Insurance fund valuation governs contribution rates, benefit levels, and benefit periods under the scheme. The Central Board, with prior approval of the Central Government, must appoint a valuer every three years to assess the Insurance Fund's sustainability, solvency, and the adequacy of the contribution rate and benefit structure. The Central Government may direct valuation at other times and may, in consultation with the Central Board, alter the rate of contribution, scale of benefits, or benefit period under the scheme.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Insurance fund valuation governs contribution rates, benefit levels, and benefit periods under the scheme.
The Central Board, with prior approval of the Central Government, must appoint a valuer every three years to assess the Insurance Fund's sustainability, solvency, and the adequacy of the contribution rate and benefit structure. The Central Government may direct valuation at other times and may, in consultation with the Central Board, alter the rate of contribution, scale of benefits, or benefit period under the scheme.
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