IRDA Said- Companies Bring Uniform Accident Insurance Policy

IRDA said- companies bring uniform accident insurance policy, the maximum will be from Rs 2.5 lakh to Rs 1 crore.

The insurance regulatory body IRDA has issued a guideline to all insurance companies in the country to formulate a private accident insurance plan, which has the same conditions and benefits for all companies and customers.

Through this, people will be strengthened in insurance and they will be helped to move towards insurance protection.

According to the draft, the minimum cover for the same accident insurance will be Rs 2.5 lakh and maximum Rs one crore.

Under the standard personal accident insurance, all the insured persons will come under the same provision. Clear provisions have been made from accidental death to permanent disability.

In the event of death and permanent disability due to an accident, the insurance customer will be given the full amount of insurance.

Special provision has also been made in the proposal for the education expenses of the two children of the accident victims.

The draft guidelines have been released by IRDA for comments from partners.

The partners can send their suggestions by December 18 for any kind of improvement. IRDA has directed to implement the proposed insurance scheme from 1st April next year.

In-hand salary of employees may be reduced from next financial year, this new rule is going to be implemented

There are two important news stories for salaried employees. One good and one bad.

The good news is that from next financial year, more amount will be deposited in the PF account of the employees, due to which they will get a large amount after retirement.

Another bad news is that it may reduce the salary they get in-hand.

Actually, the government had passed the Wage Code in Parliament last year. It will come into force from the next financial year.

The implementation of this wage code will directly affect the employees of the private sector. Let us know what is special in this wedge code.

According to the new wage code, all types of allowances to employees cannot exceed 50 percent of the total salary or CTC.

This means that 50 percent of the total salary or CTC of the workers will be the basic salary.