Amendment status not verified — confirm the current text below against the official source.
CONTRIBUTION: (1) Every employer shall pay every month into the Gratuity Fund in respect of every employee in relation to whom he is the employer, such amount not excee ding five percent of the wage as the State Government may by notification in the Official Gazette specify. 700 THE ASSAM GAZETTE. EXTRAORDINARY. JU LY 1 1993 (2) Every employer shall also pay into the Gratuity Fuad contributions at the rate of 60.36 per cent of the wages received by the employees during the preceding 12 months at the commencement of the Act to cover up past Gratuity liabilities. PROVIDED that the Controlling Authority may grant instalment to liquidate the past liabilities in such manner and on such conditions and at such rate of interest as may be provided in the Scheme. (3) Every employer shall further be liable to pay to the Gratuity Fund the amount due to any employee during the pendency of full liquidation of the past liabilities on termination of service. The amount so paid shall be adjusted against the past Labilities as mentioned under sub-section 2 of this Section.