REGISTERED No. D. 221
The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No 349] NEW DELHI, TUESDAY, JULY 25, 1972/SRAVANA 3, 1894
Separate paging is given to this Part in order that it may be filed
as a separate compilation
MINISTRY OF LABOUR AND REHABILITATION
(Department of Labour & Employment)
NOTIFICATION
New Delhi, the 25th July 1972
S.O. 504(E).—In exercise of the powers conferred by clause (a) of sub-section (3) of section 17 of the Employees' Provident Funds and Family Pension Fund Act, 1952 (19 of 1952), and in supersession of the notification of the Govern- ment of India in the Ministry of Labour and Rehabilitation (Department of Labour and Employment) No. G. 27035(4)/72-PF.I/I, dated the 19th July, 1972, the Central Government hereby directs that every employer in relation to an establishment exempted under clause (a) or clause (b) of sub-section (1) of section 17 of the said Act or in relation to an employee or a class of employees exempted under paragraph 27, or as the case may be, paragraph 27A of the Employees' Provident Funds Scheme, 1952. shall transfer the monthly provident fund contributions within fifteen days of the close of the month to the Board of Trustees, duly constituted in respect of that establishment, and that the said Board of Trustees shall invest every month, within a period of two weeks from the date of receipt of the Paid amounts from the employer, the provident fund accumulations, that is to say, the contributions, interest and sundry receipts as
(1437
143 8 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—reduced by any obligatory outgoings, in accordance with the following pattern, namely:—
From 1st July, 1972 to 30th September, 1972
(i) Central Government securities
45 per cent.
(ii) State Government securities and State or Central
Government guaranteed securities 25 p"r cent. (iii' Post Office Time Deposits and Small Savings1 30 per cent.
From 1st October, 1972 to 31st March, 1973
(i) Stute Government securities and State or Central
(ii) Post Office Time Deposits
Government guaranteed securities 25 per cent. 73 per cent.
Provided that any shortfall in investment in the State Government securities and State or Central Government guaranteed securities, durinc the period from 1st April, 1972 to 30th June 1972, shall be made up during the period from 1st July, 1972 to 31st March, 1973, so that the overall investment in these securities during 1972-73 should be 25 per cent.
2. All re-investment of provident fund accumulations (whether invested in securities created and issued by the Central Government or in savings certi- ficates issued by the Central Government or in securities created and issued by a State Government) shall also be made according to the pattern mentioned in paragraph 1 above.
3. The Board of Trustees shall formulate prop"r procedure for prompt invest- ment or reinvestment of accumulations in accordance with the aforesaid directions and shall have it approved by the Regional Provident Fund Commissioner concerned.
4. This notification shall be deemed to have come into force with effect from the 1st J"ly, 1972.
[No. G. 27035/4/72-PF.I/I.l
D. S. NIM, Jt. Secy.
SEC. 3(ii)] THE GAZETTE OP TNDIA EXTRAORDINARY 1439 1440 THE GAZETTE OF INDIA EXTRAORDINARY [PART M—SEC. 3(ii)J