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Section 3 – Coir Board General Provident Fund Bye-Laws,1977

Coir Board General Provident Fund Bye-Laws,1977

3. Constitution of the Fund.

(1) The fund shall be maintained in rupees.

(2) The Fund shall consist of

(i) all sums paid into the Fund under these bye-laws;

(ii) the amount of subscription together with the interest thereon in the Board’s Contributory Provident Fund standing to the credit of the subscriber in respect of the persons who have opted for the pension benefits in accordance with the provisions of bye-law 18(1) of the Coir Board (Transaction of Business Conditions of Service of Employees and Maintenance of Accounts) Bye-laws,1955;

(iii) such additions to the Fund as the Board may, from time to time, decide to make with the approval of the Central Government; and

(iv)the income from loans, deposits and investments.

(2) Sums of which payment has not been taken within five years after they become payable shall be credited to the Fund at the end of the year. Payment of such sums shall be made only under the orders of Chairman.

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Coir Board General Provident Fund Bye-Laws,1977

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