Neyveli Lignite Corporation Limited (Acquisition and Transfer of Power Transmission System) Act :

Neyveli Lignite Corporation Limited (Acquisition and Transfer of Power Transmission System) Act,1994

Act No : 56

Section : Provident fund and other funds.

11. Provident fund and other funds. (1) Where the company has established a provident fund or any other fund for the benefit of the persons employed by it, the monies relatable to the associated personnel who have already become employees of the Corporation or whose services have become transferred under this Act to the Corporation shall, out of the monies standing, on the date of transfer of the associated personnel, to the credit of such provident fund or other fund, stand transferred to, and vest in, the Corporation. (2) The monies which stand transferred under sub-section (1) to the Corporation shall be dealt with by the Corporation in such manner as may be prescribed.