Death Benefit Fund (DBF)

Overview

Effective April 1, 1998, the Society established the Death Benefit Fund (DBF) to provide structured financial assistance to the beneficiaries of its members. The primary objective of this fund is to disburse an immediate lump-sum monetary relief of Rs. 10,000/- to the widow or designated legal heir(s) of a Shareholder who passes away while in harness.

Barber

Operational & Financial Framework

The fund operates under a strictly regulated capitalization and disbursement model to ensure long-term sustainability and compliance:

  • Funding Mechanism: The DBF is capitalized via a mandatory annual contribution of Rs. 30/- from each individual Shareholder. This contribution is automatically debited from the member's C.M.T.D. Account on an annual basis.
  • Financial Deficit Management: To guarantee uninterrupted coverage, any expenditure exceeding the total annual contributions collected from members is fully absorbed by the Society and charged directly to its annual revenue account.
  • Claim Processing: Disbursements are subject to the submission and verification of the requisite legal and operational documentation, as determined by the governing body.
Barber

Governance Notice

The Board of Directors maintains complete administrative oversight and holds the sole authority to frame, amend, and enforce the necessary working rules and operational guidelines governing the fund.

Barber