Amendment status not verified — confirm the current text below against the official source.
Act not to apply to certain classes of employees.—Nothing in this Act shall apply to— (i) 2[employees employed by any insurer carrying on general insurance business and the] employees employed by the Life Insurance Corporation of India; (ii) seamen as defined in clause (42) of section 3 of the Merchant Shipping Act, 1958 (44 of 1958); (iii) employees registered or listed under any scheme made under the Dock Workers (Regulation of Employment) Act, 1948 (9 of 1948), and employed by registered or listed employers; (iv) employees employed by an establishment engaged in any industry carried on by or under the authority of any department of the Central Government or a State Government or a local authority; (v) employees employed by— (a) the Indian Red Cross Society or any other institution of a like nature (including its branches); (b) universities and other educational institutions; (c) institutions (including hospitals, chambers of commerce and social welfare institutions) established not for purposes of profit; 3* * * * *; 4* * * * *; (viii) employees employed by the Reserve Bank of India; (ix) employees employed by— (a) the Industrial Finance Corporation of India; (b) any Financial Corporation established under section 3, or any Joint Financial Corporation established under section 3A, of the State Financial Corporations Act, 1951 (63 of 1951); (c) the Deposit Insurance Corporation; 5[(d) the National Bank for Agriculture and Rural Development;] (e) the Unit Trust of India; (f) the Industrial Development Bank of India; 6[(fa) the Small Industries Development Bank of India established under section 3 of the Small Industries Development Bank of India Act, 1989 (39 of 1989);] 7[(ff) the National Housing Bank;]