(1) The State Government shall constitute a Fund called the Labour Welfare Fund and, notwithstanding anything contained in any other law for the time being in force or in any contract or instrument, all unpaid accumulations shall be paid to the Board which shall keep a separate account therefore until claims thereto have been decided in the manner provided in section 9, and the other sums specified in sub-section (2) shall be paid into the Fund.
(2) The Fund shall consist of-
(a) all fines realised from the employees;
(b) unpaid accumulations transferred to the Fund under section 9;
(c) grants and subsidies to the Board made by the State Government;
(d) any voluntary donations;
(e) any fund transferred under sub-section (5) of section 10; 1[***]
(f) any sum borrowed under section 11; 2[and
(g) contribution of employers and employees]
(3) The sums specified in sub-section (2) shall be collected by such agencies and in such manner and the accounts of the Fund shall be maintained and audited in such manner as may be prescribed.
4. 3[(1) For the purpose of administering the Fund and for performing such other functions as are assigned to it by or under this Act, the State Government shall by notification establish a Board to be known as "the Punjab Labour Welfare Board for Punjab and Haryana or the territory of Chandigarh" as the case may be.]
(2) The Board shall be a body corporate with the name aforesaid, having perpetual succession and a common seal with power, subject to the provisions of 1 Omitted the word 'and' by Punjab Act no.18 of 2006,section 2 2 Substituted and Inserted by Punjab Act no.18 of 2006 ,section 2 3 Substituted by Government of India ,S.O. No.1301 ,dated 28th March ,1969 Welfare Fund Establishment of Board.
this Act, to acquire, hold or dispose of property, and to contract, and may by that name sue or be sued.
(3) The Board shall consist of the following members, including the Chairman, to be nominated by the State Government, namely:
(a) such equal number of representatives of employers and employees as may be prescribed; and
(b) such number of independent members, whether official, non- official or both, as may be prescribed.
(4) No person shall be nominated as a member of the Board who-
(a) is a salaried official of the Board; or
(b) has been adjudged as an insolvent; or
(c) is of unsound mind and stands so declared by a competent court or is, in the opinion of the State Government, physically or mentally unfit to be appointed as a member; or
(d) has been convicted of an offence which, in the opinion of the State Government, involves moral turpitude.
5. The State Government may remove from office the Chairman or any member of the Board who-
(a) absents himself from three consecutive meetings of the Board without permission of the Chairman of the Board in the case of a member and of the State Government in the case of the Chairman;
(b) is or has become subject to any of the disqualifications mentioned in sub-section (4) of section 4; or
(c) so abuses his position as to render his continuance in office detrimental to the public interest.
6. No act done, or proceeding taken, under this Act by the Board shall be invalid Vacancies, etc., not to invalidate proceedings of Board.
Power of State Government to remove members from office in certain cases.
merely on the ground-
(a) of any vacancy or defect in the constitution of the Board; or
(b) of any defect or irregularity in the nomination of a person acting as a member thereof; or
(c) of any defect or irregularity in such act or proceeding, not affecting the merits of the case.