Section 5 in RSWC Employees General Provident Fund Regulations, 1990
5. Administration of the Fund.
- The fund shall be administered by the Sr. Accounts Officer from the date of application of these Regulations keeping in view the instructions issued by the Corporation from time to time. All Officers and staff appointed for the administration, control and maintenance of accounts etc. shall for all intents and purposes be deemed to be in the service of the regulations and all other conditions of service of the Corporation. The monthly accumulations of the fund shall be invested into the P.D. Account of the Government of Rajasthan separately after meeting with monthly requirements keeping in view the instructions issued by the Corporation/Government in this regard, Apart from this, the following points shall be kept in view in connection with administration of the Fund Accounts:-(i)All expenses relating to the administration of the fund shall be borne by the Corporation.(ii)The accounts of the fund will be maintained by the Sr. Accounts Officer in such form and manner, as may be prescribed from time to time by the Corporation.(iii)All sums paid to the fund or withdrawn from it under these Regulations shall be booked in the books of the Corporation to an account named "RSWC Employees General Provident Fund."(iv)The fund shall be operated upon jointly by the Managing Director and Joint Director (Adm.) or such officers as may be authorised by the Corporation.(v)The Assistant Accounts Officer (P) shall prepare Budget Estimates showing the probable receipts from the subscriptions, probable withdrawals and other expenditure from the Fund during the following financial year and shall forward to the Sr. Accounts Officer on such date as may be fixed for the submission of the Budget Estimate by the Managing Director.(vi)The Sr. Accounts Officer shall furnish to the Managing Director such Accounts/Returns relating to the Fund as may be prescribed by the Corporation.(vii)At the end of each financial year an Income and Expenditure Account together with the balance sheet of the fund duly checked/ audited by Chartered Accountant shall be laid down before the Board of Directors of the Corporation at a meeting to be held before 31st December each year for their approval.(viii)The power to interprete the provision of these regulations shall vest in the Managing Director of the Corporation.Note: 1. The Managing Director and the Joint Director (Adm.) of the Corporation who at present being the trustees of the CPF Trust and are required to sing all documents pertaining to withdrawal and maturity proceeds along with interest thereon shall continue to sign all such papers/documents, as Trustees till all such securities/ bond/deposits are fully recovered in the subsequent months/years even after implementation of the "Employees General Provident Fund Regulations".
