Exemption of establishments under social security law requires prescribed conditions, trustee management, and transfer of accumulations on cancellation. The appropriate Government may, by notification, exempt an establishment or class of establishments, or employees or class of employees, from any or all provisions of the Code or the scheme framed thereunder, subject to prescribed eligibility and post-exemption conditions. Prior consultation is required for exemptions relating to the Provident Fund Scheme, Pension Scheme, Insurance Scheme, and Chapter IV. Exemption is initially for three years, may continue only where benefits are substantially similar or superior, and may be cancelled on breach of conditions, with transfer of accumulations and reserves to the statutory funds. The employer may also surrender the exemption through the prescribed process.