Updated on Oct 26, 2020 20:39:01

 

Employees of PACS will have insurance of Rs. 25 lakh : Sukhjinder Singh Randhawa

5 Dariyanews

5 Dariyanews

5 Dariya News

Chandigarh , 29 May 2020

The Cooperation Department has decided to get the employees working in the Primary Agricultural Cooperative Societies (PACS) insured on certain conditions on the pattern of the employees of the Co-operation Department. Earlier all the officials of cooperative institutions had insured their employees for one year to the tune of Rs. 25 lakh at their level. This was disclosed by Cooperation Minister Sukhjinder Singh Randhawa in a press communiqué released here today.S. Randhawa said that this demand was made by the Punjab State Cooperative Agricultural Service Societies Employees Union and as part of the commitment towards the PACS employees, it was decided to provide the benefit of insurance to them on the lines of Punjab Government/Cooperation Department so that the employees of PACS do not feel alienated.The Cooperation Minister further said that this insurance would be provided on the basis of all other conditions imposed on the insurance company by the Registrar of Cooperative Societies (RCS).The Managing Committees of the PACS, willing to insure their employees can pass a resolution keeping in view their financial situation. The decision to get the employees insured from any insurance company approved by the RCS as per the premium or less than the prescribed premium may be taken at its own level. The insurance company must have a valid license to operate in India and must have I. R. D. I. approval.S. Randhawa further said that whichever PACS has passed a resolution to insure its employees for Covid-19, the society has decided to insure Rs. 25 lakh insurance per employee. Rs. 1977 including Or less premium will be paid to the company. No higher premium should be paid. Each PACS will also consider the financial burden of paying premiums, taking into account its financial position, when making a decision/resolution to insure its employees. The PACS will cover the entire cost of insurance for employees under COVID-19 from their own resources.

 

 

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