Fixed Subscribers and Duration
The number of subscribers, monthly installment amount, and duration of the contest or program are predetermined and fixed.
Rules and Regulation
Fixed subscribers, organiser roles and responsibilities, along with monthly collection, distribution, and fee structure.
Role of Organiser/Foreman
The contest or program is managed by an organiser/foreman, who is also a subscriber.The organiser is responsible for collection, auctions, distribution, and record-keeping of all activities
Organiser's Responsibilities
As a subscriber and organiser, the individual is responsible for overseeing the smooth operation, including collection, auctions, distribution, and record-keeping of all related activities.
Organiser's Fee (Reiteration)
The organiser earns a fee calculated as a percentage of the chit value, which is derived from the total collection each month.
Chit Value and Total Collection
The chit value is linked to the total monthly collection from participants, determining the amount for prizes, distribution, and rewards.