Group Insurance
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2010
Dear Experts,
Can we can take group Insurance as benefit in form 16.
Pls give me the guideance about group insurance while employement.
how to treat GI by employer ?
pls help me urgently.
Can we can take group Insurance as benefit in form 16.
Pls give me the guideance about group insurance while employement.
how to treat GI by employer ?
pls help me urgently.
25 February 2010
You can not take group insurance in form 16,
because the premium is payable by employer.
This is an Insurance which is issued to a group, such as an employer, credit union, or trade association, and which provides coverage for individuals and sometimes their dependents.
Insurance coverage bought for and provided to a group instead of an individual. For example, an employer may buy disability, health, and term life insurance for its employees at a far better rate than the employees could obtain on their own. Credit unions, trade associations, and other groups may also offer their members preferential group insurance rates. Group insurance is not only advantageous to employees or group members because it is cheaper than they could obtain on their own, but some people may be able to get coverage under the group umbrella when they would be denied coverage individually because of preexisting conditions or other factors.
because the premium is payable by employer.
This is an Insurance which is issued to a group, such as an employer, credit union, or trade association, and which provides coverage for individuals and sometimes their dependents.
Insurance coverage bought for and provided to a group instead of an individual. For example, an employer may buy disability, health, and term life insurance for its employees at a far better rate than the employees could obtain on their own. Credit unions, trade associations, and other groups may also offer their members preferential group insurance rates. Group insurance is not only advantageous to employees or group members because it is cheaper than they could obtain on their own, but some people may be able to get coverage under the group umbrella when they would be denied coverage individually because of preexisting conditions or other factors.
25 February 2010
For more on this just print the PDF file at this link:
https://www.irdaindia.org/guidelines/giguide.pdf
https://www.irdaindia.org/guidelines/giguide.pdf
25 February 2010
agree
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- Short Term Gain Reporting ITR
- Missed TDS
- Rent claimed on building given on permissive possession basis
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Query regarding Item 61/62/63 vs Item 64 in ITR-3
- DUE DATE FOR ITR FILING
- F&O reporting in ITR
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
