Amendment status not verified — confirm the current text below against the official source.
Expenditure from the fund. -(1) All expenses of administration of the Fund, including fees and also allowances of the Directors, Salaries, Leave joining time al- lowances, Travelling and Compensatory allowances, gratuty, compassionate allwances, Pension, Provident Fund Contributions and other benefit, if any instituted for the of- ficers and employees of the Board, The cost of audit of accounts, legal expenses, cost of stationery forms and all expenses incurred in respect of the construction of office buildings and staff quarters shall be met from the Administrative Account of the Fund. A part of the Fund for the purposes as mentioned in sub-paragraph, (I), not exceeding 10 per cent of the total contributions shall be earmarked as Administration Account. - The expenses incurred initially by the Government in connection with the establishment of the fund shall be treated as loan and such loan shall be repaid from the Administration Account within such time limit as the Government may direct.