Amendment status not verified — confirm the current text below against the official source.
(1) [Subject to the provisions of Sec. 17, every employee who is subscriber to any provident fund of [an establishment] to which this Act applies shall, pending the application of a scheme to] the [establishment] in which he is employed, continue to be entitled to the benefits accruing to him under the provident fund, and the provident fund shall continue to be maintained in the same manner, and subject to the same condition as it would have been if this Act has not been passed, (2) [On the application of any Scheme to [an establishment] the accumulations in any provident fund of the [establishment], standing to the credit of the employees who become members of the fund established under the scheme shall, notwithstanding anything to the contrary contained in any law for the time being in force or any deed or other instrument establishing the provident fund but subject to the provisions, if any, contained in the scheme, be transferred to the fund established under the scheme, and shall be credited to the accounts of the employees entitled thereto in the fund. Subs. by Act 37 of 1953, Sec. 14, for certain words. Subs. by Act 94 of 1956, Sec. 3, for the words "a factory" (w.e.f. 1st August, 1956). Subs. by ibid., Sec. 3, for the word "factory".