Mutual Fund for T&W Employees
The mutual funds set up by the Company respectively for production workers and official workers in October 2002 and September 2009 are collectively referred to as the Mutual Fund for T&W Employees.
1. Sources of the Mutual Fund Based on
The principle of voluntary participation, the Mutual Fund comes from:
1) The contributions by employees, RMB 5 per month from each production worker and RMB20 from each official worker, spared from their wages;
2) The contributions by the Company in the same proportion contributed by employees.
2. Management of the Mutual Fund A Management
Committee for Mutual Fund has been set up through democratic election to ensure the rationale use of fund, review and management of fund application.
3. Scope of application and the principles
1) Application: The Fund is mainly used as financial assistance to employees who suffer from illness or family misfortunes so as to ensure that all the participants can receive medical assistance or living support to relieve pressures caused by individual and family misfortunes.
2) Principles: The annual income and payment shall be roughly balanced, and it’s advocated to use up the mutual fund in the year of contribution.
Other mutual assistance launched by employees voluntarily
1. Employees are not encouraged to voluntarily organize private donations through the Company's network or email system in the name of the Company.
2. Upon the approval of the Management Committee for Mutual Fund, donations can be organized by the Committee among a certain department or workshop of the Company.