REGISTERED No. D-(D)-72
The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 512] NEW DELHI, TUESDAY, NOVEMBER 30, 1976/AGRAHAYANA 9, 1898
Separate paging is given to this Part in order thai it may be filed
as a separate compilation
MINISTRY OF LABOUR
NOTIFICATIONS
New Delhi, the 30th November 1976
S.O.758(E).—In exercise of the powers conferred by Clause (a) of sub-section (3) of sec- tion 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. 574 (E), dated 30-8-1976 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 section 17 of the said Act or in relation to any employee or 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, in respect of the establishment 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 accumulations in respect of the esta- blishment or, as the case may be, of the employee, or class of employees that is to say, the contri- bution1!, 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.
(2141)
2142 TaE GAZETTE OF INDIA EXTRAORDINARY PAHT II—SEC. 3(11)(ii) Gwcnmcnt 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 any State Government.
(iii) Any other negotiable securities or bonds, the piincipal whereof Not less thar 23% u-'d interest w'tereon is fully and unconditionally guaranteed by the Central Government or any State Government.
(iv) 7-YearNationaISavingsC"rtificates(Second Issue and Third Not ewecdipg 3&% Tssus) or P^st Offloe Tirr" Deposits.
(v) Special Deposit Scheme introduced by the notificption of the Not exceeding 20% Government of India in the Ministry of Finance (Department of Economic Affairs) No. F. 16 (i)-PD/75 dated 30-6-1975.
The above pattern will be in force for the period from the 1st December, T976 to 31st Decem- ber, 1976.
2, All re-invcstment of provident fund accumulations shall also be made according to the pattern mentioned in paragraph, j, above.
3. The B iard of Trustees shall formulate proper procedure for prompt investment or re- investment of accumulations in accordance witn the aforesaid directions.
[No. G. 27035 (j)/7
2143
S. O. 759 (B^:—'In exetcise of the powers conferred 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. 575 (E) dated 30-8-1976 the Central Government hereby directs that all monies belonging to the Fund shall be invested in accor- dance with the following pattern, namely :—
(i) Government securtics as defined in Clause (2) of Section 2 of Not less than 25% the Pufoiic Debt Act, 1944 (18 of 1944) created and issued by the Central Government.
(ii) Government securties as defined in Clause (2) of Section 2 of Net Kss than 25% this Public, Debt Act, 1944 (18 of 1944) created andissued by any State Government.
(iii) Any other negotiable securities or bonds, the principal whereof Not less than 33% nnd 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 Net excecdirj; : c% Government of India in the Ministry of Finance (Department of Economic Affairs) No. F. 16 (i)-PD/75 dfltcd 30-6-1975.
The above pattern will be in force for the period from the 1st December, 1976 to 31st Decem- ber, 1976-
2. All re-investment of provident fund accumulations shall also be made accoidirg to the pattern mentioned in paragraph 1 above.
[No. G. 27035 (5)/76-PFIfU)]
R. S. DESHPANDE Dy. Secy.
2144 T HE G A Z E T TE 0F I N D IA EXTRAORDINARY PART II—SEC. 3(ii)