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Section 53: Writing off of losses

The Employee's State Insurance Rule 1950State Rules of Chhattisgarh · 1948

(1) Where the Corporation is of the opinion that the amount of contribution, interest and damages due to the Corporation has become irrecoverable, the Corporation or any other officer authorised by it in this behalf may sanction the writing off of the said amount, subject to the following conditions, namely :—

(i) establishment or factory has been closed for more than five years and the whereabouts of the employer cannot be ascertained, despite all possible efforts ;

(ii) decree obtained by the Corporation could not be executed successfully for want of sufficient assets of the defaulting employer ; or

(iii) claim for contribution is not fully met by —

(a) the Official Liquidator in the event of factories/establishments having gone into liquidation ; or

(b) the Commissioner, of payments in the event of unit being nationalised or taken over by the Government.

Where this provision sits

ActThe Employee's State Insurance Rule 1950
Section53
Marginal noteWriting off of losses
JurisdictionState of Chhattisgarh
StatusIn force as published by the source

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