The scheme aims to provide financial security to Assam tea plantation workers through a contributory provident fund. It benefits eligible employees earning up to ₹6,500/- per month by accumulating 12% contributions from both the worker and employer, earning interest to be paid upon retirement.
Provident Fund Accumulation: Members receive credit for their own contribution of 12% of wages and an equal 12% contribution from the employer.
Interest: The accumulated deposits earn interest at a rate declared by the Board every year.
Final Settlement: The total credit balance with interest is paid to the member or nominee upon retirement, resignation, death, or invalidity.
Refundable Advances: Members can avail advances up to 25% of the balance or nine months' pay (whichever is less) for marriage, death ceremonies, medical treatment, or children's higher education.
Housing Advance: A non-refundable advance is available for constructing or purchasing a dwelling house, equal to 24 months' wage, total contribution, or housing cost, whichever is less.
Hardship Relief: A non-refundable advance is granted in cases of hardship due to natural calamities or the closure of a plantation.
The applicant must be employed in a tea plantation or a tea factory in Assam.
The applicant must receive a monthly salary of up to ₹6,500/-.
The applicant must be a daily wage worker (eligible from the first day of work).
✦ Required ◦ Optional
Step 1: The applicant furnishes their Bank Account Number, Name of the Banker, Branch, and IFS code to the tea garden Manager.
Step 2: The applicant submits a claim application for Provident Fund settlement or advances through their employer.
Step 3: The employer verifies the claim and forwards it to the Inspectorate, Zonal Office, or Head Office for settlement.
Step 4: Upon approval, the Board credits the payment directly into the beneficiary's bank account if the amount is ₹5,000/- or above.
