Para 12.7 — MSO (A&E)
Original Rule Text
12.7 On receiving from the authorities of Hindu Family Annuity Fund a certified copy of the letter of application of an intending subscriber, the Accountant General, after seeing that it contains a declaration in the following terms will authorise the Treasury Officer named to receive such contribution as the subscriber may tender in cash or by deduction from pay or pension bills. If he be a Government Servant or a Government pensioner and prefer to pay his subscriptions by the letter method:-
"In accordance with the condition upon which the Central Government allows certain facilities to the Fund, I have to record that I am fully aware that the Government exercises no supervision over the management of the Fund, and is in no way responsible for its solvency".
The amounts tendered by subscribers may be accepted without check or examination.
- C-PROVIDENT FUNDS
- INTRODUCTORY
Note.-Subscriptions from those admitted to the fund after 31-8-56 are being recovered in cash in all cases.
What This Means
When the Hindu Family Annuity Fund sends a certified copy of a subscriber's application, the Accountant General must verify that it contains a specific declaration acknowledging that the Central Government does not supervise the fund's management and is not responsible for its solvency. If the declaration is present, the AG authorizes the Treasury Officer to accept contributions either in cash or through pay/pension deductions. Cash subscriptions can be accepted without further checks. Note that subscribers admitted after August 31, 1956 pay only in cash.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1The AG must verify the subscriber's declaration disclaiming government responsibility for fund solvency
- 2Treasury Officer is authorized to receive contributions in cash or via pay/pension deductions
- 3Cash contributions can be accepted without check or examination
- 4Post-August 31, 1956 subscribers pay only in cash (not through pay deductions)
- 5This is a non-government fund where the government only facilitates collection
Practical Example
A government pensioner applies to subscribe to the Hindu Family Annuity Fund. The fund forwards his application to the AG, Kolkata. The AG's office checks the application and finds the required declaration: 'I am fully aware that the Government exercises no supervision over the management of the Fund, and is in no way responsible for its solvency.' The AG then authorizes the Kolkata Treasury Officer to accept the pensioner's monthly contribution of Rs. 200 through deduction from his pension bill.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why does the subscriber need to declare awareness of no government responsibility?▼
Why were post-1956 subscribers restricted to cash payments only?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.