Iron Ore Mines, Manganese Ore Mines and Chrome Ore Mines Labour Welfare Cess Act : INTEREST PAYABLE BY

Iron Ore Mines, Manganese Ore Mines and Chrome Ore Mines Labour Welfare Cess Act,1976

Act No : 55

Section : INTEREST PAYABLE BY OCCUPIERS OF FACTORIES AND OWNERS OF MINES

SECTION 07: INTEREST PAYABLE BY OCCUPIERS OF FACTORIES AND OWNERS OF MINES

- If any occupier of a factory or any owner of an iron ore mine or a manganese ore mine15[or chrome ore mine] fails to pay any amount payable by him to the Central Government under section 4-within the period prescribed thereunder, such occupier or owner, as the case may be, shall be liable to pay simple interest at twelve per cent per annum on the amount to be paid from the date on which such payment is due till such amount is actually paid.