The fund maintained by compulsorily deducting from the wages of the worker members is known as
AProvident Fund
BGratuity Fund
CWelfare Fund
DThrift Fund:
Answer:
D. Thrift Fund:
Read Explanation:
Thrift Fund:
This fund is maintained by compulsorily deducted from the wages of the worker members.
Every Worker member of the Primary Society are required to contribute 6 to 10% of their wages to this fund and the amount of such fund is credited to his Thrift Deposit Account.
The accumulated Thrift deposit will be utilised to purchase shares to the members till the maximum holding is reached as per the Byelaws.
Further contributions will be transferred to his Recurring Deposit Account or giving Insurance premium in favour of the member
Thrift fund formed by Handloom Co-operative for Capital formation
