Archakas and other employees welfare fund.

(1) Every Religious Charitable Institution whose annual income exceeds Rs. 20,00,000 per annum as defined under section 65 shall be liable to contribute annually 3% of its income to the Archakas and other Employees Welfare Fund constituted and administered through a Trust Board created for the purpose: (2) The fund constituted under sub-section (1) shall be utilized for the welfare of the Archakas and other employees working in the religious, charitable Institutions and endowments in accordance with the terms and conditions of the Trust registered for the purpose.