Section 29: Employees Social Insurance Fund

29. Employees Social Insurance Fund .___(1) All contributions paid under this Ordinance and all other moneys received by or on behalf of the Institution shall be paid into a fund to be called the Employees' Social Insurance Fund, which shall be held and administered by the Institution for the purposes of this Ordinance. (2) The Institution may accept grants, donations and gifts from the 1[Federal] or Provincial Government, or from a local authority or other body for all or any of the purposes of this Ordinance. (3) All moneys accruing or payable to the said Fund shall be received by such officers of the Institution as may be prescribed and shall be deposited forthwith with the State Bank of Pakistan or such other bank as may be approved by the Governing Body, to the credit of the Employees' So cial Insurance Fund. (4) The Institution shall maintain separate accounts in the Fund for the branch of insurance covering employment injuries, for the branch of insurance covering sickness, maternity and death grants, for administrative expenses, and fo r such other branches of insurance or for such other purposes as may be prescribed. 1Subs. by F.A.O., 1975, Art. 2 and Table, for “Central”. (5) Appropriation of moneys in the Fund to each of the said accounts and the allocation of moneys for meeting the cost of medical care and other expenses shall be made by the Governing Body with the approval of the 1[Federal Government].

Effective date: 1962-01-01

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