The Seamen’s Provident Fund Act,1966
[See section 3(2)]
Matters for which provision may be made in the Scheme
1. Seamen who shall join the Fund.
2. The time and manner in which contributions shall be made to the Fund by employers and by, or on behalf of, seamen.
3. The payment by the employer of such sums of money as may be necessary to meet the cost of administering the Fund and the rate at which and the manner in which the payment shall be made.
4. Other functions of the Board.
5. The constitution of any committee for assisting the Board.
6. The opening of regional and other offices of the Board.
7. The manner in which accounts shall be kept, the investments of moneys belonging to the Fund in accordance with the directions issued or conditions specified by the Government, the preparation of the budget, the audit of accounts and the submission of reports to the Government.
8. The conditions under which withdrawals from the Fund may be permitted and any deductions or forfeiture may be made and the maximum amount of such deduction or forfeiture.
9. The fixation by the Government in consultation with the Board of the rate of interest payable to members.
10. The form in which a seaman shall furnish particulars about himself and his family whenever required.
11. The nomination of a person by a member to receive the amount standing to his credit after his death and the cancellation or variation of such nomination.
12. The registers and records to be maintained with respect to seamen and the returns to be furnished by employers.
13. The fees to be levied for any of the purposes specified in this Schedule.
14. The contraventions or defaults which shall be punishable under section 16.
15. Further powers, if any, which may be exercised by Inspectors.
16. The conditions under which a member may be permitted to pay premia on life insurance from the Fund.
17. Any other matter which is to be provided for in the Scheme or which may be necessary or proper for the purpose of implementing the Scheme.