Account code for refund of excess premium in PLI in IT 2.0

F. No. 65-01/2025-LI

Govt. of India

Ministry of Communications

Department of Posts

Directorate of Postal Life Insurance

Chanakyapuri PO Complex

New Delhi - 110021

Date: 29.09.2025

To:

The DDM (PLI)

O/o CPMG, Kerala Circle

Subject: Account code for refund of excess premium in PLI in IT 2.0 - reg.

This is in reference to your office's letter of even number dated 10.09.2025.

The account codes and procedure for accounting and posting refunds of excess premium recovered from insurants (after maturity) are as follows:

The refund amount is to be accounted from "Remittance to Bank" into Account Code 8671004000 - Receipts Pending for Classification.

Subsequently, the refund is to be issued to customers by posting the amount from 8671004100 - Receipts Pending for Classification_Cleared into the "Drawing from Bank".

Due diligence must be exercised to ensure correct payments and avoid double payments. An action taken report must be submitted to this office for the information of the competent authority.

This directive is issued with the approval of the Competent Authority.

Copy to:

1. GM(O), PLI Directorate.
2. PPS to GM(F).
3. Guard file/Office copy.
4. The DDM (PLI), All Circles for information and necessary action on similar cases.