Loss write-off power under provident fund scheme applies only when dues are irrecoverable and fund conditions justify discretion. The Central Board may write off contribution, cess, interest or damages due under the Scheme where it is satisfied that the amount is irrecoverable. The Board must consider the facts and circumstances of each case and the overall financial condition of the Fund before exercising this discretionary loss-write-off power tied to recoverability and financial prudence.
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.
Loss write-off power under provident fund scheme applies only when dues are irrecoverable and fund conditions justify discretion.
The Central Board may write off contribution, cess, interest or damages due under the Scheme where it is satisfied that the amount is irrecoverable. The Board must consider the facts and circumstances of each case and the overall financial condition of the Fund before exercising this discretionary loss-write-off power tied to recoverability and financial prudence.
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