Matters to be provided for In the Coal Mines Deposit-Linked Insurance Scheme
1. The employees or class of employees who shall be covered by the Insurance Scheme.
2. The manner in which the accounts of the Insurance Fund shall be kept and the investment of moneys belonging to the Insurance Fund, subject to such pattern of investment as may be determined, by order, by the Central Government.
3. The form in which an employee shall furnish particulars about himself and the members of his family whenever required.
4. The nomination of a person to receive the insurance amount due to the employee after his death and the cancellation or variation of such nomination.
5. The registers and records to be maintained in respect of employees; the form or design of any identity card, token or disc for the purpose of identifying any employee or his nominee or member of his family entitled to receive insurance amount.
6. The scale of insurance amount which shall not be less than the average balance in the account of the employee concerned in the Fund during a period of three years immediately preceding his death or more than rupees ten thousand.
7. The minimum average balance to be maintained by an employee in the Fund to make him eligible for the benefits under the Scheme.
8. The manner in which the amount due to the nominee or the member of the family of the employee under the scheme is to be paid including a provision that the amount shall not be paid otherwise than in the form of a deposit in a savings bank account, in the name of such nominee or member of family, in any corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970).
9. Any other matter which is to be provided for in the Insurance Scheme or which may be necessary or proper for the purpose of implementing that scheme].
2[THE FOURTH SCHEDULE]
[See Sec. 5]
Matters to be provided for in the Coal Mines Bonus Scheme
1. The payment of bonus dependent on the attendance of an 3[employee] during any period.
2. The employees or class of employees who shall be eligible for the bonus and the conditions of eligibility.
3. The rate at which the bonus shall be payable to an employee and the manner in which the bonus shall be calculated.
4. The conditions under which an employee may be debarred from getting the bonus in whole or in part.
5. The rate at which sums shall be set apart by the employer for payment of bonus, and (he time and manner of such payment.
6. The registers and records to be maintained by the employer 4[or contractor] and (he returns to be furnished by him.
6 A. The transfer, by an employer to the Fund or any other fund specified by (he Central Government, of (he amount of bonus remaining unpaid or unclaimed for a period of six months from the end of the quarter to which the bonus relates and the extinguishment of the employer's liability to his employees to the extent of the amount so transferred.
7. Any other matter which is to be provided for in the Coal Mines Bonus Scheme or which may be necessary or proper for the purpose of implementing that Scheme].
