Jute Companies (Nationalisation) Act,1980

Act No : 62

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Section : PROVIDENT FUND AND OTHER FUNDS

SECTION 13: PROVIDENT FUND AND OTHER FUNDS.

(1) Where a jute Company has established a provident fund, superannuation fund, welfare fund or other funds for the benefit of persons employed in any of the undertakings owned by it them ones relatable to its employees whose Services have become transferred by or under this Act to the Central Government or the Jute Manufactures Corporation, shall, out of them ones Standing, on the appointed day, to the credit of such provident fund superannuation fund, welfare fund or other funds, stand transfer, to, and vest in the Central Government or the Jute Manufactures Corporation's the case may be.

(2) The monies which stand transferred under sub-section (1) to the Central Government or the Jute Manufactures Corporation's the case may be, shall be dealt with by that Government or Corporation in such manners may be prescribed.

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