Payment of incentive to Sales force of PLI/RPLI
Goverment of India
Ministry of Communications
Department of Posts
(Directorate of Postal Life Insurance)
Chanakyapuri Post Office Complex
All Head of Circles
Subject: Payment of incentive to Sales force of PLI/RPLI-reg.
This is regarding payment of incentive to sales force of PLI / RPLI, and is in continuation of PLI Directorate letter no. 28-06 / 2014-LI dated 30.01.2018. Circles are requested to follow the instructions given below for payment of procurement / renewal incentive to PLI / PRLI sales force:
1. For the period 01.08.2016 till 31.03.2017, procurement/renewal incentive payable to PLI/RPLI sales force may be paid as per the SOP issued vide PLI Directorate letter No. 29-34/2012-LI (Vol II) dated 24.03.2017.
2. With effect from 01.04.2017, new incentive structure for PLI has been put in place, which is based on premium income as well as premium paying term. The case for segregation of policies based on premium paying term and generation of BO/SO report for incentive payment as per revised incentive structure has been taken up with M/S.Infosys Ltd. However, to ensure complete utilisation of funds allotted to Circles, and till such time appropriate changes are made in the software by M/s Infosys, procurement/renewal incentive payment to PLI/RPLI sales force from 01.04.2017 onwards may be made manually at CPC/Divisional level, as per the following guidelines:-
(i) Procurement/Renewal incentive claim application form may be obtained from PLI / RPLI sakes force as per format annexed.
(ii) The incentive claim should be verified at CPC/Division level w.r.t all available relevant documents/reports generated from system (such as Business Enforcement Report, BOSO report etc.)
(iii) Circles are requested to ensure that the claim bills are settled within seven days of submission of such bills.
(iv) Circles are requested to maintain records of incentive payment made to sales force to avoid double payment in future.
(v) Circles are requested to ensure correct computation of incentive to sales force and group leader from 01.04.2017 onwards as per incentive structure circulated vide this Dte letter No. 28-06/2014-LI dated 03.05.2017.
(vi)Circles are requested to ensure correct booking of PLI/RPLI incentive payment under appropriate head of accounts.
3. This issues with approval of the competent authority.