Section 60 in The Coal Mines Provident Fund Scheme
60. Member's Accounts.
(1)An account shall be opened in the name of each member in which shall be credited-(i)his contribution [to the Coal Mines Provident Fund] [[ ] Inserted vide Notification No. 11011 (I)/72-PFI(i) dated 8.8.1972.](ii)the contribution made by his employer, [to the Coal Mines Provident Fund] [[ ] Inserted vide Notification No. 11011 (I)/72-PFI (i) dated 8.8.1972.] and(iii)interest, as provided by paragraph 61.(2)All items of account shall be calculated to the nearest [rupee treating fifty paise or more as the next higher rupee and ignoring fractions of a rupee less than fifty paise] [Substituted vide G.S.R No. 1312 dated 29.12.84.].(3)On receipt of the Contribution and emergency cards if any, of a member [in respect of any period of currency commencing before the 1st April, 1953] [Inserted vide S.R.O. 3306 dated 22.10.1954.] from his employer at the end of the period of currency of the contribution cards, the commissioner shall ascertain the nominal value of the contribution stamps affixed on the card or cards of the member and shall credit to the account of the member as at the last day of the period of currency, the employer's contribution and the member's contribution included in such nominal amount.(4)[ [On receipt of contribution card of a member in respect of a currency period or quarter, as the case may be,] [Sub-para (4) of para 60 first inserted vide S.R.O. 3306 dated 22.10.54 and then reconstituted vide G.S.R. 1203 dated 20.8.1964.] the Commissioner or such other Officer subordinate to him as may be authorised by him in this behalf shall ascertain therefrom the total amount of the member's and employer's contributions [to the Coal Mines Provident Fund] [[ ] Inserted vide Notification No. 11011 (I)/72-PFI (i) dated 8.8.1972.] paid for the member and shall credit the amount to the account of the member as at the last day of the period of currency or quarter as the case may be.]
