Restriction on statutory interest does not bar voluntary higher payments by employees or trustees where affordable. Sub section (2) of section 418 limits an employee's statutory right to interest above the prescribed rate but does not prohibit employees from receiving, nor trustees of a provident fund from voluntarily paying, a higher rate of interest when the fund or trustees can afford such payments.
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Provisions expressly mentioned in the judgment/order text.
Restriction on statutory interest does not bar voluntary higher payments by employees or trustees where affordable.
Sub section (2) of section 418 limits an employee's statutory right to interest above the prescribed rate but does not prohibit employees from receiving, nor trustees of a provident fund from voluntarily paying, a higher rate of interest when the fund or trustees can afford such payments.
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