Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 11- Employees Provident Fund and Miscellaneous Provisions Act, 1952

Employees Provident Fund and Miscellaneous Provisions Act,1952

 

11. Priority of payment of contributions over other debts 

 

(1) Where any employer is adjudicated insolvent or being a company an order for winding up is made the amount due

 

(a) from the employer in relation to an establishment to which any Scheme or the Insurance Scheme applies in respect of any contribution payable to the Fund or as the case may be the Insurance Fund damages recoverable under section 14B accumulations required to be transferred under sub-section (2) of section 15 or any charges payable by him under any other provision of this Act or of any provision of the Scheme or the Insurance Scheme; or 

 

(b) from the employer in relation to an exempted establishment in respect of any contribution to the provident fund or any insurance fund (in so far as it relates to exempted employees) under the rules of the provident fund or any insurance fund any contribution payable by him towards the Pension Fund under sub-section (6) of section 17 damages recoverable under section 14B or any charges payable by him to the appropriate Government under any provision of this Act under any of the conditions specified under section 17 shall where the liability therefor has accrued before the order of adjudication or winding up is made be deemed to be included among the debts which under section 49 of the Presidency Towns Insolvency Act 1909 or under section 61 of the Provincial Insolvency Act 1920 or under section 530 of the Companies Act 1956 are to be paid in priority to all other debts in the distribution of the property of the insolvent or the assets of the company being wound up as the case may be. 

 

Explanation : In this sub-section and in section 17 insurance fund means any fund established by an employer under any Scheme for providing benefits in the nature of life insurance to employees whether linked to their deposits in provident fund or not without payment by the employees of any separate contribution or premium in that behalf.

 

(2) Without prejudice to the provisions of sub-section (1) if any amount is due from an employer whether in respect of the employee’s contribution (deducted from the wages of the employee) or the employer’s contribution the amount so due shall be deemed to be the first charge on the assets of the establishment and shall notwithstanding anything contained in any other law for the time being in force be paid in priority to all other debts. 

 

 

Previous | Next

 

Employees Provident Fund and Miscellaneous Provisions Act, 1952

 

Indian Laws – Bare Acts

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation