POSTAL DEPOSITS-TAX DEDUCTION AT SOURCES CIRCULAR FROM I.T.DEPT.

Group Insurance Scheme

GROUP INSURAMCE SCHEME FOR CONFIRMED TIED AGENTS INCREASED TO RS.10,00,000 FOR MORE 10 YEARS SERVICE

LETTER ADDRESSED TO MRB.V..NAIK , M.P. BY OUR SECRETARY GENERAL

Remittance of Cash Collection of Empowered Agents in Corp.bank

Empowered agents-Facility of Net Banking

To
All  Empowered Agents,
 
RE: Facility of Net Banking.
 
The premium collected at the premium point is to be remitted to the LIC within 48 hours.
 At present there are following 3 ways to remit.
 
1)    Deposit at LIC Branch Cash Counter.
2)    Cash Deposit to be remitted in Axis Bank Branch or Corporation Bank Branch.
3)    Transfer of fund from the account of empowered agent to LIC’s Account
    through net banking in authorized Banks.
 
Now IRDA has issued instructions that the premium collected by authorized agents is to be remitted within 24 hours.  So it is important that the mode of remittance has to be quick and fast. 
 
Since the remittance is to be made within 24 hours with effect from 1st October 2015, as per IRDA guidelines, you are hereby advised to use net banking facility for cash transfer.  We may inform you that as soon as you transfer the money through net banking, your cash limit will be restored.
 
Net Banking Guide is already available in your portal.  For any assistance, please contact your Branch Manager/Manager(CLIA) and operationalise transfer of premium collected through net banking with immediate effect.
                                                                     
EXECUTIVE DIRECTOR (MKTG/CLIA) 

Collection of Delegate Fee for CM Club Pre convention

LIAFI-SG/081/15                                                                                                                               1 September 2015

TO

LIAFI OFFICE BEARERS

ZONAL PRESIDENTS / SECRETARIES

DIVISIONAL PRESIDENT/ SECRETARIES & LIAFI EC MEMBERS

Dear Sirs,

Sub: Collection of Delegate Fee For Pre CM’s Club Convention.-reg

I request all of you to read this letter attentively and give your opinion. 

Prior to 1990 Delegate Fee of Rs. 100/- used to be collected at Pre Convention venue for meeting the expenditure. Kindly note that only one CM’s Club Convention used to be conducted therefore only one pre-club convention.  Financial burden was not there on LIAFI.

In the first EC Meeting held at Bhopal after Shri. H.M. Jain and Shri. N.C. Chandak became President and Secretary General of LIAFI respectively it was decided to collect an amount of Rs. 500/- as Patron Membership for only three years. It had to be continued regularly since the activities of Federation grew.

Keeping in view of single convention it was decided not to collect delegate fee from Patron Members. This practice is continuing till date.  The CM’s Club Convention became two and then three and finally four. After our persuasion and decline in club membership it became three.  On an average an amount of Rs.1 lakh expenditure is taking place for pre club convention, stall and traveling & boarding charges.

Out of Rs. 500/- collected as Patron Membership, an amount of Rs.200/- towards Branch, Divisional and Zonal shares has to be deducted. With the remaining Rs. 300/- Federations Offices, printing of LIAFI’s NEWS, travelling and other sundry expenditure are to be met. With the increased cost of living maintaining the above are becoming very difficult. If Patron Membership collection crosses 10000 and Branch Affiliation collection crosses 1000 we may afford to continue this practice. The average collection of PMs is 5000 and BAs is 500. These statistics must be understood.

Keeping the above facts in view and as per the advice of President it is proposed to collect an amount of Rs. 300/- as delegate fee at the Pre Club Conventions. I request your opinion on this matter immediately.     

Thanking you

Sincerely Yours

N. Gajapathi Rao