROM EXISTING RS.2 LAKHS IN THE ENSUING BUDGET SESSION"".. PROPOSAL OF REVOKING TO 6 DAYS WEEK WORKING IS DROPPED BY MINISTRY""... "" 'NFGIE' IS VIGOROUSLY PURSUING ABOUT LONG PENDING WAGE REVISION FOR ALL 'PSU' GENERAL INSURANCE EMPLOYEES WITH CHAIRMAN,GIPSA AND FINANCE MINISTRY, IN THE WAKE OF FORMING OF NEW GOVERNMENT AT CENTER.....UNDERSTAND FROM RELIABLE SOURCES THAT "CHAIRMAN, GIPSA" IS ALSO VERY KEEN ON THIS MATTER. AND VERY SHORTLY ALL THE CHECK-OFF QUALIFIED UNIONS WILL BE CALLED FOR FURTHER NEGOTIATIONS"" . ... "" New India Registered 15% growth in premium; Premium in India : Rs.11540 Cr.; Global premium:Rs.14304 Cr. and profit after tax Rs.1089 Cr. for 2013-14 (.)""..."" United Registered a premium of Rs.9708.93 Cr with a net profit of Rs.527.60 Cr (previous year Rs.527.33 Cr.) for 2013-14 F.Y.-Growth rate @ 11%; The board has recommended a dividend of 20%for 2013-14(.)"" PF Election Result Declared in NEW INDIA our "NFGIE" Panel 2, 5, 7 & 8 win WITH THUMPING MAJORITY DETAILS as follows: BALLOT NO1089 ., NAME, NO. OF VOTES SECURED RESPECTIVELY:- 2 VITTHAL CHAVAN 8135; 7 ANIL SONAWANE 8114; 8 VENKITASUBRAMANIAN 8109; 5 RAVI SAWANT[V.A.] 8013; NOW "BVKS PANNEL" WHO LOST THE BATTLE ONCE AGAIN : 1 VIJAY AGATE 7431; 3 VIJAY DICHOLAKAR 7020; 4 SASI P R 6996; 6 DR AMRISH SINHA 6959. WE EXPRESS OUR SINCERE THANKS AND GRATITUDE TO ALL WHO SUPPORTED "NFGIE PANNEL" GOT ELECTED WITH THUMPING MAJORITY AND REPOSED CONFIDENCE IN 'NFGIE' WHO ONLY CAN PROTECT HARD EARNED PROVIDENT FUND OF EVERY NEW INDIAN.""

""Payment of Ex-Gratia for 2014-15 f.y. to eligible employees in PSGI Comapnies - Cleared by GIPSA"...""NFGIE"" invited for Structured Meeting by New India Management on 14th Feb.,2015, to discuss various Important Policy matters""..."" Insurance companies offer cover for second medical opinion""..""RBI ALLOWS FPIs/FIIs and NRIs TO INVEST UP TO 26% UNDER THE AUTOMATIC ROUTE SHALL BE PERMITTED IN THE INSURANCE AND ALLIED ACTIVITIES...W.E.F. 4TH FEB.,2014 ""...."" The AICPI for Jan., 2014 :237 and for Feb.,2014 at :238 points, For March expected 239 points.."".."" The country's largest non-life company — New India Assurance — will soon seek the regulator's approval to sell a combined policy that covers personal accident, household and health insurance.""...."Retirement fund body Employees Provident Fund Organisation (EPFO) on Monday(14TH JAN.,2014) announced a rise in interest rate on provident fund (PF) deposits to 8.75 per cent for 2013-14, to benefit 50 million subscribers""..... "" SERVICE IS THE GATE WAY TO GROWTH "".."23rd JULY IS NEW INDIA'S FOUNDATION DAY(23rd JULY,1919)""..""WHETHER CLIENT IS BIG OR SMALL SERVE TO ALL""..


