Group insurance scheme

(1) Subject to the other provisions of this Act, the State Government may, by notification in the Official Gazette, make a group insurance scheme for providing insurance on the lives of all qualified employees in the establishments to which this Act applies.

(2) A scheme under sub-section (1) may provide for all or any of the following matters, namely:-

(a) the plan of assurance,

(b) the sum assured,

(c) the rates of contribution,

(d) the proof of age of the qualified employee,

(e) nomination by a qualified employee or a person to whom the sum assured is payable and the manner of making such nomination,

(f) such other matters relating or incidental to the scheme as may be prescribed.