Amendment status not verified — confirm the current text below against the official source.
Where an employer makes default in the payment of any contribution to the Fund, [Pension] Fund or the Insurance Fund] or in the transfer of accumulations required to be transferred by him under sub-section (2) of Sec. 15 [or sub-section (5) of Sec. 17] or in the payment of any charges payable under any other provision of this Act or of [any Scheme or Insurance Scheme] or under any of the conditions specified under Sec. 17 [the Central Provident Fund Commissioner or such other officer as may be authorised by the Central Government By notification in the Official Gazette, in this behalf] may recover [from employer by way of penalty such damages, not exceeding the amount of arrears, as may be specified in the Scheme: ] [PROVIDED that before levying and recovering such damages, the employer shall be given a reasonable opportunity of being heard.] [PROVIDED further that the Central Board may reduce or waive the damages levied under this section in relation to an establishment which is a sick industrial company and in respect of which a scheme for rehabilitation has been sanctioned by the Board for Industrial and Financial Reconstruction established under Sec. 4 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), subject to such terms and conditions as may be specified in the Scheme.] Subs. by Act 25 of 1996, Sec. 4 (w.e.f. 16th November, 1995, for the words "Family Pension". Ins. by Act 28 of 1963, Sec. 10 (w.e.f. 30th November, 1963). Subs. by Act 99 of 1976, Sec. 32, for the words "or the Family Pension Fund" (w.e.f. 7th September, 1976). Subs. by Act 40 of 1973, Sec. 6 (w.e.f 1st November, 1973). Subs. by Act 33 of 1988, Sec. 20 (a) (w.e.f. 1st August, 1988), for certain words as amended by Act 40 of 1973, Sec. 6. Ins. by ibid., for the proviso. Ins. by Act 33 of 1988, Sec. 20 (b) (w.e.f. 1st August, 1988).