Amendment status not verified — confirm the current text below against the official source.
(1) Every employer shall, pending determination under section 12 of the amount due from him, pay on or before the 5th day of every month by way of advance contribution an amount equivalent to one-twelfth of the amount payable annually by him in respect of his establishment, according to the latest determination under the said section or, if the amount due from him has not been previously determined under the said section,an amount quivalent to one-twelfth of the amount which, according to the assessment of the employer is payable by him annually in respect of his establishment. (2) The contribution shall be remitted to the individual account of each member and the employer shall file a statement showing the amount due to each member while remitting the monthly contribution. (3) The contribution in respect of a self- employed person for a month shall become payable on or before the 5th day of the succeeding month. (4) Where the advance contribution is not paid on or before the due date, the Welfare Fund Inspector shall issue a notice to the defaulter showing the amount of arrears and, if the amount is not paid within seven days of the receipt of such notice, it may be recovered in the same manner as arrears of public revenue due on land. (5) The amount paid under sub-section (1) by an employer shall be adjusted against the amount determined under section 12 of that year.