Insertion of new Third Schedule.
"THE THIRD SCHEDULE (See section 3G) 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 assurance 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 family entitled to receive the assurance amount,
6. The scales of assurance amount which shall not be less than the average balance in the account of the employee concerned in the Insurance 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 provident 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 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.".
SEC. I] THE GAZETTE OF INDIA EXTRAORDINARY 927
CHAPTER III AMENDMENT OF THE EMPLOYEES' PROVIDENT FUNDS AND FAMILY PENSION FUND ACT, 1952
17. In the long title to the Employees' Provident Funds Act, for the words "and family pension fund", the words ", family pension fund and deposit-linked insurance fund" shall be substituted.
19 of 1952. Amendment of long title.