(1) The amount referred to in sub-rule (1) of rule 35 (hereinafter in this rule referred to as ―the amount‖) deposited with Assistant Commissioner of Labour having jurisdiction shall remain with him and be invested in the Central or State Government Securities or deposited as a fixed deposit in a Nationalised Bank.
(2) Authority appointed by the State Government will exhibit, as soon as maybe possible, a notice containing such particulars regarding the amount as he considers sufficient for information at least for fifteen days on the notice board and also publish 22 such notice in official website or in Official Gazettes of State Government as well as publish in any two local newspapers of vernacular language commonly understood in the area in which undisbursed wages were earned.
(3) Subject to the provision of sub-rule (4), the Assistant Commissioner of Labour having jurisdiction shall release the amount to the nominee or to that person who has claimed such amount, as the case may be, in whose favour such Assistant Commissioner of Labour having jurisdiction has decided, after giving the opportunity of being heard, the amount to be paid.
(4) If the undisbursed amount remains unclaimed for a period of seven year after publication, the amount shall be transferred to the Maharashtra Labour Welfare Board for promoting the welfare of labour. If any claim arises within the seven years from the date of such deposit notwithstanding anything contained in sub-rule (3), Assistant Commissioner of Labour having jurisdiction may decide and direct the Board to disburse the amount to the claimant.
CHAPTER VI FORMS, REGISTERS AND WAGE SLIP