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59. Member’s accounts.- (1) An account shall be opened in the office of the Fund in the name of each member in which it shall be credited:—

(a) his contributions,

(b) the contributions made by the employer in respect of him, and (c) interest as provided in paragraph 60.

(2) All items of account shall be calculated to the nearest rupee, 50 paise or more to be counted as the next higher rupee and fraction of a rupee less than 50 paise to be ignored.

(3) On receipt of the contribution card or cards of a member from his employer or employers at the end of the period of currency of the contribution card, the Commissioner shall compare the entries made in the contribution card or cards with those made in the member’s individual account in the office of the Fund and shall rectify any discrepancy found in these entries.

 

 

 

 

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