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ICSI - CSBF Benefits and admission as a Life Member

Posted on 16 April 2012,    
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ICSI has established the Company Secretaries Benevolent Fund (CSBF) in the year 1976 which seeks to create big security umbrella to derive comfort and Security

Benevolent Fund - We Care

The Fund provides assistance for education/medical or for any other similar purpose in deserving cases to the

• Members of the ICSI
• Spouse and Children of the deceased members

Looking towards Secure Future

• The financial assistance upto Rs. 60,000 is provided to the members for medical expenses for self, spouse or dependents in deserving cases on receipt of request.
• Financial assistance for education at the rate of Rs. 10,000/- per child (subject to maximum of two children) in deserving cases is provided to the family of the deceased members.
• As a member of the Fund upto the age of 60 years it covers the member's future through the Group Life Insurance Policy for a sum of Rs. 2,00,000/-. In addition to this additional financial assistance of Rs. 3,00,000/- is provided to the family of the deceased member of the Fund from the CSBF. The widow /dependents of the deceased member above 60 years of age may be provided financial assistance upto Rs. 2,00,000/- from the fund depending upon the merit of the case.
• The assistance is provided in minimum time possible.

Details of the Benevolent Fund

• Fund is a society registered with the Registrar of Societies, New Delhi
• Fund is managed by the Committee consisting of 12 members
• President , Vice President and Secretary of the ICSI are ex-officio members of the Managing Committee of the Fund
• The Fund is recognised under the Section 12 A of the Income Tax Act.

Financial Position of the Fund (as on 31.3.2011)

• Corpus: Rs. 311.63 lacs
• Investments: Rs. 404.79 lacs
• Total number of members: 7901
• Total assistance provided in the year 2010-11 : Rs. 14.55 lacs

Advantages to you

• Contribution to the Fund is a noble cause.
• Members of the ICSI after becoming the member of CBSF get the additional security shield for the life.
• Contribution to the Fund qualify for the deduction under section 80-G of the Income Tax Act, 1961.

... And it's all so easy

• You have just to fill up a form provided here to become a member of the Fund.
• You have to pay a small amount of Rs.7,500/- as a one time contribution for your life membership of the Fund.
• You have to provide the names of the dependents.
• You can deposit the form at Headquarter or with any Regional Council/Chapter
• The cheque / Demand draft has to be drawn in favour of Company Secretaries Benevolent Fund. The application has to be made to the Secretary & CEO of the ICSI


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