(1) A board of directors will be formed as follows for the operation, supervision and management of the work to be done on behalf of the fund:-
(a) Secretary, Ministry of Labor and Employment – ​​Chairman (b) Deputy Governor, Nepal Rastra Bank (See Regulatory Department) – Member
(c) Joint Secretary, Ministry of Finance (Budget and Program Oversight) – Member
(d) Joint Secretary, Ministry of Law, Justice and Parliamentary Affairs – Member
(e) Joint Secretary, National Planning Commission (Looking at Social Sector) – Member
(f) Joint Secretary, Ministry of Cooperatives and Poverty Alleviation – Member
(G) Three members, including at least one woman nominated by the Ministry from among trade union federations. (h) Three members, including at least one woman, nominated by the Ministry from amongst the employers as prescribed by the Ministry (i) Executive Director – Member – Secretary
(2) The term of office of the members under clauses (g) and (h) of sub-section (1) shall be four years.
(3) Notwithstanding anything written in sub-section (2), if the performance of a member as per clause (g) or (h) of sub-section (1) is not satisfactory, the Ministry may remove him from office. He should be given a chance to be heard before removing him.
(4) If the position of a member of the committee becomes vacant for any reason, such position shall be filled for the remaining period by the same process by which the position was filled.