Welfare Fund Manual-2012 - Central Industrial Security Force

PAYMENT, IF NOT ALREADY DONE BY THE UNIT, SINCE WE INTEND TO PAY THE
LUMPSUM PAYMENT ON THE LAST WORKING DAY.
19. MAINTENANCE OF RISK FUND PASS BOOK:-
The existing pass books will be closed showing the amount paid by the individual
towards the RMS'97. The same pass book will be taken into use for recording the
recoveries made towards the revised scheme from the next page. The system of entry
will be the same Rs.80/- under the New Scheme should be made from the next page
and in the beginning the Break-up of subscription i.e. Risk Element and Saving Element
be indicated. The Saving Element will be Rs.50/- and Risk Element will be Rs.30/-.
Since the rate of RS Fund has been revised twice, entries in RS Fund Passbook may be
made as under :-
From Dec’2008 to Feb’10 –Rs.100/-(Rs.30 Risk element and Rs.70 as saving element)
From Mar’2010 to till date -Rs.120/-(Rs.50 Risk element and Rs.70 as saving element)
It will be ensured that pass book for each and every member of the Fund /Scheme is
prepared and maintained up-to-date. The Head of Office/ DDO of each unit / office will
ensure that all the subscriptions recovered from the individual are recorded therein.
While casting the progressive balance in the individual pass book, its correctness in all
respects must be ensured. The annual subscriptions towards Saving Element will be
granted compound interest as decided by competent authority. The interest will be
communicated by FHQrs for credit in the pass book to the DDO/Head of Office of Unit,
maintaining the Risk Fund Pass Books. The individual will be issued an annual
statement of his subscriptions like G.P.F. balance during the month of May each year by
DDO concerned in the given Format at Annexure "C". Unit Commandant/DDO will
issue a certificate in the month of June each year that the Annual statements have
been issued to all members of his unit/Office for the last year.
Whenever, an individual is sent on deputation to another department, his Risk Fund
pass book duly completed and updated should be transferred to FHQ for maintenance by
Welfare branch for the duration of the term of deputation. On his repatriation to CISF,
the pass book may be obtained from FHQ for further maintenance at the unit where the
individual is posted on repatriation to CISF. While the Pass Book is maintained at
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