Chapter 6: Management of Specialized Funds of the Ministry of Finance Decree No. 8
Article 22: Specialized funds refer to the funds withdrawn or set up by an institution in accordance with the regulations for special purposes.
Article 23 Dedicated funds include:
(1) Repair and purchase funds, i.e., funds extracted in accordance with a certain percentage of the income from business and operating income, and expended in repair costs and equipment purchase costs (50% each), as well as funds transferred in accordance with other provisions, for the maintenance and purchase of fixed assets of the institution.
(2) Employee Welfare Fund, i.e., funds withdrawn in accordance with a certain percentage of the balance and transferred in accordance with other provisions, for the use of collective welfare facilities and collective welfare benefits for the employees of the unit.
(3) The medical fund, i.e., the funds that are not included in the scope of the public medical expenses of the institutions, are withdrawn from the income in accordance with the standards of the public medical expenses stipulated by the local financial departments and are used for the public medical expenses of the employees with reference to the relevant provisions of the public medical system.
(d) Other funds, i.e., special funds withdrawn or set up in accordance with other relevant regulations.
Article 24 The proportion of the various funds to be withdrawn and the method of management shall be carried out in accordance with the uniform provisions of the State if there are such provisions; if there are no uniform provisions, they shall be determined by the competent department in conjunction with the financial department at the same level.
Response time: 2021-09-06, please refer to the announcement on the official website of Ping An Bank for the latest business changes.
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