• JCPL is registered chit fund company under Company's act 1956.
  • Any agreement has to be signed in the format prescribed by the Co-operative Department at the time of joining a group.
  • You have to pay the full subscription for the first two months.
  • The company JCPL also a subscriber in all the group as per the Chit Fund Act.
  • You are eligible to receive dividend from the third month onwards.
  • The maximum discount will be 30% and minimum in 5% of the chit value.
  • Intimation for payment of instalments will sent in advance every month.
  • You may pay instalmentts through Cash / DD / Cheque, Directly in our office or to our collection Assistant who comes to your doors.
  • Proper receips will be issued on the payment and the details will be noted in the passbook.
  • Failure in remittance before due date attracts penal interest.
  • During monthly auction, if the number of bidders quoting maximum offer exceeds one, then a drew will be conducted to decide the prized bidder.
  • For future liability we insist upon suitable securities or guarantors or both.
  • After completion of formalities the prized money will be released to the prized bidder before the next auction date by way of A/c.payee cheque only.
  • Discontinued chit amounts will attract penalty at 5% of the chit value as per company rules.
  • Cheques returend charges compulsory.