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

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

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484<br />

The Provident Fund vests in Trustees under Trust beneficiary. The Board of<br />

Trustees has the control and management of the Fund. The Board consists of 12<br />

members out of whom six representatives are from the management. The other six<br />

members of the Board of Trustees are representatives nominated by the Approved<br />

Representative Union. The Assistant General Manager (Legal) is the Honorary<br />

Secretary of the Board of Trustees and the Chief Accounts Officer & Financial<br />

Advisor is the Honorary Accounts Officer of the Trust.<br />

It is the function and responsibility of the Trustees to manage the Fund<br />

according to the Rules & Regulations of the B.E.S.&T. Provident Fund in force.<br />

The Board of Trustees shall meet at such place and time as may be fixed by<br />

the Chairman, at least once in every three months and shall function in accordance<br />

with the guidelines that may be issued from time to time by the R.P.F.C.<br />

B. MEMBERSHIP OF THE FUND<br />

(i) Every employee employed in or in connection with the work of the<br />

<strong>Undertaking</strong> other than an excluded employee shall be entitled and required<br />

to become a member of the fund from the date of joining the services of the<br />

<strong>Undertaking</strong>.<br />

(ii) An excluded employee shall, on ceasing to be such an employee, be also<br />

entitled to and required to become a member of the Fund as from the date he<br />

ceased to be such employee.<br />

C. NOMINATION:-<br />

(1) Each member shall make in his declaration in the prescribed form No. ‘A’ &<br />

‘F’ for fresh nomination and ‘B’ & ‘G’ for change in nomination. A nomination<br />

conferring the right to receive the amount that may stand to his credit in the

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