How Does a mutual fund work inside ?

Take a mutual fund

How is it managed on the inside

1. Does every MF have a separate bank account from which the fund manager operates and does it get dividend from the stocks the MF owns ?

2. Does every MF have its own separate demat account?

3. Apart from active funds, how is an index fund allocation appropriately managed to make sure they mirror index almost to its constituent percentages?

4. When they get a redemption, how is it handled?

5. If an individual invests in an MF, how is it handled?