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Budget Manual of SPFO, 2025
Applicable to:
All concerned in Seamen’s Provident Fund Organisation
Effective Date:
01 January 2025
Superseded Circulars:
None
Key Changes and Requirements
1. Budget Preparation and Approval
The Seamen’s Provident Fund Organisation (SPFO) is required to prepare its budget every year as per the provisions of Para-49 of the Seamen’s Provident Fund Scheme, 1966.
- Budget Submission: The budget shall be placed before the Finance Committee for recommendation and then before the Board of Trustees (BoT), SPFO for approval.
- Budget Contents: The budget shall show separately the probable receipts and expenditure for the following financial year.
- Budget Sanction: The Government may make modifications in the budget before sanctioning it.
2. Budget Estimate and Revised Estimate
Budget Estimate and Revised Estimate are to be prepared as per the guidelines mentioned in the circular.
- Budget Estimate: A projection of funds planned to be spent under various heads for the next financial year.
- Revised Estimate: A counter to the Budget Estimate, explaining expenses for the current financial year after a mid-year survey.
II/4 Annexure - I: Standard Budget Head
Important Note
Ensure that the expenditure is booked only to the relevant Budget Head. Any unforeseen expenses may be shown under the head ‘Contingent Expenses’.
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