Coal Mines Provident Fund and Miscellaneous Provisions Act : Coal Mines Family Pension Scheme. Indian

Coal Mines Provident Fund and Miscellaneous Provisions Act,1948

Act No : 46

Section : Coal Mines Family Pension Scheme.

1*[3E. Coal Mines Family Pension Scheme.- (1) The Central Government may, by notification in the Official Gazette, frame a scheme to be called the Coal Mines Family Pension Scheme for the purpose of providing family pension and life assurance benefits to such employees as are covered by the Coal Mines Provident Fund Scheme. (2) There shall be established, as soon as may be after the framing of the aforesaid Scheme, a Family Pension Fund into which shall be paid from time to time in respect of every such employee-- (a) such portion, not exceeding one-fourth, of the amount payable under sub-section (1) of section 10D as the employer's contribution as well as the employee's contribution, as may be specified in the said Scheme, and (b) such sums, being not less than the aggregate of the amount payable in pursuance of clause (a) out of the employeer's contribution under sub-section (1) of section 10D and an amount equivalent to one-sixteenth of the employer's contribution under --------------------------------------------------------------------- 1. Ins. by Act 16 of 1971, s. 8 (w.e.f. 13-1-1971). 280C that sub-section in respect of such employee, as the Central Government may, after due appropriation made by Parliament by law in this behalf, specify. (3) The Family Pension Fund shall vest in and be administered by the Board. (4) Any scheme framed under the provisions of sub-section (1) may provide for all or any of the matters specified in the Second Schedule.