Subject NOT available

click here for IIIF manifest

REGISTERED No. D.(D)-72

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 45] NEW DELHI, MONDAY, JANUARY 31,1977/MAGHA11,1898

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

MINISTRY OF LABOUR

NOTIFICATIONS

Nero Delhi,the31stJanuary 1977

S.O. 55(E).—In exercise of the powers conferred by Clause (a)of sub-section (b) of section 17 of the Employees, Provided Fund and Miscellanous 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. 844(E) dated 31-I2-1976 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, shall 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 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 :—

(1) Government securities as defined in Clause {2) Not less than 25] of Section 2 of the Public Debt Act, 1944 (18 of 1944) created and issued by the Central Govern- ment.

(131)

(") Government securities as defined m 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%

On) Any other negotiable securities °r bonds, the principal where of and interest whereon is fully and unconditionally guaranteed by the Central Government or and State Government.

Not exceeding 30%.

(iv) 7-year National Savings Certificates (Second Issue and Third Issue) or Post Office Time Deposits,

Not exceeding 20%.

(v) SpedalDepositSchemeintroduced by the notifica- tion of the Government of India in the Ministry of Finance (Department of Economic Affairs) No. F- I 6 ( I ) - P D / 75 dated 3°-fi-i975

2. The above pattern will be irt force from the ist February to 31st March, 1977. Reinvestment of Post Office Time Deposits maturing durirg this period shall be made 50% in Post Office Time Deposit"! and 50%in Special Deposits. Subject to this, reinvestmcrt of all other maturities of Provident Fund accumulations shall continue to be msdci¹¹ accordance with the pattern mentioned in paragraph 1 above.

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

[No. G. 27O35(5)/76-PFI"]

*33

S.O. 56(E).—In cxercifie ofthe powers conferred by sub-paragraph (i) of Paragraph "

of the Employe s' Provident Funds Schema I952andin conriruition of the notification nf th Government of Indiain the Ministry of Labour No. S.O. 845(E)dated 31-12-1976 the Cent™? Government hereby directs Lhatall mi ins belonging to the Fund shall be Invested in n™M ance with the following pattern, namely :—

^ ™"

Not less than 25% CO Governm:nt securities as defined in clause (2) of Secnon 2 of the Public Debt Act, 19.44 (18 of 1944) created and issued by the Central Govern- ment.

Cii) Government securities as defined in Clause (2) of 1 Section 2 of the Public Dtbt Act, 1944 (18 of 1 I944)creatcd and lssUedbyanyStatcGovornmcnt. 1

(m)

J-Not less than 25%

1

Any other negotiable securities or bonds, the principal whereof and interest whereon is fully j and unconditionally guarrnteed by the Central Government or any State Government. 1

j F

(iv)

Not exceeding 30%

(v)

Not exceeding 20%. 7-Year Nitional Savings Certificates (Second Iisuc and Third Issue) or Post Office Time Deposits. Special Deposit Schema introduced by the notification of the G.w?rnmont of India in the M nistry of Finance (Department of Economic Affurs) No. F. I 6 ( I ) - P D / 75 dated the 30th June, 1975-

2. Tia ibiv- pitt-ri ,yilbc in force from the 1st February, to *Tfit fJtar~h

in Post Office Tim- D=p:>sits and 50 %Jn Special Deposits. Subject to this, reinvestment of all other muurmes of Provident Fund accumulations shall continue to be made in accordance with the pattern mentioned in paragraph 1 above.

[No. G-27035/5/76-PF.Kii)]

S. S. SAHASRANAMAN, Dy. Secy.

PRINTED BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS, MtNTO 1OAD NEW DELHI AND PUBLISHED SY THE CONTROLLEK 07 POBUCATIONl, DELHI, 1 9 77 '