(1) Where the proprietors have established a provident fund, superannuation fund, welfare fund or any other fund for the benefit of the persons employed in the undertaking, the monies relatable to the officers or other employees, whose services have been continued on appointment to the Corporation shall, out of the monies standing on the appointed day to the credit of such provident fund, superannuation fund, welfare fund or other fund, stand transferred to and vested in, the Corporation.
(2) The monies which stand transferred under sub-section (1) to the Corporation shall be dealt with by the Corporation in such manner as may be prescribed.
10 Central India Spinning, Weaving and Manufacturing [1986 : Mah. XLVI Company Limited, The Empress Mills, Nagpur (Acquisition and Transfer of Undertaking) Act, 1986.
14 of
1947.
IV of
1936.
39 of
1972.
14 of
1947.
Provident fund and other funds.
1986 : Mah. XLVI] Central India Spinning, Weaving and Manufacturing 11 Company Limited, The Empress Mills, Nagpur (Acquisition and Transfer of Undertaking) Act, 1986.
CHAPTER VI COMMISSIONER OF PAYMENTS