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

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3.A-10.10 Balance of Fixed and Call Deposits with the various local branches are
verified with the Fixed and Call Deposit Receipts including Security in
the Demat A/c. of the Undertaking of the Banks in safe custody of the
Supdt. Cash.
3.A-11 Checking of Interest Subsidy:
The Chief Audit Assistant is also required to carry out Audit of the
Interest Subsidy paid to the employee and officers of the Undertaking.
This is post-audit. In this work, he is assisted by two Clerks.
3.A-11.1 Checking of Fresh files of Subsidy with Computer print outs of
Interest Subsidy:
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Audit has to verify –
1) the Name of the applicant;
2) check number and paysheet;
3) date of joining;
4) to check whether employee has completed 3 years service;
5) checking of submission date of application with EMI starting
date for six month clause;
6) checking of authority, eligibility disbursement, EMI break-up
letters;
7) total of interest subsidy amount from date and starting E.M.I.
paid in current month under the Code of 086;
8) Checking of part disbursement amount and change in interest
rate from time to time.
3.A-11.2 Checking of Change of Location and Audit Verifi-cation:
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1) Management Approval.
2) Letter regarding transfer of Old loan on new property (House).
3) EMI break-up sheet.
4) Authority Letter.