Pakistan Employees’ Old Age Benefits Institution EOBI : Sahara Life Insurance Policy

Name of the Organization : Employees’ Old Age Benefits Institution (eobi.gov.pk)
Type of Facility : Sahara Life Insurance Policy
Country : Pakistan

Website : http://www.eobi.gov.pk/
Download : https://www.statusin.org/uploads/7556-Sahra-Insh.pdf

Sahara Life Insurance Policy :

Your Life is a Valuable Asset:
Safeguard your life as it is a blessing of Allah and an invaluable asset for your family. Sahara Insurance through Bureau of Immigration has initiated a life insurance policy ofRs.10 Lac, for the life safety of manpower working in foreign countries away from their loved ones.

Related : Employees Old Age Benefits Institution Facilitation System Pakistan : www.statusin.org/884.html

When will this policy start?
1] After getting registered with Bureau of Immigration
2] After depositing amount of Rs.2,000 into Sahara Insurance Company account
3] In case of death. Sahara Insurance Company will give this amount to your nominated bene?ciary

Sahara Insurance will help the family to carry the body of deceased Overseas Pakistani worker from the place of his/her demise to hislher house in Pakistan.

In case of accident please contact:
Islamabad: +92 51 9108231-2
Email: sahara.insurance.co AT gmail.com

Sahara Insurance Company Ltd.:
Through Sahara insurance Co. Ltd. the government has decided to provide an amount of one lac rupees as assistance to those EOBI Pensioner aged 60 to 70 years who suffer from the below mentioned serious illnesses:
** By-pass surgery
** Hepatitis “C”
** Renalfailure
** Cancer

The main objective of the present government is to provide financial assistance to our esteemed, hard working workers, who have played a crucial role in keeping the wheels of our industry; running.

As no other institution is providing healthcare to these retired workers, the Federal Minister for HRD, Ch. wajahat Hussain has made Sahara Insurance Co. Ltd. responsible to support these deserving retirees with monetary sustenance.

Short title and commencement :
(1) These rules may be called the Employees’ Old-Age Benefits (Contributions) Rules, 1976.
(2) They shall come into force at once.

Definitions :
In these rules, unless there is anything repugnant in the subject or context :

(a) “Act” means the Employees’ Old-Age Benefits Act, 1976 (XIV of 1976);
(aa) “contributions” means the contributions, payable by the employer, consisting of the employers’ share of contribution, under section 9 of the Act and the insured persons’ share of contributions, under section 9B of the Act;”;

(b) “Form” means a form annexed to these rules;
(c) “Institution” means the Employees’ Old-Age Benefits Institution exercising and performing the powers and functions of the Institution under the Act;

(d) “month” means Calendar month: and
(e) “ Pass Book” means the Pass Book, as set out in Form PR-11 to be issued to an insured person by the employer.

Contributions :
(1) Subject to sub-section (1) of the section 9 and section 9B of the Act and sub-rules(4) to (8), contributions shall be payable on and from the date , on which the Act becomes applicable to the employer.

(2) Contributions, falling due, at the end of the month, to which they relate, shall be paid not later than the 15th of the next following month.

(3) For the purpose of computing the contribution, payable every month, at the rate specified in sub-section (1) of section 9 of the Act, the wage of every person, in insurable employment, for that month shall be rounded off to the nearest rupee, that is to say fifty paisa or above shall be treated as one rupee and less than fifty paisa shall be ignored. The amount of contributions, payable on the total wages of all persons, in insurable employment for the month shall, in like manner, be rounded off to the nearest rupee.

(4) The employer shall deduct, every month the amount of the insured persons’ contribution, payable under section 9B of the Act from his wages.

(5) Where wages are received partly in cash and partly in kind, the employer may deduct, the insured persons’ contributions, due for the period from the amount of the wages paid in cash. If no part of the wages of insured person is payable in cash, the employer may deduct the insured persons’ contribution from any other payment that he may be liable to make to his employee.

(6) Contributions shall be paid, into the Collection Accounts of the Institution, in the banks authorized, for the purpose through EOBI Contributions Payment Slips as set out in Form PR_03 in quadruplicate, by using separate slips, for each Branch or Sub-Office of an industry or establishment. The employer shall invariable enter the particulars, regarding payment of contribution, in the Pass Book of respective insured person.

(7) The employer shall file with the institution, information at the time of registration and thereafter in the month of July every year as set out in form PR-02 for Self-assessment Scheme and in Form PR-02 for Self-Assessment Scheme and in Form PR-02A for normal scheme along with copy of paid challan as set out in form PR-03. The particulars so submitted shall be treated unchanged constantly until any change is intimated as set out in Form PR-02B.

(8) If the employer does not deduct or deposit the insured persons’ contribution payable under section 9B of the Act, the registered insured person can deposit, his own share of contribution in Challan as set out in Form Pr-03A and produce a copy of paid Challan along with Pass Book to the nearest office of the Institution for entry of the particulars regarding payment.

The Incharge of said office shall acknowledge the receipt on the basis of paid challan, determine the jurisdiction of the establishment and pass on to concerned office of the Institution a copy of the challan collected from the concerned bank for further action under the Act.

(9) The payment of contribution made by the employers shall be acknowledged.

Non-payment of contributions on due dates :
If the employer fails to deduct the employee’s contribution or pay contribution on due date, the amount payable, shall be increased by two per cent of such amount for every month or part of a month for which the amount is in arrears: Provided that the said increase shall not exceed fifty per cent of the contribution.

Contact:
Address: Sahara Insurance Co. Ltd.
Head Office, EOEII House,
Mauve Area, Islamabad.

Phone; 92-51-9108231-2
Email: sahara.insurance.co AT gmail.com