The Gazette of India
PART III- Section 4
PUBLISHED BY AUTHORITY
NEW DELHI, FRIDAY, MAY 12, 2017
CENTRAL WAREHOUSING CORPORATION
(A GOVERNMENT OF INDIA UNDERTAKING)
New Delhi, the 19th April, 2017
No. CWC/FD-EPF-Regulation/Amendment/16- 17: In exercise of powers conferred by section 42 of the Warehousing Corporations Act, 1962 (58 of 1962), the Central Warehousing Corporation, with the previous sanction of the Central Government, hereby makes the following regulations further to amend the Central Warehousing Corporation Employees’ Provident Fund Regulations, 1962, namely:-
1. (1) These regulations may be called the Central Warehousing Corporation Employees’ Provident Fund Amendment Regulations, 2017.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Central Warehousing Corporation Employees’ Provident Fund Regulations, 1962, for regulations 14 & 15, the following regulations shall be substituted, namely:—
“14. Calculation of interest—(1) In case of transfer or payment of provident fund accumulations on final settlement of an account, interest on the balance standing at the credit of the account shall be payable up to the end of the month preceding of the date on which the transfer or payment is authorised or up to the end of the thirty six months after the month in which such amount becomes payable, whichever of these period is less:
Provided that rate of interest to be allowed for the broken currency period shall be the rate declared for the financial year in which payment is authorised.
(2) In case of a subscriber coming from other provident fund, interest on his transferred accumulation is to be credited to his account from the beginning of the month in which the accumulations are received.
15. Payment of amount standing to credit of subscriber- The sum standing to the credit of a subscriber shall become payable on his leaving the service of the Corporation:
Provided that when a subscriber has resigned from the service of the Corporation and taken up service under a Government or a body corporate or any autonomous body with liability to subscribe to a Provident Fund recognised under Income Tax Act 1961, the amount payable to such subscriber shall be remitted for credit to his new provident fund account.
15A. Withdrawal within one year before the retirement on superannuation – A subscriber may be allowed to withdraw upto 90 percent of the amount standing to his credit within one year before his retirement on superannuation.
15B. Protection from attachment – (1) The amount standing to the credit of any subscriber in the fund shall not in any way be capable of being assigned or charged and shall not be liable to attachment.
(2) The amount standing to the credit of any subscriber in the fund is neither capable of nor liable to withholding, forfeiture, deduction, adjustment, recovery as a consequence of any order under disciplinary proceedings and subscriber of the fund shall not be compelled to give any undertaking, assigning or giving consent for any recovery from the amount standing to his credit in the fund and any such undertaking shall be void”.
K. SAW, Dy. General Manager(Personnel)
Note : The original regulations were notified vide S.O. No.1014 dated 30.03.1962 published in the Gazette of India, Part-II, Section 3(ii) dated 07.04.1962 and subsequently amended as follows:-
1. S.O. No. 1694 dated 17.06.1963 published in the Gazette dated 22.06.1963
2. S.O. No. 3563 dated 17.12.1963 published in the Gazette dated 21.12.1963
3. S.O. No. 4258 dated 08.12.1964 published in the Gazette dated 12.12.1964
4. S.O. No. 3382 dated 18.9.1967 published in the Gazette dated 23.09.1967
5. S.O. No. 3666 dated 11.10.1968 published in the Gazette dated 19.10.1968
6. S.O. No. 1801 dated 20.03.1971 published in the Gazette dated 01.05.1971
7. S.O. No. 787 dated 06.02.1976 published in the Gazette dated 21.02.1976
8. S.O. No. 983 dated 05.03.1979 published in the Gazette dated 17.03.1979
9. S.O. No. 197 dated 07.01.1982 published in the Gazette dated 23.01.1982
10. S.O. No. 2 dated 02.05.1985 published in the Gazette dated 18.05.1985 (part III- Section 4)
11. S.O. No. 35 dated 29.08.1991 published in the Gazette dated 30.08.1991
12. S.O. No. 49 dated 24.12.1991 published in the Gazette dated 24.12.1991
13. S.O. No. 7 dated 18.04.1999 published in the Gazette dated 25.01.1999
14. S.O. No. 113 dated 20.07.2006 published in the Gazette dated 24.07.2006