Functional Areas

Fund Management

• Overall management of civil employee’s provident fund.
• Consolidation of all the deductions, receipts, advance payment, final payment from provident fund of whole country and submission of reports to the accounts section of Finance Division and CGA regarding the current scenario of fund.
• Monthly preparation of estimated report of probable receipt, drawing and disbursement.
• Management of information regarding various advance taken from provident fund and payment of installment of that advance and then informing to the concerned ministry / division.
• A repository management of final payment of provident fund.
• Keeping books and records related to investment of fund as per instructions given by Finance Division.
• Enactment of laws and rules, their update and amendment regarding fund management.
• Preparation of annual report.
• Management and maintenance of provident fund module in iBAS++(example: user management, generation of customized report, recommendation of new benefits to Finance Division)
• Exploring for different options to invest fund and then recommending the different investment options to Finance Division.
• Recommendation in fixing the annual interest rate on provident fund.
• Preparation of budget on provident fund.
• Co-operating with the accounts offices in substantiating the balance of provident fund and monitoring regularly to ensure the quality of these activities.
• Analysis of fund management system of different autonomous and semi-autonomous corporations and giving recommendation regarding fund management.