Amendment status not verified — confirm the current text below against the official source.
Interest on unpaid accumulations or fine on the \notice of demand.—(1) If an employer does not pay to the Board any amount of unpaid accumulations or lines realised from the employees, or the amount of the -employer's and employee's contribution under Section 9 within the time he is required by or under the provisions of this Act to pay it, the Welfare Commissioner may cause to be served a notice on the employer to pay the amount within the period specified therein, which shall not be less than thirty days from the date of service of such notice. (2) If the employer fails without sufficient. cause, to pay such amount Within the period specified in theAdottce-he shall, in addition to tha't amount, pay to the Board simple interest— for the first three months at I (One \and a half . per. cent) of the said amount for eaeh complete month after the last date by which he should have paid it according to the notice; and at 3( Two per cent) of that amount for each complete month thereafter during the time he continues.to make default in the payment of thatamount.