Procedure for deposit of Fund and meeting obligations

(1) The proceeds of the Social Security Surcharge collected under this Act shall be deposited in the Fund account on weekly basis but not later than fifteen days from the date of collection of such surcharge. (2) The Government shall open account(s) in any of the Schedule Banks for managing and carrying out the transactions with respect to the Fund. (3) The Government on the recommendations of the Governing Body of the Trust may,— (i) after meeting their obligations as specified in sub-section (2) of section 5, invest the surplus Fund including the Government securities in such manner, as it may deem fit; (ii) constitute one or more advisory committees or engage suitable advisors to advise the Government for the efficient utilization of the Fund; (iii) enter into and perform all such agreements, as it may deem necessary or expedient for performing any of its functions; and (iv) perform such other acts, as it may deem necessary or expedient for the proper conduct of its functions and for carrying out the purposes of the Act.