coal mines provident fund and miscellaneous act, 1948
A K Singh
(Querist) 23 August 2018
This query is : Open
I have some query regarding interpretation of some clause of above Act please help in interpretation of same.
Section 2(h) of above act is is as follow: -
2 (h) “Pension Fund” means the Pension Fund established under sub-- section (2) of section 3-E.
sub-- section (2) of section 3-E. of above act is as follow : -
3-E (2) Notwithstanding anything contained in section 3, there shall be established, as soon as may be after framing of the Pension Scheme, a Pension Fund into which there shall be paid, from time to time, in respect of every employee who is a member of the Pension Scheme,-—
(a) such sums, not exceeding one-fourth, of the amount payable to the Fund under sub-section (1) of section 10-D as the employer’s contribution as well as the employee’s contribution, as may be specified in the Pension Scheme;
(b) such sums as the Central Government may, after due appropriation made by Parliament by law in this behalf, specify;
(c) the net assets of the Family Pension Fund as existed immediately before the establishment of the Pension Fund; and
(d) any other contribution which may be made to the Pension Fund with the previous approval of the Central Government.
sub-section (1) of section 10-D is as follow : -
10-D. Payment of contribution by employers and recovery thereof from members .—
(1) The contribution shall be payable by the employer (hereinafter referred to as the employer’s contribution) and by the employee (hereinafter referred to as the employee’s contribution) at such rate as may be specified in the Coal Mines Provident Fund Scheme, and the employer shall pay the employer’s contribution as well as the employee’s contribution, whether or not he has recovered from any employee the employee’s share of the contribution.
if contribution rate is 12% by employee and 12% by employer in Coal Mines provident Fund Scheme i.e. 24%.
how much maximum contribution can be made in pension fund as per section 3 E (2).
whether it will be total 6% i.e. 3% by employee and 3% by employer ?
or total it can be 12% i.e. 6% by employee and 6% by employer ?
or whether it can be more than 12 % as per section 3E (2) ?
Thanks in advance for your kind help.
