Contribution to the Fund

Labour201931 sections

Statutory text

(1) A beneficiary of the fund shall contribute to the fund at such rate as may be prescribed. This contribution shall be remitted in advance once in three months in any of the banks specified by the Board in the district in which the member resides.
(2) If a beneficiary commits defaults in the payment of contribution continuously for period of one year, he shall cease to be a beneficiary of the Fund, However, with the permission of the Secretary or an officer authorized by him in this behalf, the membership may be resumed on repayment of arrears of contribution with a fine at such rates as may be prescribed subject to the condition that such resumption shall not be allowed more than twice.
(3) If a beneficiary is unable to pay his contribution monthly due to any financial hardships, the Board, may, waive the payment of contribution for a period not exceeding three months at a time.

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