The objective for which the fund is established is to provide financial assistance for maintenance, education or any other similar purpose to necessitous persons being:
- Persons who are or have been members of the Institute, whether subscribers to the fund or not; or
- wives and children of persons who are or have been members of the Institute, whether subscribers to the fund or not.
- widows and children of deceased persons who have been members of the Institute whether subscribers to the fund or not.
- relatives or others who were dependent for support on a person who has been a member of the Institute, whether subscriber to the fund or not; and who has died without leaving a widow or child.
Procedure for becoming a member of the CABF : There are two categories of members :-
- Life Member : A single payment of 5000/- shall make a person eligible to be admitted as a life member of the fund. Thereafter he shall not be liable to pay any amount on account of subscription and shall be styled as a 'Life Member'.
- Ordinary members : All other members shall be described as 'Ordinary Members' and shall have to pay an annual subscription of
1000/-. Apart from this any member can subscribe for 'Voluntary Contribution'.
Procedure for making payment :
Membership fees to the respective decentralised offices by membership fees to the respective regional offices. cheqe/DD to H.O. or respective decentralised office in place of cheque/DD to HO or respective decentralised offices.
Application format :
The application for enrolment as a member of the fund shall be made in form 'A' . The form can be downloaded from the Institute's Website www.icai.org (or) can be had from the decentralized offices of the Institute.
Extent of assistance available :
Monthly Assistance :
Maximum monthly assistance available to a member or persons eligible to receive the assistance is upto 4500/- to 5500/- per month according to the circumstances of the use renewable after one year. This is for maintenance of family of members/widow/ relatives of deceased members. Financial assistance will be given only to the members/widows/relatives whose monthly family income is not more than 15000/-.
Procedure for availing assistance :
Application for financial assistance should be made in prescribed format along with all relevant supporting documents mentioned therein. The application must be recommended by any Central Council Member or Chairman/Vice Chairman/Secretary of any Regional Council or Branch/ Ex-President/Chairman/Vice-Chairman and Member Secretary/Member of Managing Committee of CABF /Member of Managing Committee of Regional Council.
- Click here to download CABF Claim Form