REGISTERED No. D-(D)-72
The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section
PUBLISHED BY AUTHORITY
No. 387] NEW DELHI, MONDAY, AUGUST 30, 1976/BHADRA 8, 1898
Separate paging is given to this Part In order that ft may be filed
as a separate compilation
MINISTRY OF LABOUR
NOTIFICATIONS
Net Delhi, the 30th August 1976
S. O. 574(E).—In exercise of the powers conferred by Clause (a) of sub-section (3) of section 17 of the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), and in continuation of the notification of the Government of India, in the Ministry of Labour No. S.O- 443(E) dated 30-6-1976 the Central Government hereby directs that every employer in relation to an establishment exempted under clause (a) or clause (b) of sub-section (i)of action 17 of the Said Act or in relation to any employee or clause of employes 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 cortributions, in respect of the estab- lishment or as the case may be, of the employee or class of employees 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 said contributions from the employer, the Provident Fund accumula- tions in respect of the establishment or as the case may be, of the employee, or class of employees
(1755)
1756 THE GAZETTE OF INDIA EXTRAORDINARY PART II—SEC. 3(ii)that is to say, the contributions, interest and other receipts as reduced by any obligatory outgoings in accordance with the following pattern namely :—
(i) Government securities as defined in Clause (2) of Section 2 of Not less than 25% the Public Debt Act, 1944 (18 of 1944) created and issued by the Central Government
(ii) Government securities as defined in clause (2) of Section 2 of the Public Debt Act, 1944 (18 of 1944) created and issued by any State Government.
Not less than 25% (iii) Any other negotiable securities or bonds, the principal whereof and interest whereon is fully and unconditionally guaranteed by the Central Government or any State Government.
(iv) 7-Year National Savings Certificates (Second Issue and Third Not exceeding 30% Issue) or Post Office Time Deposits.
(v) Special Deposit Scheme introduced by the notification of the Not exceeding 20% Government of India in the Ministry of Finance (Department of Economic Affairs) No. F . I 6 ( I ) - P D / 75 dated 30-6-1975.
The above pattern will be in force for the period from the 1st September, 1976 to 30th No- vember, 1976.
2. All re-investment of provident fund accumulations shall also be made according to the pattern mentioned in paragraph 1 above.
3, The Board of Trustees shall formulate proper procedure for prompt investment or re- investment of accumulations in accordance with the aforesaid directions.
[No. G.27035(5)/76-PFI(i)]
mi
S.O. 575(K).—In exercise of the powers cinfcrred by sub-paragraph (i) of paragraph 52 of the Employees* Provident Funds Scheme, 1952 and in Continuation of the notification of the Government of India, in the Ministry of Labour No. S.O. 444(E) dated 30-6-1976 the Conttal Government hereby directs that all monies belonging to the Fund shall bo invested in accordance With the following pattern, namely :—
(1) Government securities as defined in Clause (2) of Section 2 Not less than 25% of the Public Debt Act, 1944 (18 of 1944) created and issued by the Central Government.
(ii) Government securities as defined in Clause (2) of Section 2 1 of the Public Debt Act, 1944 (18 of 1944) created and issued by I
any State Government.
>Not less than 25% (iii) Any other negotiable securities or bonds, the principal where- I of and interest whereon is fully and unconditionally guaran- | teed by the Central Government or any State Government. J
(iv) 7-Ycar National Savings Certmcites (Second Issue and Not exceeding 30% Third Issue) or Post Office Time Deposits.
(v) Special Deposit Scheme introduced by the notification of the Not exceeding 20% Government of India in the Ministry of Finance (Depart- ment of Economic Affairs) No. F. i6(iVPD/7j dated 30-6-1975.
The above pattern will be in force for the period from the 1st September, 1976 the 3O1T November, 1976-
2. All re-investment of provident fund accumulations shall also be made according to th" pattern mentioned in paragraph 1 above.
[No. G.27O35(5)/76-PFI(ii) 1
(S. S. SAHASRANAMAN) Dy. S'cy.
I-758 THE GAZETTE OF INDIA EXTRAORDINARY PART II—SEC. 301)