Welfare Fund Manual-2012 - Central Industrial Security Force

premia-fund-scheme 1986 and CISF Risk-premia-fund scheme 1989 (which
were in existence from June 1986 to May 1997).
(x) 'Compounded interest' means interest with prevailing rate of SBI(1 year
deposit)/ GPF whichever is less on the subscriptions to be compounded
annually i.e. during April each year.
(xi) 'Saving Element' means part of subscription @ Rs. 70/-p.m. out of
subscription of Rs 120/- p.m. w.e.f. 01.03.2010.
(xii) 'Risk Element' means subscription @ Rs. 50/- p.m. paid by the subscriber
towards the scheme to cater for the lumpsum benefits payable in the event of
death or invalidation out of service of a member of the scheme.
(xiii) 'Fund Pass Book' means the book for keeping records of the
payments/subscriptions made by the member towards the scheme. The
subscription paid towards the existing scheme will also be recorded therein
duly signed by respective DDO.
4. ELIGIBILITY FOR MEMBERSHIP OF THE FUND
All members of the CISF including civilian employees and personnel on
deputation to other organizations are eligible to become the members of the Fund.
Personnel on deputation to CISF from other Departments /Govt. will be refunded Saving
Element with compound interest and prescribed Bonus applicable on the on the date of
leaving CISF.
In case both husband and wife are the members of the Force both are eligible to
become members of the scheme.
5. GENERATION OF FUNDS/CREATION OF CORPUS
The corpus of the fund would be created in the following manner:-
(I) By Quarterly Subscription
Every member will contribute a sum of Rs. 120/- per month as subscription during
his period of Government service till such time that he retires or leaves the service. The
amount of Rs. 120/- per month will be subdivided under two heads i.e Saving Element @
Rs. 70/- and Risk Element @ Rs.50/-. While Saving Element is refundable in the shape
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