In exercise of the
powers conferred by clause (g) of sub-section(1) of Section 16 read
with section 17 A of the General Insurance Business (Nationalization)
Act, 1972 (57 of 1972), the Central Government hereby frames the following
Scheme further to amend the General Insurance (Rationalisation of Pay Scales
and other Conditions of Service of Officers) Scheme, 1975, namely :- (1) This Scheme may be called the General Insurance (Rationalisation of Pay
Scales and other Conditions of Service of Officers) Amendment Scheme, 2021. (2) Save as otherwise provided hereinafter, the provisions of this Scheme
shall be deemed to have come into force on the 1st day of July, 2017. In the General Insurance (Rationalisation of Pay
Scales and other Conditions of Service of Officers) Scheme, 1975, in the
Fifteenth Schedule,- (i) in Item VI, after the words, 'this Schedule', the words and figures, 'up
to 30th June, 2017' shall be inserted; (ii) after Item VI, the following items shall be inserted, namely:- "VII House
Rent Allowance: (1) With effect from 1st day of July, 2017, the Chairman-cum-Managing
Director who has not been provided with a rent free residential accommodation
shall be paid a House Rent Allowance (HRA) per month at the rate of 24% of
Basic Pay in a city classified as 'X' by the Central Government. (2) The rate of HRA will be revised to 27% of Basic Pay when Dearness
Allowance (DA) crosses 25% and further revised to 30% of Basic Pay when DA
crosses 50%. VIII Transport
Allowance: With effect from 1st day of July, 2017, the
Chairman-cum-Managing Director, who is otherwise entitled to the use of
official car for travel between residence and office, shall have an option to
draw transport allowance at the rate of Rs. 15,750 per month plus Dearness
Allowance thereon provided he does not make use of official car for travel
between residence and office. IX Children
Education Allowance: (1) With effect from 1st day of July, 2017, reimbursement of Children
Education Allowance to the Chairman-cum-Managing Director shall be up to the
maximum of Rs. 2,250 per child per month subject to the maximum of two
children: Provided that if the child is residing in hostel,
hostel subsidy shall be reimbursed up to the maximum of Rs. 6,750 per child per
month, so, however, that both the Children Education Allowance and the hostel
subsidy shall not be availed concurrently. (2) The Children Education Allowance or the hostel subsidy may be availed
for two eldest surviving children. (3) The above limits shall be automatically raised by 25% every time the
Dearness Allowance goes up by 50%. (4) If spouse of the CMD is a Government servant, only one of them shall
avail reimbursement under Children Education Allowance or hostel subsidy. (5) The reimbursement of Children Education Allowance for differently abled
children shall be payable at double the normal rates prescribed subject to an
annual ceiling of Rs. 54,000. X Other allowances
not specifically included in this Schedule: The payment of other allowances to the
Chairman-cum-Managing Director, not specifically mentioned in this Schedule,
shall be made as admissible in the case of Officers in Higher Administrative
Grade on the basis of the Central Civil Services (Revised Pay) Rules,
2016". GENERAL
INSURANCE (RATIONALISATION OF PAY SCALES AND OTHER CONDITIONS OF SERVICE OF
OFFICERS) AMENDMENT SCHEME, 2021
PREAMBLE