Amendment status not verified — confirm the current text below against the official source.
a. Every institution shall recover the monthly contribution at the rates prescribed in Rule 7 from each member from his/her commissions who exercised their option to come over to the scheme. Separate ledger shall be maintained by the institution for each commission agent in the form prescribed in form No. C. 3. b. The amount so recovered along with contribution from the side of the institution under Rule 8(a) shall be remitted by the institution in the nearest branch of the concerned District Co-operative Bank within five days from the date of recovery along with a schedule in four copies in the form prescribed in form No. C. 4. in the account number specially opened for this purpose. The concerned branch shall after making necessary entries thereon send the copy of the schedule to the societies who remit the amount and one copy of the same to be retained in the branch of the District co-operative Bank concerned. The secretary shall sent one copy directly to the secretary Treasurer of the Board immediately. D. On the basics of the schedules received, the secretary shall maintain separate ledger account of each commission Agent besides other accounts and registers. E. The amount received by the branches of the District Co-operative Banks under the scheme shall be credited in a separate savings Bank account (Maximum interest bearing saving Bank account) in the name of the additional registrar/Secretary-Treasurer, Kerala state co-operative Employees Welfare Board, Trivandrum opened specially for this scheme in the Head office branch of the concerned District co-operative Bank LTD.