Insurance Scheme and Deposit-linked Insurance Fund
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Questions and Answers

What happens if both Houses of Parliament agree in making modifications to a scheme laid before them?

  • The scheme will become law without any changes.
  • The scheme will be annulled.
  • The scheme will have effect only in the modified form. (correct)
  • The scheme will be sent for further review.

    • Who has the authority to modify a scheme, a family pension scheme, or an insurance scheme?

  • Local Authorities
  • The Central Government (correct)
  • The Parliament
  • The State Government

    • Under what conditions can a notification issued by the Central Government be annulled?

  • Without any conditions
  • If both Houses of Parliament agree in making modifications to the notification. (correct)
  • If the President disagrees with the notification.
  • If both Houses of Parliament disagree on issuing the notification.

    • What is the procedure for laying a scheme before each House of Parliament?

    <p>Should be laid for a total period of 30 days during a session or across multiple sessions.</p> Signup and view all the answers

    Who is responsible for determining the moneys due from employers according to the text?

    <p>Central Provident Fund Commissioner</p> Signup and view all the answers

    When can provisions under the Insurance Scheme take effect?

    <p>Either prospectively or retrospectively as specified</p> Signup and view all the answers

    What is the maximum percentage of basic wages, dearness allowance, and retaining allowance that the employer is required to pay into the Deposit-linked Insurance Fund?

    <p>1%</p> Signup and view all the answers

    Who determines the further sums of money that the employer must pay into the Insurance Fund, beyond the contribution required under sub-section (2)?

    <p>The Central Board</p> Signup and view all the answers

    How are the expenses related to the administration of the Insurance Scheme met?

    <p>By the Central Board</p> Signup and view all the answers

    Who administers the Insurance Fund according to the text?

    <p>The Central Board</p> Signup and view all the answers

    What is the purpose of paying further sums of money into the Insurance Fund according to sub-section (4)?

    <p>To cover administrative expenses</p> Signup and view all the answers

    What can be included in the matters specified in Schedule IV according to the text?

    <p>Administrative provisions</p> Signup and view all the answers

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