The same clause that applies for Class 1 Officers, which states that resigning employees are not eligible for arrears' payment, applies to Class II and Class III and IV of LIC and GIC employees too.
GIC comprises of 4 companies, New India Assurance, United India Assurance, National Insurance and Oriental Insurance Company. Besides, LICMF, GICHFL & LICHFL's employees would have also been affected by the same clause, which has been declared as ultra-vires by the Supreme Court in 2008. One can just imagine how many ex-employees, all together, in all these Life and Non-Life Public Sector insurance companies have been illegally deprived of their hard-earned dues! LIC has not divulged details regarding total number of ex-employees throughout the Corporation, since 1997, whose arrears have been repudiated and the amounts repudiated against each of their accounts, etc. in reply to my RTI application.
As even the Statutory Retirement benefits like Provident Fund and Gratuity would have been eligible for difference in payment as per revised rates, this repudiation, running to the tune of billions of rupees, is a scam of huge ramifications.
It is therefore very surprising that this issue has not been highlighted or debated about, anywhere in any print or electronic media, any time in the past, as per my knowledge, since 1997, when the first batch of payments to resigning ex-employees was repudiated.
I had sent the report contained in my first blog post to the Press Trust of India (Mumbai, Delhi, Kolkata, Chennai), The Times of India (Mumbai, Delhi, Kolkata, Chennai), Open Magazine, Mumbai Mirror (Their inbox was full, hence the message appeared as 'not delivered') and Youth Ki Aawaz portal. Not a single one of them replied back or acknowledged my e-mail, or got back to me for information, barring the Youth Ki Aawaz portal which also developed cold feet and refused to publish my report.
GIC comprises of 4 companies, New India Assurance, United India Assurance, National Insurance and Oriental Insurance Company. Besides, LICMF, GICHFL & LICHFL's employees would have also been affected by the same clause, which has been declared as ultra-vires by the Supreme Court in 2008. One can just imagine how many ex-employees, all together, in all these Life and Non-Life Public Sector insurance companies have been illegally deprived of their hard-earned dues! LIC has not divulged details regarding total number of ex-employees throughout the Corporation, since 1997, whose arrears have been repudiated and the amounts repudiated against each of their accounts, etc. in reply to my RTI application.
As even the Statutory Retirement benefits like Provident Fund and Gratuity would have been eligible for difference in payment as per revised rates, this repudiation, running to the tune of billions of rupees, is a scam of huge ramifications.
It is therefore very surprising that this issue has not been highlighted or debated about, anywhere in any print or electronic media, any time in the past, as per my knowledge, since 1997, when the first batch of payments to resigning ex-employees was repudiated.
I had sent the report contained in my first blog post to the Press Trust of India (Mumbai, Delhi, Kolkata, Chennai), The Times of India (Mumbai, Delhi, Kolkata, Chennai), Open Magazine, Mumbai Mirror (Their inbox was full, hence the message appeared as 'not delivered') and Youth Ki Aawaz portal. Not a single one of them replied back or acknowledged my e-mail, or got back to me for information, barring the Youth Ki Aawaz portal which also developed cold feet and refused to publish my report.
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