Sunday, March 1, 2015

More deductions but no I-T slab change: What Budget 2015 offers salaried class

Finance Minister Arun Jaitley did not really bring in acche din for the salaried class as the income tax slabs remain unchanged but it did offer some respite by doubling monthly transport allowance ( which is tax free) to Rs 1600 as well as offering deductions under section 80 (D)
Firstly, Medical reimbursement/Mediclaim deductions under section 80D have been raised from Rs 15,000 to Rs 25,000; and Rs 30,000 for senior citizens.
Secondly, Disabled and very senior citizens will get higher deductions
Thinkstick Images
Thinkstock Images
"For senior citizen above the age of 80 years, not eligible to take health insurance, deduction is allowed for Rs 30,000 toward medical expenditure. Deduction limit of Rs 60,000 on expenditure on account of specified diseases is enhanced to Rs 80,000 in the case of senior citizens," the government release said.
Additional deduction of Rs 25,000 is allowed for differently-abled persons, increasing the limit from Rs 50,000 to Rs 75,000. It is also proposed to increase the limit of deduction from Rs 1 lakh to Rs 1.25 lakh in case of severe disability.
Thirdly, Additional deductions of Rs 50,000 per annum will be available for contributions to pension schemes.
Fourthly, Tax-free travel allowances raised from Rs 800 pm to Rs 1,600
What this means is that individual taxpayers can effectively have a tax-free income of Rs 4,44,200 if they use all deduction options.
Jaitley also proposed to provide that investment in Sukanya Samriddhi Scheme will be eligible for deduction under section 80C of the income-tax and any payment from the scheme shall not be liable to tax. 
However, there have been no changes in the personal income tax exemption limit. Last year Jaitley had raised the personal Income Tax exemption limit by Rs 50,000 to Rs 2.50 lakh and also raised by same amount the exemption from payment of Income Tax on savings to Rs 1.50 lakh. Jaitley had also raised the tax exemption limit on repayment of housing loans to Rs 2 lakh from Rs 1.5 lakh but hut apart from deductions no other sops for the salaried class have been offered.
Here's the bad news for the super rich though: Wealth tax has been replaced with an additional 2 percent surcharge on the super rich.
"Jaitley proposed to levy a surcharge at the rate of 12% on individuals, HUFs, AOPs, BOIs, artificial juridical persons, firms, cooperative societies and local authorities having income exceeding Rs 1 crore. Surcharge in the case of domestic companies having income exceeding Rs 1 crore and upto Rs 10 crore is proposed to be levied @ 7% and surcharge @ 12% is proposed to be levied on domestic companies having income exceeding Rs 10 crore," said a government released.

Sunday, February 22, 2015

NFGIE next Conference at Dehradoon on 24th & 25th ,April, 2015

19TH FEBRUARY, 2015.

You all know that the Structured Meeting – 2015 scheduled on 14.02.2015 leaders of GIC Employees’ Union from various parts of the country attended the said meeting.Taking the opportunity a meeting of the Standing Committee of the Central Secretariat was held to transact the following Agenda:

1.      Self Introduction
2.      MBS Election 2015
3.      Organizational Matter
4.      Fund Position
5.      Conference – NFGIE, Date and Venue
6.      Structured Meeting
7.      Miscellaneous.

Meeting was presided by Mr. T K Sathis Kumar, Working President, NFGIE.  The meeting took stock of the situation after MBS Election 2015.  All the units were praised for their effort in making NFGIE and AIGISCSTEWA for successful in the MBS Election.  Analyzing the result Mr. T K Sathis Kumar read some statistics showing the robust presence of NFGIE in all the southern states and some other parts of the country.  Emphasis was given for strengthening the areas where NFGIE suffered a setback due to the betrayal of some of the leaders.

In the Organizational matters stress was laid for strengthening the Organization in Western Zone specially Mumbai.  Mr. Vasant Khade , General Secretary, GICEU(WZ) was requested to convene a meeting of Western Zone at the earliest.

The Financial Position of the NFGIE was informed and to meet the outstanding liabilities it has been decided to go for pre-mature encashment of Fixed Deposit of Rs. 1.0 lac. 

