Rule 19. Administration of the Uttar Pradesh Social Security Fund

(1) All the funds received under clauses (i) and (ii) of sub-section (5) of Section 141 shall be kept in a separate Bank Account in a Nationalized Bank.

(2) The Fund shall be administered and transacted by the Board.

(3) The Bank Account of the Fund shall be operated in such a manner as determined by the State Government by general or special order.

(4) The fund of the Social Security Board shall be utilized/expended for meeting-(i) expenses of the Board in the discharge of its functions under the Code;

(ii) salaries, allowances and other remuneration of the members, officers and other employees of the Board;

(iii) the implementation of the welfare schemes for unorganized workers of the State and Central Government and for meeting out administrative expenses of the Board;

(iv) expenses on objects and for purposes authorized by the Code.

(5) The administrative expenses of the Board shall not be more than five percent of the total expenditure on schemes formulated by the Board.

(6) The Board shall prepare in such form and such time, each financial year, its budget for the next financial year, showing the estimated receipts and expenditure of the Board and forward the same, to the State Government and the Central Government.

(7) The Board shall prepare, its annual report, giving a full account of its activities during the previous financial year and submit a copy thereof to the State Government and the Central Government.