24. Building and Other Construction
Workers' Welfare Fund and its application.-
(1) There shall be constituted by a Board a
fund to be called the Building and other Construction
Workers' Welfare Fund and there shall be credited
thereto-
(a) any grants and loans made
to the Board by the Central Government under
section 23;3
(b) all contributions made
by the beneficiaries;
(c) all sums received by the
Board from such other sources as may be decided
by the Central Government,
(2) The Fund shall be applied
for meeting-
(a) expenses of the Board
in the discharge of its functions under section
22; and
(b) salaries, allowances and
other remuneration of the members, officers
and other employees for the Board;
(c) expenses on objects and
for purposes authorised by this Act.
(3) No Board shall, in any
financial year, incur expenses towards salaries,
allowances and other remuneration to its members,
officers and other employees and for meeting
the other administrative expenses exceeding
five percent of its total expenses during that
financial year.
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