Maruti Limited (Acquisition and Transfer of Undertakings) Act,1980

Act No : 64

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Section : PROVIDENT FUND AND OTHER FUNDS

SECTION 14: PROVIDENT FUND AND OTHER FUNDS

(1) Where the Company has established a provident fund, superannuation fund; welfare fund of any other fund for the benefit of the persons employed in any of the undertakings of the [Vol. 33] 5 A.M. 52 Company, the monies relatable to the officers or other employees, whose services have become transferred, by or under this Act, to the Central Government or the Government company, shall out of the monies standing on the appointed day, to the credit of such provident fund superannuation fund, welfare fund or other fund, stand transferred to, and vest in, the Central Government or the Government company, as the case may be.

(2) The monies which stand transferred under sub-section (1) to the Central Government or the Government Company as the case may be, shall be dealt with by that Government or that Government Company in such manner as may be prescribed.

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