Deduction of LIC Premium through SPARK for Aided Schools

എയ്ഡഡ് സ്കൂള്‍ അധ്യാപകരുടെ LIC പ്രീമിയം തുക സ്പാര്‍ക്കിലൂടെ അടക്കുന്നതിന് അനുവാദം നല്‍കി ഇക്കഴിഞ്ഞ മാസം ഉത്തരവ് പുറപ്പെടുവിച്ചിരുന്നല്ലോ. ഇത്  സ്പാര്‍ക്കില്‍ ഉള്‍പ്പെടുത്തുന്നത് എങ്ങനെയെന്ന് വിശദീകരിക്കാമോ എന്ന് പലരും ആവശ്യപ്പെട്ടിരുന്നു. അതിനുള്ള മറുപടിയാണീ പോസ്റ്റ്

1.   Q: What is the Deduction code for LIC premiums?

A: 303

2.   Q: What are the precautions to be taken while keying in the Policy numbers?   A: Please ensure that the Policy number (9 digits) is keyed in correctly as in the Policy Certificate issued by LIC.Otherwise, the amount will go to wrong Policy account.  Also, the first Policy should be keyed in with Sequence No.0, second with Sequence No. 1, third with Sequence No.2 and so on.

3.   Q: How to key in the premium amounts? 
A: The premium amount should be keyed in correctly as per the latest Invoice sent by LIC.  

4.   Q: How to deduct the premiums for April, May & June 2016 which were not deducted?

A: The arrears under each Policy can be added under separate Sequence No. However, care should be taken to delete the arrear entries next month, to avoid duplication. These premiums may also be remitted directly at the present servicing Branch office.

5.   Q: What is the due upto which deduction is to be made?

A: Premiums under a Policy are to be deducted till the end of the Premium Paying Term.  For example: If the premium-term of a Policy ends in February 2025, the premiums are to be deducted up to January 2025 salary. 

6.   Q: What other points need to be taken care of? 
A: The correct Residential Address, Mobile number and email id of the policy holder have to be keyed into SPARK.This will help LIC to communicate with you faster.

Important: Please register your Bank Account details with us. NEFT (National Electronic Fund Transfer) helps to safely transfer amounts on the Due Date itself to your Bank Account without any additional fee. It provides for SMS alerts and also helps to trace the details of the transactions using the UTR (Unique Transaction Reference) number. You may send a self-attested copy of the first page of your Bank pass book (having Account details) OR a cancelled cheque leaf with the name of the account holder printed on it, mentioning your mobile number and all your Policy numbers.