Bare ActsThe Kerala Cashew Workers' Relief& Welfare Fund Act.1979

Section 50

AccountS- (I) The amount received by way of contribution to the Fund

Amendment status not verified — confirm the current text below against the official source.

AccountS- (I) The amount received by way of contribution to the Fund. from employees, emplyers and from Government shall be credited to an account to be called the "Cashew Workers Relief and Welfare Fund Account". All interest, rent and other income realised and all profit or loss if any from the sale of investments not including therein, the transaction of the administration accounts, shall be creditied or debited as the case may be, to an account called the 'Interest Suspenses Account'. Brokerage and commission on the purchase and sale of securities and other investments shall be included in the purchase and sale price, as the case may be and not separately charged to the Interest Suspense Account. All expenses incurred in respect of and los;, if any, raising out of any investment shall be charged to the fund. The Chief Executive of the Board shall prepare a classified summary of the assets of the Fund as on the 15th day of March every year or on such other date as the Government may specify and shall append it to the annual report to be submitted t Government under this scheme.

Section 50 – The Kerala Cashew Workers' Relief& Welfare Fund Act.1979 | DailyLaw.ai