| (1) |
Can
a member claim the balance
lying to his/her credit
once in
every five years
without
leaving employment? |
| |
No.
It is only upon cessation of
employment that a withdrawal
claim for
refund of
contributions can be made.
Changing from a company to
another company
in the same group is not
considered a cessation of
employment. |
|
(2) |
What
is the “Five Year
Rule?” |
| |
Once
a withdrawal is obtained, a
member has to wait for five
years from the
date of cessation
of employment relating to the
last refund
claim to make another
withdrawal even if the
employment changed. |
| (3) |
Can
a member obtain a loan from
the Fund, say a certain
percentage of the
total
balance available in the
member account for
any personal reason? |
| |
No
facility is available for
such loans. However, under
‘Viyana’ Housing
Loan Scheme, members can
obtain housing loans at
lower rates of
interest.
|
|
(4) |
What
are the benefits available for
members |
|
|
1.
Death benefits
Scheme -
Rs.100,000/=
2. Permanent disability
benefits -
Rs.200,000/=
3. Financial assistance
for kidney transplant
- Rs.300,000/=
4. Financial assistance
for heart surgery
- Rs.300,000/=
5. Reimbursement of cost
of Intra-ocular lens
implanted -
Rs.30,000/=
6. Year 5
Scholarships award
- Rs.15,000/=
each for 9,000
children
7. “Shramasuva
Rakawarana” –
Reimbursement of
hospitalization expenses
–
Rs.25,000/=
8. “viyana”
Housing loan
scheme -
From Rs.100,000/= to
Rs.2,500,000/=
9. Year five
scholarships for children of
ETF members who
had to terminate
employment due to
permanent
disability -
Rs.15,000/= each
10. Educational grant
for children of
ETF
members who pass
the GCE(A/L) for
higher
education -
Rs.12,000/= each
for 5000
children |
| (5) |
How can a member obtain a
housing loan under the
‘Viyana’ Housing
Loan Scheme? |
| |
Loans
are granted by NDB Bank
subject to terms and
conditions agreed upon
with the ETF Board. Basic
requirements for this benefit
is having a
minimum of five years’
continuous membership with the
ETF and having
the required balance in
the member’s
account. More details can be
obtained from NDB Bank. |
|
(6) |
How
would a member’s family
benefit from the welfare
benefits available from the
Find? |
| |
Only
the member is eligible for ETF
benefits. The only exception
is Year
Five Scholarship Benefit
Scheme and financial grant for
A/L students
where
members’
children get the
benefit. |
| (7) |
What is the age limit for
benefit schemes? |
| |
For all
benefit schemes, the maximum
age limit is 70 years. |
| (8) |
Are there any benefits for
children of ETF members? |
| |
Yes.
Members’ children who
pass Year Five Scholarship
Examination conducted
by the Department of
Examinations with higher marks
qualify for
financial awards of Rs.
15,000/-. The number of
beneficiaries per year
is 9000. In addition to
this, 5000 children of ETF
members who
pass GCE (A/L)
examination
granted
Rs.12,000/= for
their higher
education
|
|
(9) |
Can a
member nominate the
beneficiary/beneficiaries who
would receive benefits in case
of death of the member? |
| |
ETF Board will act solely on
the basis of nominations made
for EPF
benefits. The
Board will not accept any
nomination made by members in
respect of ETF
dues,
except in the
case of Self-employed Member
Scheme. |
|
(10) |
In
case of a dispute with regard
to benefits of a deceased
member, what course of action
is taken by the Board? |
| |
The
Board
will seek opinion of its Legal
Division. The decision of the
Board
shall be
final in
determining payments to legal
heirs of a deceased member..
|
|
(11) |
According
to Shramasuwa Rekawarana
Medical Scheme, a member is
entitled to Rs
50,000/- only within his
service period. Does this mean
that if the
member joins
another
employer he/she can claim
another Rs. 50,000/- benefits
while being
employed with the latter. |
| |
No.
A member is entitled
to get only up to Rs. 50,000/-
during his/her lifetime. |
