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| 23. |
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TATA Defence Welfare Corpus Scheme (a) TATA Defence Welfare Corpus Scheme was created under the aegis of Army Central Welfare Fund to provide grant for higher education to widows and children of service personnel killed in operations and wives and children of service personnel disabled in operations and all Armed conflicts. The maximum tenure of grants is five years in each case and is as follows:-
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HIGHER EDUCATION GRANT |
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| (i) |
Higher education grant |
Tuition Fee + Rs. 5,000/-
books subject to a maximum
of Rs.40,000/-
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| (ii) |
Medicine for |
| (iii) |
Computer Science |
| (iv) |
Management Studies |
| (v) |
Legal Studies |
| (vi) |
Vocational studies |
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UPTO POST GRADUATION |
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| (i) |
Class I to XII |
Rs.5,000/- |
| (ii) |
Graduation |
Rs.8,000/- + Rs.2,000/- for books |
| (iii) |
Post Graduation |
Rs.10,000/- + Rs.5,000/- for books |
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TATA MERIT SCHOLARSHIP |
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| (i) |
BE (IT) & BE (Computer) |
1st |
-
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Rs.25,000/- |
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2nd |
- |
Rs.15,000/- |
| (ii) |
MBA/MCA |
1st |
- |
Rs.20,000/- |
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2nd |
- |
Rs.10,000/- |
| (iii) |
BHM |
1st |
- |
Rs.12,000/- |
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2nd |
- |
Rs. 8,000/- |
(b) Financial assistance for purchase of mobility equipment to disabled soldiers such as motorized scooter, wheel chair or Artificial Limb as follows: (i) Auto Transmission Scooters Up to Rs.50,000/-
(c) The applications for grant is required to be made on prescribed proforma to Dte of PS, through Zila Sainik Boards. The details of the scheme, if required can be had from Dte of PS at Air Headquarters.
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| 24. |
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Post Retirement Insurance Cover (PRIC) 99. AFGIS
| CATEGORY |
MINIMUM COVER |
OPTION I |
OPTION II |
PREMIUM (PER Lac) |
| OFFICER |
3,00,000 |
4,00,000 |
5,00,000 |
4,000 |
| AIRMEN |
1,50,000 |
2,00,000 |
2,50,000 |
3,750 |
| NCs(E) |
60,000 |
80,000 |
1,00,000 |
3,750 |
Note : The cover is for 15 yrs from the date of retirement and 50% of cover thereafter upto the age of 70 yrs. |
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| 25. |
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Retired personnel Investment Scheme
- Retired personnel and NOK of deceased AF personnel are eligible to become member of this scheme.
- Schemes : cumulative & non cumulative
- Deposits : Initially for 3 years
Renewal for 1/2/3 years (optional) Min Rs.30,000 – Max upto retirement Benefits in multiples of Rs.10,000
- Rate of interest is declared every year based on earning of the society
For current year Cumulative is 8.8% and for non-cumulative 8.5%
- Tax is deducted at source as prescribed by Central Board of Direct. Taxes (CBDT) unless form 15 H is submitted.
- Premature withdrawal permissible for any unforeseen commitments.
- Loans against FD is permissible to a maximum of 75% of deposit at the rate of 10% p.a.
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| 26. |
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House Building Loan. Personnel retiring within 10 yrs can opt to repay during their service period plus 10 years after retirement. They have to deposit equivalent amount of outstanding loan as on date of retirement in Retired Personnel Investment Scheme (RPIS) of Air Force Group Insurance Society. The interest charged for House Building Loan would be 8% p.a.
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| 27. |
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Financial Assistance to World War II Veterans/Widows IAFBA extends financial assistance in deserving cases to retired airmen who had served in the Air Force during the World War II and their widows. Under this scheme monthly grant of Rs.500/- p.m. is paid for life. |
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| 28. |
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Dwelling Units and Housing Subsidy for Widows. The aim of the scheme is to alleviate the sufferings of the widows of serving personnel who die in accident. Housing subsidy of Rs.1.5 lacs and Rs.1.00 lac is admissible to the bereaved wife of the officer and airman, NC (E) for acquiring dwelling unit from AFNHB/AWHO |
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