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Home > Bare Acts > Corporate Law > Additional Emoluments (Compulsory Deposit) Act,1974 > Additional Wages Deposit Account and Additional Dearness AllowanceDeposit Account.



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Additional Emoluments (Compulsory Deposit) Act,1974

Act No : 37

 

Section : Additional Wages Deposit Account and Additional Dearness AllowanceDeposit Account.

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5. Additional Wages Deposit Account and Additional Dearness Allowance Deposit Account. (1) There shall be opened by such authorities as may be specified in the scheme two separate accounts, to be known, respectively, as the Additional Wages Deposit Account and the Additional Dearness Allowance Deposit Account, and different authorities may be specified for different establishments or different categories of employees or establishments. (2) The specified authority shall, in relation to each Deposit Account, open a separate ledger account in the name of each employee in relation to whom any contribution is made to the said Account, and credit the contributions so made in the said ledger account.



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