All of you are aware, that the last Conference of NFGIE was held at 5th &6th October, 2012 at Hyderabad and in the meeting it has been decided to hold the next Conference at Dehradoon on 24th & 25th ,April, 2015.  GICEU, Dehradoon will be the host Region. All affiliated units are requested  to confirm their attendance at the said meeting and booking tickets.  Delegation Fee per head will be communicated to you later on.

With regards,
Sd/- xx xx xx,



Dear friends,

The Structured Meeting of NFGIE with the New India Management was held as Scheduled on 14th February, 2015 at Head Office.

Apart from the undersigned, M/s. T K Sathish Kumar, Working President, NFGIE, Mr. V. Venkatesh Kumar, Organising Secretary, NFGIE, Mr. T G Gopalkrishna, General Secretary, GICEU(AP & Vizag), Mr. K Badrinarayan, GICEU, (Chennai), Mr. Rajiv Singh, General Secretary, GICEU (Kanpur), Mr. V P Singh, General Secretary, GICEU(Ludhiana), Mr. O P Rajodia, GICEU, (NORTHERN ZONE) attended the meeting.  From the Management side Mr. G. Srinivasan, CMD, Mr. P. Nayak,GM(P), Mr. Sanat Kumar, GM and Mr. Rakesh Kumar, GM and host of other GMs and DGMs. I hope you have already been communicated through E-mail the proceedings of the Structured Meeting just after the meeting.  I like to further add that the agenda that was mailed to you on 30th January, 2015 was slightly altered as suggested in the Central Secretariat Meeting held on 13.02.2015.

At the outset CMD on behalf of the management welcomed the delegates and provided inputs regarding the changing scenario in General Insurance industry especially after the recent promulgamation of Ordinance on Insurance Laws and asked for the co-operation from all concerned to face the challenge.

On behalf of NFGIE, it was stated that after a long time New India Management called NFGIE for Structured Meeting.  Though management intended to call NFGIE for Structured Meeting in the year 2013, since it was not feasible for NFGIE to participate in the said meeting due to pre-occupation of the NFGIE leaders with PF election.  Demand had been placed to convene Structured Meeting once in a year to have a better exchange of views on employees’ grievances and sharing of them with management.  It was also reminded that the NFGIE is the oldest Union of the Industry having significant presence in all classes of employees and officers covering from Class-I to Class IV.  The members of NFGIE working across the whole country are instrumental for the robust performance of the company during the last few years.  Considering this factors management should allow a larger number of delegates from NFGIE.  It is unfair to equate them with other unions not having the membership pan India or membership is limited to a particular class only.  It was explained that Agenda contents points pertains to various anomalies relating members concerned.   Hence, it has been brought to the attention of the Top Management for redressal of grievances. 

Long pending issue of inclusion in Pension Scheme – 1995 of FTS who have been upgraded from PTS was elaborately explained and the pathetic and hapless position of the existing FTS was also narrated.  Management expressed willingness to consider the case positively. 

NFGIE raised the issue for the improvement of connectivity of CWISS to provide better service to the customer all over the country.  Management requested us for written submission on the same.

Management has agreed to examine the feasibility of deduction of union subscription through salary.

Management expressed positive response on the issues like Domiciliary Lumpsum Payment to both the employees (Husband & wife) employed in the company or other PSGI  where one is in the Class-I cadre and the other is in class-III, Completion of  Promotional Exercise of Class-III & IV within the month of June every year, inclusion of Crones’ Disease & Spinal Surgery in the list of major disease for the purpose of TMP. 

On our demand for recruitment of class-II and also one more option for conversion from class-III to class-II Management informed that a committee has been formed to frame the modus operandi for further induction in the class-II cadre.

Regarding training of all employees Management informed that the exercise is already in process but we urged the HO to oversee the implementation of programme in all ROs. 

Management showed positive response regarding Special Promotion in the cadre of Substaff / RC to Assistant who are Graduate .

The problems faced by the employees whilst deputed in General Election Duty by was raised.  In this context Special Leave for those who have suffered any injury during such period and payment of uncovered medical expenses was discussed. To provide the necessary relief Management agreed to examine each case on merit basis. Even the anomaly on payment of Honorarium on election duty between New India and LIC was pointed out and request was made for the removal of the anomalies.

