https://www.taxtmi.com/caselaws?id=214991 Provident fund dues under Section 11(2) of the EPF Act constitute a first charge on the employer's assets and are payable in priority to all other debts, including secured claims. Section 529A of the Companies Act, 1956 gives overriding preferential treatment to workmen's dues and secured creditors within the statutory pari passu scheme, but it does not create a first charge for secured creditors or displace the specific priority granted to provident fund dues. Read together, the special statutes preserve the EPF Act's mandate, and the later amendment to the Companies Act does not dilute that priority. Accordingly, provident fund dues must be paid first in winding up. en-us Tue, 08 Nov 2011 00:00:00 +0530 Wed, 06 Mar 2019 13:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214991 Provident fund dues under Section 11(2) of the EPF Act constitute a first charge on the employer's assets and are payable in priority to all other debts, including secured claims. Section 529A of the Companies Act, 1956 gives overriding preferential treatment to workmen's dues and secured creditors within the statutory pari passu scheme, but it does not create a first charge for secured creditors or displace the specific priority granted to provident fund dues. Read together, the special statutes preserve the EPF Act's mandate, and the later amendment to the Companies Act does not dilute that priority. Accordingly, provident fund dues must be paid first in winding up. Case-Laws Companies Law Tue, 08 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214991