Employer contribution deduction restrictions expanded, with exceptions for bona fide employee welfare expenditures and repayment rights. The amendment disallows deductions for employer payments to funds, trusts, companies, associations, societies or other institutions except where such payments qualify under specified provisions for employee welfare or are required by law. It provides an exception allowing deduction if the Income-tax Officer finds that, before a specified date, the recipient had bona fide expended non-capital amounts wholly and exclusively for employee welfare, treating such expenditure as if incurred by the employer. It also permits employers who made payments before that date to claim repayment of unutilised amounts or transfer of assets acquired from those sums.