a Annexure to HRM Circular:51 : dated

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Kerry Ball
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1 GSLI ) Enrollment of new recruits who have joined the services of the Bank between and : a) The application to enroll as a member of the GSLI Scheme, irrevocable letter of authority to deduct monthly premium from salary and the nomination form are hosted in the HRM Online Website. b) The staff members/officers who have joined the services of the Bank, between and should enroll themselves for the scheme by making use of this online registration facility. All the new entrants should complete this process on or before 10 th August c) Submission of the application and nomination in the Website should be authorized by the Branch Manager. After authorization, pre-printed application and nomination forms will get generated. On authorization a reference number will be generated. A hard copy of the nomination, bearing the system generated reference number, duly witnessed by two persons and authenticated by the BM/ABM should be forwarded to CO/HRM GSLI Section. Nomination forms not duly filled in/ not witnessed/ not authenticated will not be taken as valid nomination. Necessary print-outs may be taken out and one set of the same should be forwarded to CO HRM duly signed by the staff member and authorized by the Branch Manager. d) Enrolment as member of the GSLI is made compulsory and the monthly premium will be deducted from monthly salary. e) Three months arrears premium along with monthly premium for July 2013 shall be deducted from the salary of July Thereafter, there will be regular deduction of monthly premium for the insurance cover opted by the employees. Forms to be submitted by all new recruits a) Application b) Irrevocable Letter of Authority c) Nomination The Savings/Risk ratio for the GSLI premium amount is subject to change every year depending upon the mortality rate arrived at by LIC. LIC of India has informed that the Savings Risk ratio for the year as 54:46 for Award Staff and 73:27 for Officers.

2 2) Change of Assured for Promotees (Officers and Award Staff) who have got promoted between to The promotee Officers / Clerks will have to switch over to the corresponding category in the higher grade compulsorily. For the promotee Officers / Clerks, the details of their revised Assured and irrevocable-letter-of-authority are hosted in the HRM website under GSLI Tab. The staff members concerned have to take out a print out and send a duly filled-up form to CO HRM/GSLI Section without fail before 10 th Aug A hard copy of the nomination, bearing the system generated reference number, duly witnessed by two persons and authenticated by the BM/ABM should be forwarded to CO/HRM GSLI Section. Nomination forms not duly filled in/ not witnessed/ not authenticated will not be taken as valid nomination. Necessary print-outs may be taken out and one set of the same should be forwarded to CO HRM duly signed by the staff member and authorized by the Branch Manager. The nomination now submitted will supersede the earlier one and will be binding. 3) Importance of continuous remittance: a) The scheme is introduced in our Bank to have low cost premium using the benefit of discounts available to groups under LIC Schemes. The Scheme remains as fully contributory by the staff members. Hence the members of the GSLI Scheme should realize the importance of keeping the insurance cover in force always by remitting the premiums in time. b) LIC of India has communicated that if premium is not received in respect of any member for a continuous period of six months, then the said member shall cease to be covered under the Scheme and will not be allowed re-entry into the Scheme. c) Hence, Staff members who proceed on EOL / placed under Suspension / under LOP and staff who are not eligible to be paid monthly salary for whatever reason or staff members whose monthly salary is not sufficient to recover the GSLI monthly premium, shall have to make their own arrangements for the continuous remittance premium to keep the cover under the Policy in force. In case of member proceeding on EOL, advance payment in full can be made by contacting CO/HRM Dept-GSLI Section.

3 4) Other Important Points: The membership of GSLI scheme shall automatically cease immediately upon the separation of the staff from the Bank on account of retirement / death / resignation /VRS / cessation / termination / separation / dismissal / CRS/ removal / discharge etc. a) In the unfortunate event of an employee dying in harness, the family members of the deceased staff will receive not only the Insurance cover from LIC through our Bank, but also the accumulated savings portion. b) In the case of death on account of accident the family members of the deceased staff are eligible to receive twice the amount of the Assured by LIC and the insurance company dealing in Accident Benefit as on that date, will settle the claim. c) In the case of death due to accident, the same should be informed immediately to CO:HRM-GSLI section who in turn will be communicating to the insurance company and arrange to send the required forms for claiming the insurance amount. We give below the address of the Insurance Company for any communication with regard to accident death. In case of Fatal-Accidents (Death) M/s. United India Insurance Co: Ltd, DO:00004 Lakshmi Bhavan, 3rd Floor, 609-Anna Salai, Thousand Lights, Chennai Claim application should be submitted within one month of accident through CO:HRM GSLI section only under copy to Zonal Office. Claim application for fatal accidents should be accompanied by 1) Death Certificate 2) Post-mortem report 3) Copy of FIR with Police 4) Police Inquest report 5) Computerized salary certificate of previous month and last two months attendance Sheet 6) Legal heir ship / Succession certificate for legal heirs from competent authority. Of the above, document nos: 1 to 4 MUST be NOTORISED and Authenticated by the Branch.

4 All the death claims (TWO copies) with the above documents listed should be sent to the following address for onward transmission to the insurance company. INDIAN BANK Corporate Office Human Resources Management Department GSLI Section Avvai Shanmugam Salai Royapettah, Chennai In the unfortunate event of death by accident of employee who got promoted between to , the cover under sum shall be as applicable as on by both insurers *******************

5 1) Newly recruited Award Staff members / Officers Table-1 Category Sub-staff / Armed Guard / Part Time Sweeper Clerks / Part Time Clerks Risk Savings Portion Accident Benefit payable Officers ) Switch over to the relevant category on promotion Clerical to officer Existing (Automatic Switch over on promotion) Sub staff to Clerk Existing (Automatic Switch over on promotion) Table-2 Table-3 3) Enhancement of life cover Officers Officers Existing Assured 4,00,000 6,00,000 6,00,000 8,00,000 8,00,000 10,00,000

6 An overview of payable (Officers) Existing paid so far Including AB premium (Automatic Switch over) Risk Savings Portion Accident Benefit premium payable An overview of payable (Award staff) Existing paid so far Including AB premium (Automatic Switch over) Risk Savings Portion Accident Benefit payable

1) Enrollment of new recruits who have joined the services of the Bank between and :

GSLI 2012-13: 1) Enrollment of new recruits who have joined the services of the Bank between 01.04.2011 and 31.03.2012: The application to enroll as a member of the GSLI Scheme, irrevocable letter of authority