Section 3

The Bombay Labour Welfare Fund Act,1953(Bombay Act XL of 1953) As Extended To The Union Territory of Delhi

3. Welfare Fund
 
(1) The Administrator shall constitute a fund called the Labour Welfare Fund, and notwithstanding anything contained in any other law for the time being in force or in any contract or instrument; all unpaid accumulations shall be paid at such intervals as may be prescribed to the Board, which shall keep a separate account therefor until claims thereto have been decided in the manner provided in section 6A, and the other sums specified in sub-section (2) shall be paid into the Fund.

(2) The Fund shall consist of-

(a) all fines realised from the employees;
(b) unpaid accumulations transferred to the Fund under section 6A;
(bb) any penal interest paid under section 6B;
(bbb) any contribution paid under section 6BB;
(c) any voluntary donations;
(d) any fund transferred under sub-section (5) of section 7;
(e) any sum borrowed under section 8;
(f) any loan, grant-in-aid or subsidy paid by the Government.
(3) The sums specified in sub-section (2) shall be paid, or collected by such agencies, at such intervals and in such manner and the accounts of the Fund shall be maintained and audited in such manner as may be prescribed.
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Last Updated : 23 Mar,2014