Group Insurance Notification 2020 Punjab Government

Group Insurance Notification 2020 Punjab Government has uploaded here on this webpage. Therefore, The government has given new Group Insurance rates in 2020.

Group Insurance Notification 2020:

In addition, the government of Punjab has issued a Group Insurance Notification on 16 September. So, there are new revised rates of deduction in this notification. So, The Punjab govt will deduct GI on monthly basis with new rates. Therefore, all employees in Punjab may read carefully this notification given at the end of this page.

In other words, the government has started a new contract with state life insurance. The state life Insurance corporation is not a new corporation. Above all, It is working for the last 50 years or so in Pakistan. So, we can say that it is a reputed insurance corporation in the country. Therefore, the Punjab govt has started a new contract with this corporation.

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Revised Rates of Group Insurance:

However, the new deduction revised rates are as follows,

  1. Basic Scale 1 to 4    Sum Assured 150000  Monthly 67 rupees and annually 807

2. Similarly, Basic Scale 5 to 10        175000   Monthly 79 and annually 942

3. Basic Scale 11 to 15                 300000    Monthly 135 and annually 1614

4. Basic Scale 16            450000     Monthly  202   and annually 2421

5. Basic Scale 17            600000     Monthly  269   and annually 3228

6. Basic Scale 18           875000     Monthly  392   and annually 4708

7. Basic Scale 19           1050000     Monthly  471   and annually 5649

8. Basic Scale 20 and above             1250000     Monthly  560   and annually 6725

Group Insurance Notification 2020
Group Insurance Notification 2020

At last, The government of Punjab has issued the rates as per notification with effect from 1st July 2020.

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