Amendment status not verified — confirm the current text below against the official source.
Interest payable by the employer.—The employer shall be liable to pay simple interest at the rate of twelve per cent. per annum or at such higher rate as may be specified in the Scheme on any amount due from him under this Act from the date on which the amount has become so due till the date of its actual payment: Provided that higher rate of interest specified in the Scheme shall not exceed the lending rate of interest charged by any scheduled bank.] 1[8. Mode of recovery of moneys due from employers.—Any amount due— (a) from the employer in relation to 2[an establishment] to which any 3[Scheme or the Insurance Scheme] applies in respect of any contribution payable to 4[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 5[or under sub-section (5) of section 17] or any charges payable by him under any other provision of this Act or of any provision of the 3[Scheme or the Insurance Scheme]; or (b) from the employer in relation to an exempted 6[establishment] in respect of any damages recoverable under section 14B or any charges payable by him to the appropriate Government under any provision of this Act or under any of the conditions specified 7[under section 17 or in respect of the contribution payable by him towards the 8[Pension] Scheme under the said section 17], may,if the amount is in arrear, 9[be recovered 10[in the manner specified in sections 8B to 8G].] 11[8A. Recovery of moneys by employers and contractors.—(1) 12[The amount of contribution (that is to say the employer‟s contribution as well as the employee‟s contribution in pursuance of any Scheme and the employer‟s contribution in pursuance of the Insurance Scheme)], and any charges 13*** for meeting the cost of administering the Fund paid or payable by an employer in respect of an employee employed by or through a contractor may be recovered by such employer from the contractor, either by