Amendment status not verified — confirm the current text below against the official source.
Ins. by s. 4, ibid. (w.e.f. 25-9-1975). 5 (9) “company” means any company as defined is section 3 of the Companies Act, 1956 (1 of 1956), and includes a foreign company within the meaning of section 591 of that Act; (10) “co-operative society” means a society registered or deemed to be registered under the Co-operative Societies Act, 1912 (2 of 1912), or any other law for the time being in force in any State relating to co-operating societies; (11) “corporation” means any body corporate established by or under any Central, Provincial or State Act but does not include a company or a co-operative society; (12) “direct tax” means— (a) any lax chargeable under— (i) the Income-tax Act; (ii) the Super Profits Tax Act, 1963 (14 of 1963); (iii) the Companies (Profits) Surtax Act, 1964 (7 of 1964); (iv) the agricultural income-tax law; and (b) any other tax which, having regard to its nature or incidence, may be declared by the Central Government, by notification in the Official Gazette, to be a direct tax for the purposes of this Act; (13) “employee” means any person (other than an apprentice) employed on a salary or wage not exceeding 1[twenty-one thousand rupees] per mensem in any industry to do any skilled or unskilled manual, supervisory, managerial, administrative, technical or clerical work for hire or reward, whether the terms of employment be express or implied; (14) “employer” includes— (i) in relation to an establishment which is a factory, the owner or occupier of the factory, including the agent of such owner or occupier, the legal representative of a deceased owner or occupier and where a person has been named as a manager of the factory under clause (f) of sub-section (1) of section 7 of the Factories Act, 1948 (63 of 1948), the person so named; and (ii) in relation to any other establishment, the person who, or the authority which, has the ultimate control over the affairs of the establishment and where the said affairs are entrusted to a manager, managing director or managing agent, such manager, managing director or managing agent; (15) “establishment in private sector” means any establishment other than an establishment in public sector; (16) “establishment in public sector” means an establishment owned, controlled or managed by— (a) a Government company as defined in section 617 of the Companies Act, 1956 (1 of 1956); (b) a corporation in which not less than forty per cent. of its capital is held (whether singly or taken together) by— (i) the Government; or (ii) the Reserve Bank of India; or (iii) a corporation owned by the Government or the Reserve Bank of India; (17) “factory” shall have the same meaning as in clause (m) of section 2 of the Factories Act, 1948 (63 of 1948);