The Institute of Chartered Accountants of India has established a society “The Chartered Accountants’ Benevolent Fund” to extend financial help to its members in distress. Every active member of the Institute is eligible to get financial aid from the CABF. The objects for which the Fund is established is to provide financial assistance for maintenance, education or any other similar purpose to necessitous person, 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; or Widows and children of deceased persons who have been members of the Institute, whether subscribers to the Fund or not; or Relatives or other 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.

Presently there are four categories under which financial assistance is being provided, Such as Ex- Gratia One Time Financial Assistance, Financial Assistance for Medical Treatment and Grant of Monthly Financial Assistance from CABF A new scheme, the Financial Assistance for Medical Treatment related to corona/ Covid 19 has been launched. The same has been discussed in the separate article.

Also Read: ICAI – CABF Corona Assistance

1. Ex- Gratia Financial Assistance from CABF

The legal heir of the deceased member is eligible to receive ex-gratia financial assistance of Rs. 1, 50,000/- from Chartered Accountants’ Benevolent Fund for the sustenance of the family of the deceased member. The conditions of the said assistance are as follows.

a) One-time Ex-gratia financial assistance of Rs. 1, 50,000/- to the deceased family

b) This One-time ex gratia financial assistance is being given only in case of un-natural death (death due to reason other than ailment) of Member.

c) The deceased member should be below the age of 55 years.

d) The Monthly income of the family of the deceased member is not more than Rs. 25,000/- p.m. /Rs. 3, 00,000/- p.a.

e) Corona is an ailment hence the members who lost their fight with the Covid-19, this One-time Ex-gratia financial assistance is not available.

The application is required to be filled by the legal heir. The Meaning of Legal Heir in order of preference as the beneficiary is Wife if she is not remarried. Dependent Children, if they stay back with either of the parents and Dependent old parents of the deceased member.

Before filing the application for assistance, the member’s details are required to be updated in the SSP portal. This may be cumbrance process by the deceased family. The procedure of updating the member’s data should be at the part of the ICAI. A number of details are required to be filling in the form Such as Name of the Applicant/ Nominee, E-mail, PAN, Relationship with deceased Member Age Education Qualification Occupational details Monthly/Annual Income of Applicant, Monthly/Annual Income from all sources of the family, Monetary Compensation/ Benefits from LIC and Other Insurances/Employer and/or other sources, Total Monthly Expenditure Particulars of Dependent(s) of the Applicant, NEFT/Bank Details of the Bank of the Applicant for Fund Transfer, etc and the beneficiary is required to upload the following.

a) The Deceased Documents: death certificate giving the reason for death along with necessary proof

b) The Deceased Documents: Copy of last Salary Slip/ Copy of ITRs of last Two years (If Last employment status is N/A, the Last Salary withdrawn is not mandatory )

a) The Beneficiary Documents: PAN

b) The Beneficiary Documents: Bank Statement of Last Two Years

c) The Beneficiary Documents: Copy of ITRs of last Two years

d) The Beneficiary Documents: Cancelled Cheque

e) The Beneficiary Documents: Scan a copy of the signature

f) Affidavit duly notarized declaring by legal heir relation with the deceased member.

The Application along with all enclosures/documents mentioned above as required to be upload online at https://cabf.icai.org/exgratia The application form opens with the six-digit of Deceased membership number. An acknowledgment mail will be generated along with a unique reference number to track application status. To track, one is required to Enter a Unique Reference Number for the live status of the application form.

2. Financial Assistance for Medical Treatment

There is a grant of the financial assistance required for the Medical Treatment of a member based on medical bills paid/to be paid to the hospital concerned for the treatment availed/to be availed. This grant of financial assistance for treatment is considered only in the case of diseases or ailments mentioned below:

1. Cancer.

2. Disease or ailment of the heart, blood, lymph glands, bone marrow, respiratory system, central nervous system, liver, gall bladder, digestive system, endocrine glands, requiring a surgical operation.

3. Open and closed heart surgery.

4. Fracture in any part of the skeletal system or dislocation of vertebrae requiring surgical operation or orthopaedic treatment.

5. Neurosurgery, kidney transplant, and dialysis.

The member and the dependants are eligible to draw Medical assistance from Chartered Accountants’ Benevolent Fund. The following details are required to fill in the application form. Financial Assistance will be considered for dependent parents with no age bar where gross total income as per Income-tax Act of the family of the Member is less than Rs. 10 lacks. Further, a Dependent parent with income shall also be now eligible (as against no income of dependent earlier) provided the total gross income as per Income-tax Act of the family of the Member is less than Rs. 10 lacks. A separate Application Form (in the case of dependent for each) for Medical Assistance for treatment of CORONA Disease from the CABF is required to be submitted in the case of multiple requests of a dependent. This is in addition to Corona assistance having a limit of Rs 1,50,000/-.

a) Name of the Applicant & Membership No.

b) Name of the Patient

c) Relationship with Patient

d) Age of Patient

e) Name of the Ailment/Disease

f) Whether Medical Assistance is sought is covered by any hospitalization scheme

g) Estimated amount of treatment – supported by medical reports & bills (in original) which is beyond benefit received from Medical Insurance Scheme.

h) Name of the Hospital where the treatment is undertaken.

i) Address of the Hospital

j) Source of medical expenditure if already incurred

k) Amount of Financial assistance sought from the CABF towards medical treatment.

l) Any other particulars or details that the Applicant may wish to provide

m) The following documents are required to be uploading.

