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PARC, EFU Life Assurance Ltd MoU signing ceremony held in Islamabad

Islamabad: (Parliament Times) Pakistan Agricultural Research Council (PARC) and EFU Life Assurance Ltd has signed a MoU for PARC employees. EFU life has agreed to provide problem free, prompt and competent services to PARC, based on terms and conditions stipulated in this agreement and the Master Group life Insurance Policy to be issued by EFU Life.
Mr. M. Tariq Secretary council and Mr. Rizwan Ahmed Bajwa, Marketing manager signed this MoU. As per conditions this agreement will be for one year from 1st July, 2018 to 30th June, 2019 and can be renewed with mutual consent on year to year basis. EFU Life will not disclose personal data of PARC employees to anyone other than to a party specifically authorized by PARC in writing. The Assurance cover will start after the employee meets the eligibility criteria as prescribed by EFU Life i.e (i) The regular employees eligible for assurance cover shall be those whose ages are between 18 to 60 nearest birthday. (ii) employees eligible for Post-Retirement Benefit shall be those whose ages are between 60 to 63 nearest birthday.
PARC will provide EFU Life with all the data and information required to calculate the premium payable. PARC will provide list of new employees joining the scheme and list of outgoing / terminated employees from the scheme.
At this occasion Chairman PARC, Dr Yusuf Zafar T.I, Muhammad Aslam Alvari, Sr. Director (Admin), Muhammad Ikhlaq, Director (Logistics / Procurement) PARC, M. Shabbir Ahmed, Director (Finance), Noor ur Rehman, Regional Manager, EFU Life and other high officials were also present at the occasion at PARC HQs.

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