Administration Manual - B.E.S.T. Undertaking.

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ii) The "Committee: shall open an account in the name of " The BEST Staff Family
Welfare Fund" and shall deposit the amount of the fund in any scheduled bank as
defined by the Reserve Bank of India Act 1934.
iii) After keeping sufficient amount in the account of the fund for day to day
management and for payment to the surviving family of the deceased
employees/officers working in the Undertaking, the "Committee" shall invest the
balance amount in Government Securities, Indira Vikas Patra, Unit Trust of India,
Fixed Deposit. Reinvestment Scheme or any other Security/Scheme whereby
maximum interest can be earned with adequate security covered
PAYMENT FROM THE FUND :
An amount as decided by the Committee from time to time on the basis of availability
of the amount disposable for distribution shall be paid immediately to the surviving family
members of the deceased employee/officers working in the Undertaking in the following
order of preference :-
1. Widow
2. Minor Children
3. Unmarried daughter
4. Dependent Son
5. Dependent parents
As per the procedure (Ref.AGM(P)/L/446(T)/38079/2003, dtd. 5.6.2003) instead of making
two separate payments i.e. Rs. 4000/- from BEST Staff Family Welfare Fund and Rs. 1000/-
towards expenses by the Undertaking, a combined payment of Rs. 5000/- is made to the