1) Copy of Diagnosis, in original

2) Medical Report Bills of Hospital, in original

3) Report of Medical Examination

4) Certificate from Medical Insurance company, if Disease is not covered under medical insurance.

5) Copy of PAN Number of the Applicant

6) Cancelled Cheque

7) Copy of Aadhar Card

8) Scan copy of applicant signature

9) Last Employment and Last Salary- If the Last employment status is N/A, the Last Salary withdrawn is not mandatory

The Application along with all enclosures/documents mentioned above as required to be upload online at https://cabf.icai.org/medical. An acknowledgment mail will be generated along with a unique reference number to track application status. To track, one is required to Enter a Unique Reference Number for the live status of the application form.

3. Monthly Financial Assistance from CABF

Maximum monthly assistance is available to beneficiaries eligible to receive the assistance of Rs.15000/- to Rs.25000/- per month according to the circumstances of the use renewable after one year. This is for the maintenance of the family of members/widow/relatives of deceased members. Monthly Financial assistance will be given only in case of un-natural death (death due to reason other than ailment) of Member below the age of 55 years and the Monthly income of the family of the deceased member is not more than Rs. 25,000/- p.m/Rs. 3,00,000/- p.a

The person is required to enter the Membership Number of the deceased members for applying for Monthly assistance. The application is in parts. The requirements of Part A about the deceased member are as follows.

1. Membership Number (Prefilled)

2. Name (Prefilled)

3. Date of Birth

4. Date of Death

5. Age on Death- Update the SSP portal first. Death details will prefill after updating at SSP Portal. If Age of Death is more than 55, the dependants are not eligible for monthly assistance.

6. Cause of Death.

7. CABF Life Membership No – If any.

8. Occupational Details

9. Place of Work

10. Last Employment and Last Salary

The requirements of Part B about the Applicants/Beneficiary are as follows.

1. Name of the Applicant/ Nominee & Applicant E-mail

2. Relationship with deceased Member

3. Age

4. Education Qualification

5. Occupational details

6. Monthly/Annual Income of Applicant

7. Monthly/Annual Income from all sources of the family

8. Monetary Compensation/ Benefits from LIC and Other Insurances/Employer and/or other sources

9. Total Monthly Expenditure

10. Amount requested for Monthly Financial Assistance

11. Particulars of Dependent(s) of the Applicant

12. Documents to be enclosed (All attachment are mandatory)

a. Copy of PAN Number of the Applicant

b. Bank Statement of last two years.

c. Cancelled Cheque

d. ITR of last two years of the Deceased Member

e. Scan a copy of applicant signature

13. Banking Details are required to fill in the form.

14. Undertaking: I undertake to inform the Member Secretary, CABF within 30 days in the event of my re-marriage (if applicable).I hereby also declare/undertake that the particulars given above are true to the best of my knowledge and I have not concealed any factual information therefrom. In the event of any information found to be false, I will be disqualified for the receipt of any assistance from the Chartered Accountants Benevolent Fund and would be bound to refund the amount even if received already to Chartered Accountants Benevolent Fund.

The Application along with all enclosures/documents mentioned above as required to be upload online at https://cabf.icai.org/financial. An acknowledgment mail will be generated along with a unique reference number to track application status. To track, one is required to enter a Unique Reference Number for the live status of the application form.

Forwarding of the Online Application form

While filing an application under the above mention three categories, the beneficiary is required to choose the person among the mentioned here to whom the beneficiary wants to forward the application for a recommendation. Select Role: President (If you select the President, it also shows the regional council and the name of the President of 2020-21 – This require a correction) OR Branch followed by region and name of Branch OR Member of the Managing Committee of the CABF, (If you select the Member CABF, it also shows the regional council– This require a correction) The names of all the members are also not appearing. OR Council Member followed by region and name, OR Member of the regional Managing committee followed by region and name of Branch OR Ex-Presidents or Members of Regional Councils.

Author Bio

Qualification: CA in Practice
Company: N/A
Location: Meerut, Uttar Pradesh, IN
Member Since: 17 Jun 2018 | Total Posts: 119
Author was Member of ICAI- Regional Research Committee 2013-14 and ICAI- Committee For Direct Taxes 2011-12 and can be reached at email [email protected] or on phone Phone: 0 1 2 1-2 6 6 1 9 4 6. Cell: 9 8 3 7 5 1 5 4 3 2 having office at 1 1 5, Chappel Street, Meerut Cantt, UP, INDIA) View Full Profile

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