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REGISTERED No. D. (D)-72

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 565] NEW DELHI, FRIDAY, DECEMBER 31, 1976/PAUSA 10, 1898

Separate paging is given to this Part in order that it may be filed as a separate compilation

MINISTRY OF LABOUR

NOTIFICATIONS

New Delhi, the 31st December 1976

S.O. 844(E).—In exercise of the powers conferred by Clause (a) of sub-sec- tion (3) of section 17 of the Employees' Provident Funds and Miscellaneous Pro- visions Act, 1952 (19 of 1952) and in continuation of the notification of the Gov- ernment of India, in the Ministry of Labour No. S.O. 758 (E), dated 30th Novem- ber, 1976, 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 any employee or clause of employees exempted under paragraph 27, or as the case may be, paragraph 27A of the Em- ployees' Provident Funds Scheme, 1952, shall transfer the monthly provident fund contributions, in respect of the establishment or, as the case may be, of the em- ployee 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 Provi- dent Fund accumulations in respect of the establishment or as the case may be of the employee, or class of employees 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 denned in Clause Not less than 25 per (2) of Section 2 of the Public Debt Act, cent 1944 (18 of 1944) created and issued by the Central Government.

(2343)

^344 T HE G A Z E T TE ⁰F I N D IA EXTRAORDINARY PAHT II—SEC. 3(U)

(li) Government securities as defined In clause "1 (2) 'of section 2 of the Public Debt Act, I 1944 (18 of 1944) created and issued by I [ any State Government.

(ill) Any other negotiable securities or bonds, V Not less than 25 per the principal whereof and interest where- I cent on Is fully and unconditionally guaranteed by the Central Government or any State Government.

(iv) 7-Year National Savings Certificates (Second Not exceeding 30 per Issue and Third Issue) or Post Office Time cent Deposits.

(v) Special Deposit Scheme Introduced by the

notification of the Government of India Not exceeding 20 per In the Ministry of Finance (Department cent of Economic Affairs) No. F. 16(l)-PI>/75. dated 30th June, J975.

The above pattern will be in force for tht period from the 1st January. 1977 to 31st January, 1S77.

2. All re-investment of provident fund accumulations shall also be made accord- ing to the pattern mentioned in paragraph 1 above.

3. The Board ot Trustees shall formulate proper procedure for prompt invest- ment or re-investment of accumulations in accordance with the aforesaid directions.

[No. G. 27035(5V76-PFI(I)]

2345

S.O. 845(E).—In exercise of the powers conferred by sub-partigraph (1) of para- graph 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 750(E), dated 30th November, 1976, the Central Government hereby directs that all monies belonging to the Fund shall lie invested in accordance with the follow- ing pattern, namely:—

(I) Government securities as denned in clause Not less than 25 per (2) of Section S of the Public Debt Act. cent 1944 (18 of 1944) created and issued by the Central Government.

(ii) Government securities as defined in Clause 1

(2) of Section 2 of the Public Debt Act 1944 (18 of 1944) created and issued'by I j any State Government.

(iii) Any other negotiable securities or bonds, the > Not less than 2B pec principal whereof and interest whereon is | cent fully and unconditionally guaranteed by I the Central Government or any State I ' j Government.

(iv) 7-Year National Savings Certificates (Second Not exceeding 30 per Issue and Third Issue) or Post Office cent Time Deposits.

(v) Special Deposit Scheme introduced by the Not exceeding 20 per notification of the Government of India in cent the Ministry of Finance (Department of Economic Afl'uirs) No. F lR(l)-PD/75 dated 30th June, 1975.

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2346 T HE G A Z E T TE OF INDIA EXTRAORDINARY PART II—SEC 3(1J)

2. All reinvestment of provident fund accumulations shall also be made accord- ing to the pattern of mentioned in paragraph 1 above.

[No. G. 27035(5)/76-PF.I(ii>]

S, S. SAHASRANAMAN. Dy. Secy.

PlUNTbD BY THL GENERAL MANAGER, OOVERNMLNT OF INPU PKLSS, M1NT0 ROAD, NEW DELHI AND PUqi.BWEn BY THE ^ONTROLLBH OF PUBLIC,M IONS, DEt.HI, 1916