Provident fund accumulation transfer requires cash remittance, subscriber statements, and crediting members' accounts under the scheme. Transfer of accumulations from an existing provident fund to the Fund is required where the scheme applies or exemption is cancelled. The managing authority must furnish subscriber-wise statements, transfer accumulations within the prescribed time limits, and hand over pass books, accounts and related documents to the Central Board. All accumulations are to be transferred in cash, with special treatment for investments in savings certificates and, in exceptional cases, securities. Transferred cash must be deposited in the Central Board's bank account and credited to members' accounts according to entitlement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Provident fund accumulation transfer requires cash remittance, subscriber statements, and crediting members' accounts under the scheme.
Transfer of accumulations from an existing provident fund to the Fund is required where the scheme applies or exemption is cancelled. The managing authority must furnish subscriber-wise statements, transfer accumulations within the prescribed time limits, and hand over pass books, accounts and related documents to the Central Board. All accumulations are to be transferred in cash, with special treatment for investments in savings certificates and, in exceptional cases, securities. Transferred cash must be deposited in the Central Board's bank account and credited to members' accounts according to entitlement.
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