Purpose of the Welfare Fund
The welfare fund supports Chapter activities and member welfare initiatives. It is not a personal savings account, but a shared resource used responsibly for the collective benefit of all members.
Monthly Contributions
Kiti (Savings Pool)
INR 500 per member per month.
Merry-go-round
INR 1500 rotational contribution system among members.
Start Period
Contributions begin in October. New members join the next cycle.
Loans
- Members may request loans from the welfare fund
- Interest rate starts at 12.5% (adjustable)
- Must be an active member in good standing
- Approval is based on committee evaluation
Expenditures
Events
Funding for gatherings such as Diwali parties and end-year events.
New Students
Airport pickups, meals, and initial support.
Other Initiatives
Approved Chapter programs and activities.
Transparency & Record Keeping
- Treasurer maintains financial records in Google Sheets
- Only authorized officers have edit access
- Members can view summarized reports securely
Fines & Compliance
Late Payment
INR 100 fine
Absenteeism
INR 200 fine (without valid reason)
Notice Requirement
Members must inform 1 day prior unless in emergencies
Members Only Section
Active members can access financial records, loan logs, and attendance data through secure Google Drive links with restricted permissions.