The need to modify the LTS Circular was stressed and the Management agreed to take care of the same.

On our demand for  increase in amount of advance against natural calamities Management has stated to decide on merit of each case.

On Compassionate Appointments  for cases before November, 2014 the Management expressed their inability to all such cases. However,  Management was asked to find out some ways and means for giving appointment.

Implementation of Ministry’s Circular on posting of Female Employees on appointment,  promotion and transfer,  Management is still taking up the issue with the Ministry to frame Policy in this regard.  Our request was to expedite the process.

Regarding allowing Incentives to all the employees the Management will be taking up the matter appropriately and some measures will be adopted by them.

On our demand  for own TPA, Management informed that it is expected that own TPA will be floated within 4-5 months.

Management agreed to consider our Proposal for inclusion of physically and mentally retarded  children of employees aged more than 25 years in Staff Group Mediclaim

Demand was placed for inclusion of left out retirees/family members of the deceased employee and for another option for change of Sum Insured under   Staff Group Mediclaim,  Management has agreed to review .
On the demand   for another Option for Pension Scheme-1995 for all left out employees in the industry Management stated that they are pursuing with the  Ministry and hopeful of getting  positive response.

 Management has agreed to consider our views on PF matters such as upward revision of quantum of PF loan on medical grounds, increase  in the number of  Non-refundable PF Loan on medical grounds from three to four times in the service period, adjustment of existing balance of Refundable PF loan.  

Our demand for formation of Women Forum at HO/RO level, Renovation of Staff Quarters, Retirement training to all have evoked positive response from Management’s end.

We have demanded proper infrastructure to all Micro Offices all over the country. We have pointed out that in some of the Micro Offices there is lack of basic amenities like toilet.  Management has stated that if the Micro Office has problem with the toilets such offices should be shifted. 

            Further, we have demanded increase in cost of shoes, Umbrella and stitching Charges , increase in allowances for TSS, declaration of Region-wise Restricted Holidays , all offices including Micro offices should be properly furnished with AC. Management agreed to  give due weightage on points raised and  further  agreed to  increase  incentives to employees posted in Micro Offices and also agreed to post one additional manpower if the premium crosses Rs. 50.0 lacs.  We have demanded not to post any female employee in the micro offices and the management assured not to post of any female employees forcefully.  We have again demanded for representations of all the checked off unions in the running of the HO Sports Club.

Our demand on MBS points for increasing number of Trustees, management expressed their willingness to review in the next term. We have also demanded upward revision of benefits of MBS.  We have also demanded that as a Public Sector Undertaking our Bankers should be Public Sector Banks.

 We have also demanded sanctioning of Vehicle loan to newly upgraded FTS as they have already  completed  five years of service.

Friends, we assure you that NFGIE will painstakingly pursue with the NIA Management to make effective the issue discussed in the Structured Meeting and let you know in due course.
Sd/- xx xx xx

Sunday, February 15, 2015


1.       Pension Scheme – 1995 be applicable to newly upgraded FTS from PTS
Management HAS  agreed to consider

2.       Deduction of Union Subscription through Salary.
Mgt.has agreed to examine the feasibility

3.       Connectivity in CWISS
Matter will addressed suitably  and Mgt. appreciated our concern and listened to our  suggestions for improvements.

4.       Modification of  recent circular  in Leave Travel Subsidy 

Apprehension expressed by NFGIE in the recent amendments in LTS will be taken care.

5.        Payment of Domiciliary Medical expenses to both class-III and his or her spouse working as Class – I
Management accepted our views and necessary instructions will be passed.

6.       Officer in New India Retired employees  be allowed to act as Defence  Assistant

Management  expressed  reluctancy

7.       Election Duty.
Examine the matter  issue wise

8.       Promotional Exercise for Class III & IV has to be completed each year by June and no identification of vacancies.

Management has  agreed to consider our views and all possible measures will be taken to complete the exercise in time.

9.       Sanction of Advance in case of Natural calamities.
Inspect and decide as per merit of each case

10.   Inclusion of Crone’s disease and spinal surgery in the list of major disease  for the purpose of TMP.