Rule 42. Manner of establishment and administration of the Social Security Fund under sub-section (5) of section 141

The Fund shall be known as the Lakshadweep Social Security Fund and all the expenses towards the scheme(s) notified under sub-sections (2) of section 109 for the Unorganised Workers, shall be met out of this fund. In addition to the source of fund mentioned in clause (i) sub- section (5) of section 141, the amount received from the following sources shall be credited to the Fund namely: -(i) the amount given by the Administration of UT of Lakshadweep for the establishment of the fund;

(ii) the amount of grant given by the Government of India, Administration of UT of Lakshadweep and other authorities and other statutory bodies;

(iii) amount received for registration or renewal of beneficiaries and their contribution;

(iv) amount received for implementation of the scheme notified by the Government of India;

(v) amount received for implementation of the scheme notified by the Administration of UT of Lakshadweep.

(vi) Contribution or donation or any other financial support from employer, their association or from Corporate Social responsibility (CSR) Fund as determined by the Administration of UT of Lakshadweep by general or special order;

(vii) any other source which is approved by Government by notification in Official Gazette.

(2) The fund shall be administered by the Administration of UT of Lakshadweep through an agency designated by Government in the manner, as notified by the Government.

(3) The directions of Government, if any shall be complied with by the agency designated for the administration of the Lakshadweep Social Security Fund.

(4) The statement of accounts of the Lakshadweep Social Security Fund shall be maintained by the agency, in the form(s) and manner as specified by the Government and shall be submitted to the Administration of UT of Lakshadweep from time to time.

(5) The accounts of the Lakshadweep Social Security Fund shall be audited by the Comptroller and Auditor General of India or any other agency as the Government may notify.