Section 18 in Andhra Pradesh Unorganized Workers' Social Security Rules, 2012
18. Operation of the Bank Account.
(1)The Secretary of the Board shall open a P.D. Account in a Nationalized Bank for depositing the subscriptions, etc., after obtaining the prior permission of the Government.(2)The Accounts shall be operated by the Secretary, who is the chief executive of the Board.(3)The Accounts with each of the Bank shall be reconciled once in every quarter with the Cash Book of the Board. The consolidated debits and credits of Bank Accounts shall tally with the Income and Expenditure of the Fund. A Bank Reconciliation Statement shall be made as at the end of every quarter to explain in inconsistencies between the fund Account maintained in the Board and the Bank Accounts.(4)The Secretary of the Board shall prepare, at the end of every quarter, an estimated cash inflow and outflow statement for the next quarter and accordingly invest the amounts lying to the credit of savings Bank accounts in fixed deposit for appropriate period which yield higher rate of interest.(5)In the contingency of non-availability of the Secretary and in case of emergencies, for reasons to be recorded in writing and communicated to the Bank, the accounts may be operated by another two officers of the Board or the State Labour Department approved by the Board for this purpose on the recommendations of the Commissioner of Labour. However, such transactions shall be ratified by the Secretary, as soon as he is available, under intimation to the concerned Bank.
