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KSFE LTD .
(KERALA GOVERNMENT UNDERTAKING )
What is a KSFE Chitty?
A KSFE Chitty is basically a contract between the
foreman and the Subscribers.As per the contract, each subscriber agrees to remit a fixed amount of money every month for a number of months.
How many tickets can be enrolled in each
chitty?
The number of tickets enrolling in a chitty will
be equal to the number of months for which
the remittance
have to be made or the duration of chitty in
months.
What is Chitty “Prize Money”?
The total of the periodic subscription, called
the chitty amount, will be given out as “prize
money” to the person who bids by allowing for
the maximum reduction in the prize money.
The maximum reduction possible is 25% as per
the prevailing Chitty Act and if there are more
than one subscriber interested in bidding at
25% reduction, the numbers of the such
bidders will be put to a draw.
Thus each subscriber gets an opportunity to
receive the prize money once during the
tenure of the chitty.
All the promoters have to contribute the
periodic subscription till the end of the chitty.
Foreman’s Commission
The foreman is entitled to a certain percentage
of the chitty amount (not more than 5% of the
chitty amount) as his commission from each
member
How many tickets can one subscribe in a
single chitty?
Maximum number of tickets one can subscribe
is limited to 10% of the total number of tickets
of that chitty, subject to approval by Foreman.
Services rendered.
The Company has appointed daily door
collection agent who will come and collect the
amount towards monthly instalment daily from
a subscriber’s office/ residence. Customer can
remit the chitty instalment in any of the
Branches of KSFE.
How can one enroll in a chitty?
A person can enroll in a chitty either by through the agents of KSFE.
Contact Person :
Jeevan R
Contact Number:- +91 9633911113
KSFE Agency/Agency Number/026/26/2013
Kayamkulam Main Branch
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