(1) Every coir worker and self employed person shall contribute to the Fund 25[twenty rupees] per month and the contribution by the coir worker shall be paid directly or through the employer:
Provided that a coir worker or a self employed person who has not become a member of the Fund before the 30th day of September, 1997 shall become a member of the Fund if he pays to the Fund an amount equivalent to the contribution payable by him, had he been a member for the period prior to the 30th day of September, 1997 within nine months from the said date:
Provided further that the arrears of contribution, if any, for any period prior to the 30th day of September, 1997, payable by a member shall be allowed to be paid waving interest and penalty if such payment is made before the 30th day of September, 1998.
23 Added by Act 9 of 1998 (w.e.f. 30th September, 1997).
24 Substituted by Act 9 of 1998 (w.e.f. 30th September, 1997).
25 Substituted by Act 31 of 2021 ( w.e.f. 17th February, 2021).
(2) Every employer, producer of coir products and dealer shall pay to the Fund a contribution at the rate shown in the Annexure per year.
(3) 26[The Government shall contribute to the Fund every year an amount equal to fifty percent of the amount contributed by the coir workers and self-employed persons, by way of grant, subject to a maximum of rupees ten per capita, per month.]
(4) Every exporter shall with effect from the 1st day of October, 1989 pay to the Fund every year an amount equal to 0.75 per cent of the F.O.B. value of his annual exports by way of contribution:
Provided that the contribution payable by producers of coir products, dealers or exporters, as the case may be, till the 30th day of September, 1997 shall be calculated at the revised rates and excess payments, if any, shall also be adjusted against future payments and arrears, if any, may be allowed to be paid in suitable quarterly instalments not exceeding twenty, after waiving interest and penalty on such arrears:
Provided further that the installment facility for payment of arrears and waiver of interest and penalty shall be extended only if the current contributions are paid without default along with instalments of arrears.]
(5) Every producer of coir products and every dealer shall contribute to the fund an amount equal to one percent of their sale proceeds in a year.
(6) The contribution shall be paid to the Chief Executive Officer or to any officer of the Board authorised by the Board in this behalf.
(7) Where the amount of any contribution payable under this Act involves a fraction of a rupee, the scheme may provide for the rounding off of such fraction to the nearest rupee.
[27(8) The Government may, by notification in the Gazette, revise the rate of contribution specified in sub-sections (1), (2), (4) and the rate of grant specified in subsection (3).
(9) Every notification under sub-section (8) shall be laid, as soon as may be, after it is issued, before the Legislative Assembly while it is in session for a total period of fourteen days, which may be comprised in one session or in two successive sessions, and if, before the expiry of the session in which it is so laid or the session immediately following, the Legislative Assembly makes any modification in the notification or decides that the notification should not be issued, the notification shall, thereafter, have effect only in such modified form or be of no effect, as the case may be, so however that any such modification or annulment shall be without prejudice to the validity of anything previously done under that notification.]
26 Substituted by Act 31 of 2021( w.e.f. 17th February, 2021).
27 Inserted by Act 31 of 2021 (w.e.f. 17th February, 2021).