Amendment status not verified — confirm the current text below against the official source.
Vesting and application of Fund. --- (1) The Fund shall vest in, and be held and applied by, the Board as trustees subject to the provisions, and for the purposes, of this Act. The moneys therein shall be utilised by the Board to defray the cost of carrying out measures which may be specified by the Government from time to time to promote the welfare of employees and of their dependants. (2) Without prejudice to the generality of the provisions of sub-section (1), the moneys in the Fund may be utilised by the Board to defray expenditure on the following, namely: -- (a) community and social education centres; (b) vocational training; (c) community necessities; (d) entertainment and other forms of recreation; (e) convalescent homes for tuberculosis patients; (f) holidays home in health resorts; (g) part-time employment for housewives of employees; (h) pre-schools; (i) nutritious food to children of employees; (j) employment opportunities to the disabled employees 1[or the widows of the deceased employees]; (k) cost of administering this Act including the salaries and allowances of the staff appointed for the purposes of this Act; and (l) such other objects as would, in the opinion of the Board, improve the standard of living 1[and education] and ameliorate the social conditions of labour: Provided that the Fund shall not be utilised in financing any measure which the employer is required under any law for the time being in force to carry out: Provided further that unpaid accumulations and fines shall be expended by the Board under this Act notwithstanding anything contained in the Payment of Wages Act, 1936 (Central Act IV of 1936) or any other law or agreement for the time being in force. (3) The Board may, with the approval of the Government, make grants from the Fund to any local authority or any other body in aid of any activity for the welfare of employees. (4) If any question arises whether any particular expenditure is or is not debitable to the Fund, the matter shall be referred to the Government whose decision thereon shall be final. (5) The Board may accept the transfer of any Labour Welfare Fund of any establishment and may continue any activity financed from such Labour Welfare Fund if the said Fund is duly transferred to the Board.