Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act : PROVIDENT FUND AND OTHER

Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act,1982

Act No : 71

Section : PROVIDENT FUND AND OTHER FUNDS

SECTION 14: PROVIDENT FUND AND OTHER FUNDS
- (1) Where the Company has established a provident fund, superannuation, welfare or other fund for the benefit of the persons employed in any of its undertakings, the moneys 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 moneys standing, on the appointed day, to the credit of such provident fund, superannuation, welfare or other fund, stand transferred to, and vest, in the Central Government or the Government company, as the case may be.
(2) The moneys 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 Government company in such manner as may be prescribed.