Amendment of section 1.
"(1) This Act may be called the Employees' Provident Funds and Miscellaneous Provisions Act, 1952.".
19. In section 2 of the Employees' Provident Funds Act,—
(a) in clause (c), the words "0^, as the case may be, the Insurance Scheme" shall be inserted at the end;
Amendment of section 2.
(b) in clause (ff), after the words "a Scheme", the words "or the Insurance Scheme, as the case may be," shall be inserted;
(c) in clause (ff{)t after the words "any Scheme", the words "or the Insurance Scheme, as the case may be" shall be inserted;
(d) clause (ia) shall be re-lettered as clause (ie) and before clause (ic) as so re4ettered, the following clauses shall be inserted, namely: — ' (ia) "Insurance Fund" means the Deposit-linked Insurance Fund established under sub-section (2) of section 6C;
(ib) "Insurance Scheme" means the Employees' Depositlinked Insurance Scheme framed under sub-section (I) of section 6C:':
(e) in clause (j), the words "or, as the case may be, the Insurance Fund" shall be inserted at the end.
20. In section 5A of the Employees' Provident Funds Act,—
(a) in sub-section (3), after the word, figure and letter "section 6A", the words, figure and letter " and section 6C" shall be inserted;
Amendment of section
5A.
(b) in sub-section (4), for the words "and the Family Pension Scheme", the words ", the Family Pension Scheme and the Insurance Scheme" shall be substituted.
21. In sub-section (3) of section 5D, and section 5E, of the Employees' Provident Funds Act, for the words "and the Family Pension Scheme", the words ", the Family Pension Scheme and the Insurance Scheme" shall be substituted.
Amendment of sections 5D and
5E.
22. After section 6B of the Employees' Provident Funds Act, the folloiWing section shall be inserted, namely: — Insertion of newsection
6C.
928 THE GAZETTE OP INDIA EXTRAORDINARY [PART II— '6C. (1) The Central Government may, by notification in the Official Gazette, frame a scheme to be called the Employees' Depositlinked Insurance Scheme for the purpose of providing life assurance benefits to such employees as are covered by any Scheme.
Employees' Deposit— linked Insurance Scheme. (2) There shall be established, as soon as may be after the framing of the Insurance Scheme, a Deposit-linked Insurance fund into; which shall be paid by the employer from time to time in respect of every such employee in relation to whom he is the employer, such amount, not being more than one per cent, of the aggregate of the basic wages, dearness allowance (if any) for the time being payable in relation to such employee as the Central Government may, by notification in the Official Gazette, specify.
Explanation.—For the purposes of this sub-section, the expressions '"dearness allowance" and "retaining allowance" have the same meaning as in section 6.
(3j The Central Government shall, after due appropriation made by Parliament by law, contribute to the Insurance Fund in relation to each employee covered by the Scheme an amount representing one-half of the contribution which an employer is required, by sub-section (2), to make.
(4) (a) The employer shall pay into the Insurance Fund such further sums of money, not exceeding one-fouth of the contribution which he is required to make under sub-section (2), as the Central Government may, from time to time, determine to meet all the expenses in connection with the administration of the Insurance Scheme other than the expenses towards the cĉ st of any benefits provided by or under that scheme.
(b) The Central Government shall, after due appropriation made by Parliament by law, pay into the Insurance Fund such further sums of money representing one-half of the sums payable by the employer under clause (a) to meet all the expenses in connection with the administration of the Insurance Scheme other than the expenses towards the cost of any benefits provided by or under that Scheme,
(5) The Insurance Fund shall vest im the Board and be administered by it in such manner as may be specified in the Insurance Scheme.
(6) The Insurance Scheme may provide for all or any of the matters specified in Schedule IV.
(7) The Insurance Scheme may provide that any of its provision shall take effect either prospectively or retrospectively on such date as may be specified in this behalf in that Scheme.'.
23. In sub-section (1) of section 7 of the Provident Funds Act, for the words "amend or vary the Scheme or the Family Pension Scheme, as thes case may be,", the words "amend or vary, either prospectively or retrospectively the Scheme, the Family Pension. Scheme or the Insurance Scheme, as the case may be" shall be substituted.
Amendment of section 7, SBC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 929
24. In sub-section (l) of section 7A of the Employees' Provident Funds Act, after the words "Family Pension Scheme", the words "or the Insurance Scheme" shall be inserted.
Amendment of section
7A.
25. In clause (a) of section 8 of Employees' Provident Funds Act,—
(a) for the word "Scheme", wherever it occurs, the words "Scheme or the Insurance Scheme" shall be substituted;
Amendment of aectioft
8.
(b) for the words "the Fund", the words "the Fund of, as the case may be, the Insurance Fund" shall be substituted.
26. In section 8A of the Employees' Provident. Funds Act,—
(a) in sub-section (i), for the words and brackets "The amount of contribution (that is to say the employer's contribution as well as the employee's contribution)", the words and brackets "The amount of contribution (that is to say the employer's contribution as well as the employee's contribution in pursuance of any Scheme and the employer's contribution in pursuance of the Insurance Scheme)" shall be substituted;
Amendment of section
8A.
(b) in sub-section (2),, after the words "employee's contribution", the words "under any Scheme" shall be inserted.
27. In sub-section (3) of section 10 of the Employees' Provident Funds Act, after the words "Family Pension Scheme", the words "and alflo in relation to any amount payable under the Insurance Scheme" shall be inserted.
Amendment of section
10.
28. In section 11 of the Employees' Provident Funds Act,—
(a) in clause (a),—
(i) for the word "Scheme", in both the places where it occurs, the words "Scheme or the Insurance Scheme" shall be substituted;
Amendment of section
11.
(ii) after the words "the Fund", the words "or, as the case may be, the Insurance Fund" shall be inserted;
(b) in clause (b), for the words "the provident fund", in both the places where they occur, the words "the provident fund or any insurance fund" shall be substituted;
(c) the following Explanation shall be inserted at the end, namely:— 'Explanation.—In this section and in section 17, fund" means any fund established by an employer under any scheme for providing benefits in the nature of life assurance to employees, whether linked to their deposits in provident fund or not, without payment by the employees of any separate contribution or premium in that behalf.'.
20. In section 12 of the Employees' Provident Funds Act,—
(a) for the word "Scheme", wherever it occurs, the words "Scheme or the Insurance Scheme" shall be substituted;
Amendment of section
12.
£30 THE GAZETTE OF INDIA EXTRAORDINARY [fART It—
(b) for the words "or provident fund", the words ", provident fund or life assurance" shall be substituted.
30. In section 13, sectiojn 14 and section 14A of the Employees' Provident Funds Act, for the words "the Family Pension Scheme", wherever they occur, the words "the Family Pension Scheme or the Insurance Scheme" shall be substituted.
Amendment of sections 13, 14 and
14A.
31. In section 17 of the Employees' Provident Funds Act,—Amendment of section