Employees in State Corporations, Statutory Boards and the Private Sector are required to obtain membership of the Employees Trust’ Fund Board and with the aim of providing the privileges and benefits enjoyed by them to those engaged in self employment as well, Self employed persons have been made eligible to obtain membership of this Fund in terms of section 18 of the Employees’ Trust Fund Act.No 46 of 1980. This act while being amended as Employees’ Trust Fund(Amended) bearing no.47,0f 1988, Employees in Migrant Workers service too were made eligible under Section 6 therein obtain membership of this Fund. Hence, persons who are employed abroad are also eligible to get the membership.
Although, “a Self Employed person“ is not defined as such, Common examples for Self Employed persons are given below.
Ex:
Garment, Iron , Jeweler,
Brass, pottery, Handycraft, Tile and brick, Carving, etc.
Retail , Pavement, Day Fair
Participants directly in fishing industry
Lawyers, Accountants
Nevertheless, a government servant drawing a pension and a person below 18 years of age are not eligible to obtain membership under this scheme. Although there is no maximum age limit to obtain the membership, a member who is 70 years of age or above is not entitled the benefits and would receive only the annual interest and dividends in respect of contributions.
Membership can be obtained by forwarding a duly completed Application Form SE-A for self employed and Form MW-A for migrant workers to the Head Office, Area Business Office, District Office or a Field Officer, alone with the contribution for membership.
Applicants who E-mail their applications should make arrangements to send their first month contribution to the following address.
Every member who obtain Membership would be issued with a Certificate of Membership without delay.
At the end of year, annual interest and dividend Would be created to the account of each individual member. A membership statement of Account would be issued to member before 30th September every year which contains details of annual interest, His account balance etc.
If any member fails to make the due payment of contributions for 3 months, in a row, or for 5 months off and on during one specific year, he or she forfeits his or her entitlement for the interest and dividend for the relevant year.
Requests for benefits may be made by tendering the relevant form to the Self Employment Section of the Head Office, handing them over to the Business Offices , or District Officers or through Field Officers. Payment of benefits is under the conditions laid down by the Benefits Administration Section.
The benefits in force at present are, Automatic Life Insurance Cover (subject to maximum of Rs. 100,000/-) Permanent & Total Disability Benefit (subject to a maximum of Rs.300,000/-). Financial Assistance for Heart-Surgery (Rs.350,000/-) Financial Assistance for Kidney Trans plant operation (Rs. 350,000/-), Re- imbursement of Intra Ocular Lens Implant (Rs. 25,000/- for each eye), 9000 Scholarships of Rs.15,000/- each will be awarded to Children who get through the year Five Scholarship examination with merit. Hospitalized Medical Insurance Scheme, annually subject to a maximum of Rs. 25,000/-.The maximum amount in that can be obtained during the membership period is Rs. 50,000/-, Housing Loan Scheme.
In respect of a Member if the nearest payment is in arrears, he is regarded as an inactive member. Such inactive members can acquire the activate status by paying the due arrears.
