https://www.taxtmi.com/acts?id=51225 Sections 11C and 11D empower the Central Government to notify exemptions of coal mines or classes of employees from the Insurance Scheme when employees already receive superior life-insurance benefits without separate contributions. Employers subject to exemption must maintain prescribed accounts and records, allow inspections, preserve benefit quantum unless governmental leave is granted, and transfer employee accumulations on re-employment or on cancellation. Exemptions may be revoked for non-compliance and, upon cancellation, accumulations are to be transferred to the Insurance Fund as specified. The Act operates notwithstanding inconsistencies with the Life Insurance Corporation Act. en-us Mon, 05 May 2025 17:16:26 +0530 Mon, 05 May 2025 17:16:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51225 Sections 11C and 11D empower the Central Government to notify exemptions of coal mines or classes of employees from the Insurance Scheme when employees already receive superior life-insurance benefits without separate contributions. Employers subject to exemption must maintain prescribed accounts and records, allow inspections, preserve benefit quantum unless governmental leave is granted, and transfer employee accumulations on re-employment or on cancellation. Exemptions may be revoked for non-compliance and, upon cancellation, accumulations are to be transferred to the Insurance Fund as specified. The Act operates notwithstanding inconsistencies with the Life Insurance Corporation Act. Act-Rules F. Acts / Amendment Acts Mon, 05 May 2025 17:16:26 +0530 https://www.taxtmi.com/acts?id=51225