Chapter IV FINANCIAL PROVISIONS

1. (1) The Board shall maintain proper accounts and other relevant records and prepare an annual statement of accounts in such form as may be prescribed.
2. (2) The accounts of the Fund shall be audited annually by the Office of the Accountant General of the State.
3. (3) The accounts of the Fund certified by the auditor, together with the audited report thereon shall be submitted annually by the Board to the Government before such date as may be prescribed.
4. (4) The Board shall comply with such directions as the Government may, after perusal of the report of the Auditor, think fit to issue.
5. (5) The cost of the audit, as determined by the Government, shall be paid out of the administrative costs of the Fund.
6. (6) All monies forming part of the Fund shall be kept in current or deposit account with any Nationalized Bank or as prescribed by the Government.

1. (1) The Government shall establish a Fund to be called the Telangana Platform Based Gig Workers Social Security and Welfare Fund for social security and welfare of the registered Platform Based Gig Workers and the following money shall form part of, and be paid into, namely,-
   • (a) all sums received from welfare fund fee levied under this Act;
   • (b) all contributions made by individual platform and Platform Based Gig Workers towards any specific social security scheme prescribed;
   • (c) all sums received as grant-in-aid from the State Government and Central Government;
   • (d) Funds received from the Corporate Social Responsibility Fund within meaning of the Companies Act, 2013;
   • (e) all sums received by way of grants, gifts, donations, benefactions, bequests or transfers; and
   • (f) all sums received from any other sources as may be prescribed.
2. (2) The Board may spend an amount not exceeding 5% of the annual receipts for the purpose of the Social Security and Welfare Fund under sub-section
3. (1) with the prior approval of the Board, as may be specified by the Government from time to time, to meet the administrative expenses of the Board.

1. (1) The Government shall charge a fee, to be known as the Telangana Platform-Based Gig Workers Welfare Fund Fee, which shall be levied on all aggregators/platforms at such rate and in such manner as may be notified by the Government from time to time.
2. (2) The Government may, by notification, specify different rates of the Welfare Fund Fee for different categories of Aggregators or Platforms, having regard to the nature of services provided, as classified in Schedule I.
3. (3) The Welfare Fund Fee shall be collected by such authority, in such manner, and within such time as may be prescribed.
4. (4) The aggregator/platform shall deposit the Welfare Fund Fee levied under this Act, at the end of the month in such manner, as may be prescribed.
5. (5) If any aggregator / platform fails to pay any amount as specified under sub-section (1), shall be liable to pay simple interest on the fee due from the date on which such payment is due till such actual payment at such a rate, as may be notified by the State Government, from time to time.
6. (6) The Welfare Fee so collected will count as the total contribution payable under sub-section
7. (4) of section 114 of the Code on Social Security, 2020:

Welfare Fund Fee Verification System (WFFVS)

1. (1) All payments made to Platform Based Gig Workers generated on platforms shall be mapped on to a Welfare Fund Fee Verification System (WFFVS) on a real-time basis administered by the Government and monitored by the Board.
2. (2) Every payment made to Platform Based Gig Workers and the Welfare Fund Fee deducted by the platforms shall be sent to Welfare Fund Fee Verification System (WFFVS) on a real-time basis for each transaction related to platform-based Gig worker in such manner as may be prescribed;
3. (3) All the details of Welfare Fund Fee collected and spent at the Platform Based Gig Workers level shall be disclosed and made available on the Welfare Fund Fee Verification System (WFFVS) on a real-time basis;
4. (4) Welfare Fund Fee Verification System (WFFVS) shall be in compliance with the applicable Central and State legislations on data protection for the time being in force.