অনুমোদনের শর্তাবলি

(1) Subject to the fulfilment of the conditions specified below and other conditions determined by the Board, the approval of the gratuity fund shall remain in force—

(a) In connection with the establishment of any business or industry conducted in Bangladesh, the fund concerned shall be established under an irrevocable trust, and at least 90% (ninety percent) of the employees of the said business or industry must be employed in Bangladesh;

(b) The sole purpose of the fund shall be to provide annual financial assistance to employees engaged in the business or industry who retire at the prescribed age or thereafter, or who become incapable of working before such retirement, or, in the event of the death of such an employee, for the welfare of their widow, children, or dependents, if any;

(c) The employer of the business or industry must be a contributor to the fund; and

(d) All benefits granted from the fund shall be payable only in Bangladesh.

(2) The order granting or withdrawing approval shall take effect from the date on which the Commissioner of Taxes informs the trustee of the fund in writing of such order.

Comment :