Amendment status not verified — confirm the current text below against the official source.
Subs. by Act 33 of 1988, s. 23, for “(IA)” (w.e.f. 1-10-1985). 30 1[(c) in the case of an exemption granted under sub-section (2A), with any of the conditions imposed under that sub-section or with any of the provisions of sub-section (3A); (d) in the case of an exemption granted under sub-section (2B), with any of the provisions of sub-section (3A).] 2[(5) Where any exemption granted under sub-section (1), sub-section 3[(IC)] 4[, sub-section (2), sub-section (2A) or sub-section (2B)] is cancelled, the amount of accumulations to the credit of every employee to whom such exemption applied, in the provident fund 4[the 5[pension] fund or the insurance fund] of the establishment in which he is employed 6[together with any amount forfeited from the employer‟s share of contribution to the credit of the employee who leaves the employment before the completion of the full period of service] shall be transferred within such time and in such manner as may be specified in the Scheme or the 5[Pension] Scheme 4[or the Insurance Scheme] to the credit of his account in the Fund or the 5[Pension] Fund 4[or the Insurance Fund], as the case may be. (6) Subject to the provisions of sub-section 3[(IC)] the employer of an exempted establishment or of an exempted employee of an establishment to which the provisions of the 5[Pension] Scheme apply, shall, notwithstanding any exemption granted under sub-section (1) or sub-section (2), pay to the 5[Pension] Fund such portion of the employer‟s contribution 7*** to its provident fund within such time and in such manner as may be specified in the 5[Pension] Scheme.]]] 8[17A. Transfer of accounts.—(1) Where an employee employed in an establishment to which this Act applies leaves his employment and obtains re-employment in another establishment to which this Act does not apply, the amount of accumulations to the credit of such employee in the Fund, or as the case may be, in the provident fund of the establishment left by him shall be transferred, within such time as may be specified by the Central Government in this behalf, to the credit of his account in the provident fund of the establishment in which he is re-employed, if the employee so desires and the rules in relation to that provident fund permit such transfer. (2) Where an employee employed in an establishment to which this Act does not apply leaves his employment and obtains re-employment in another establishment to which this Act applies, the amount of accumulations to the credit of such employee in the provident fund of the establishment left by him may, if the employee so desires and the rules in relation to such provident fund permit, be transferred to the credit of his account in the Fund or as the case may be, in the provident fund of the establishment in which he is re-employed.] 9[17AA. Act to have effect notwithstanding anything contained in Act 31 of 1956.—The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in the Life Insurance Corporation Act, 1956.] 10[17B. Liability in case of transfer of establishment.—Where an employer, in relation to an establishment, transfers that establishment in whole or in part, by sale, gift, lease or licence or in any other manner whatsoever, the employer and the person to whom the establishment is so transferred shall jointly and severally be liable to pay the contribution and other sums due from the employer under any provision