The Gazette of India
EXTRAORDINARY
PART II—Section 3 - Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 565] NEW DELHI, MONDAY, DECEMBER 15, 1980/AGRAHAYANA 24, 1902
Separate paging is given to this part in order that it may be filed as a separate compilation
1890 THE GAZETTE OF INDIA ; EXTRAORDINARY [PART IT—SEC. 3(ii)] MINISTRY OF LABOUR NOTIFICATIONS New Delhi, the 15th, December, 1980S.O. %8(E) .—In exercise of the powers conferred by clause (a) of sub-section (3) of section 17 of the Employees' provident Fund and Miscellaneous Provisions ML 1952 (19 of 1952), and in supersession of the notificatiori-'or the Government of India in the Ministry of Labour No. S.G.V?12(E) dated the 21st December, 1978, the Central Government hereby directs that every employer in relation td an establishment exempted under clause (a) or clause (b) of sub-section (1) of section 17 of the said Act or in i-elation to any employee or class of employees exempted under paragraph 27, or paragraph. 27A as the case may be, of tho Employees' Provident Fund Scheme, 1952, shall transfer the monthly provident fund contribution* in respect of the establish- ment or, as the case may be, of trie employee or class of the employees within fifteen days of the close of the month to the Board of Trustees, duly constituted in respect of that establish- ment, 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 contributioas, interest and other receipts as reduced by any obligatory outgoings, in accordance w'tli the following pattern, namely:—
(i) Government Securities as defined in clause (2) of section 2 of the Public Debt Act, 1944 (18 of 1944) created and issued by the Central Government, except treasury bills.
(ii) Government securities as defined in
clause (2) of section 2 of tho Pub]ieDebtAct,1944(18ofl944) M n. , . , „, created and iMued by any State hN ot l c ss &aa 1 5% Government
(iii) Any other negotiable securities or bonds, the principal whereof and interest whereon is fully and unconditionally guaranteed by tho Central Government or any state Govt.
(iv) 7-Year National Savings Certi- Not oxceedintr 40°/ ficates (Second Issue and Third Issue) or Post Office Time Deposits.
(v) Special Deposit Scheme introduced Not exceeding 30°/ by the notification of the Govern- ment of India in the Ministry of Finance (Department of Economic Affairs) No. F. 16(1 )PD/7S dated the 30th June, 1975.
2. Tho above pattern will be in force from the 1st January 1981, until further orders. Reinvestment of Post Office Time Deposits maturing during this neriod shall be mado 50°/ in Post Office Time Deposits and 50%in Special Deposits Subject to this reinvestment of all other maturities of Provident Fund accumulations shall continue to be made in accordance with 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(10)/80-PF.I(i). S.O. 969
(i) Government securities as defined 1
in clause (2) of section 2 of the . , Public Debt Act. 1944 (18 of 1944) created and issued by the Central Government, except treasury bills.
(ii) Government securities as defined
in clause (2) < f section 2 of the Public Debt Act, 1944 (18 of 1944) I N t , ^ „„ created and issued by any State [ ^ uma 15/° Government
(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 Certifi- Not exceeding 40% catcs (Second Issue and Third Issue) or Post Office Time Deposits.
(v) Special Deposit Scheme introduced Not exceeding 30% by the notification of the Govern- ment of India in the Ministry of Finance (Department of Economic Affairs) No. F. 16 (l>PD/75 dated the 30th June, 1975.
2. The above pattern will be in force from the 1st January, 1981 until further orders,. Reinvestment of Post Office Time Deposits maturing during this period shall be made 50% in Post Office Time Deposits and 50% in Special Deposits. Subject to this, reinvestment of all other maturities of Provident Fund accumulations shall continue to be made in accordance with the pattern mentioned in paragraph 1 above.