STAFF WELFARE FUND (SWF)

Executive Committee Members of Staff Welfare Fund.

Sl. No.Name & DesignationTitle
1.Mr. Thinley Dorji Joint Managing DirectorChairman
2.Mr. Gyembo, Chief Finance OfficerSecretary
3.Mr. Ugyen Dorji, Divisional Accountant Treasurer
4. Mr. Ugyen Dorji, Superintending EngineerMember
5.Mr. Pema Wangchuk Sherpa, Sr. Labour Off. Member
6.Mr. Pema Dakpa, Assistant Engineer Member
7.Mr. Chokey Dorji, Section OfficerMemeber
8.Mr. Pema Dorji, Upper Desk ClerkMember
9.Mr. Phub Gyeltshen, Lower Desk ClerkMember
10.Mr. Sonam Lhamo, Lower Desk Clerk.Member
11.Mr. Jinpa Tharchen, Section Officer.Member

Receipt and Payment Account as on June 30, 2019 :

Sl. No.Particular
As of 31.07.2018 In (Nu.)
For the period 01.08.2018 to 31.10.2018 in (Nu.)
Total Cumulative as on 30.06.2019 in (Nu.)
1.Receipts
a.SWF Remittances

16,492,934.00

754,900.00

19,150,184.00

b.Interest Earned from SWF SB Account

439,837.03

16,292.20

534,581.29

c.Interest Earned from Fixed Deposit--

480,438.36

Total Receipts

16,932,771.03

771,192.20

20,165,203.65

2.Payments
a.Welfare Released

10,855,000.00

360,000.00

12,44,300.00

b.Refund to SWF members

1,082,124.00

77,375.00

1,378,799.00

c.Bank Charges

1,600.00

-

1,750.00

d.Donations

975,274.00

0.00

1,325,274.00

e.Honorarium

47,000.00

5,000.00

55,000.00

f.SWF Picnic expenditure

728,000.00

0.00

702,000.00

g.Misc. Expenses

37,150.00

0.00

37,865.00

Total Payment

13,726,148.00

442,375.00

15,945,988.00

Fixed Deposit for 3 years @ 8 % with BDBL w.e.f 13.11.2015


2,000,000.00

-

-
3. Balance Fund

1,206,623.03

328,817.20

4,219,215.65

a.BOB, Thimphu A/c No.100635618

1,206,623.03

328,817.20

4,129,215.65

Total

1,206,623.03


328,817.20

4,129,215.65

b. Un-encashed

28,550.00

(28,550.00)

-

Closing Bank Balance as per the Bank Statement

1,235,173.03

300,267.20

4,219,215.65

Following decisions were taken as per the Committee Meeting:

1. PHPA-II/SWCM/01/2018 dated 24.05.2018

a. SWF will be used solely for SEMSO will not be used for the donations and any other activities.

b. Based on the discussion held on the need increase of SWF amount by at least Nu. 10,000/- from the current admissible amount, it was decided to put in the next meeting after detail analysis by the Secretary and Treasurer for the future fun flow.

b. It was decided that no load will be paid from the welfare fund.

c. The inclusion of the consolidated staff in the welfare was ruled out in view of the amount of salary they receive.

e. It was decided to have simple accounting software for convenience and reliable record keeping, which will be outsourced at a minimum cost. It is to be explored and discussed in the next meeting.

2. PHPA-II/SWCM/02/2018 Dated 31.07.2018

a. Decided to increase the SEMSO by Nu.10,000.00 on the existing amounts.

b. It was decided that treasurer shall make disbursement of SEMSO with an endorsement of the Secretary.

c. Fund position will be uploaded quarterly on PHPA-II website.

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