Terms and conditions after exemption

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....ed to the Regional Provident Fund Commissioner in Form-III. (4) The employer of an exempted establishment shall comply with sections 16, 125, 128 and 129 of the Code, in addition to conditions specified in the notification granting exemption and any contravention shall attract penalties provided under section 133 of the Code. (5) The employer shall pay inspection charges at the rate notified by the Central Government. (6) The employees who would have been eligible to become members of the Provident Fund, had the establishment not been granted exemption, shall be enrolled as members. (7) The employer shall transfer contributions payable by the employer and employees to the board of trustees by the 15th of each month following the....

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.... and thereupon, a reasoned order shall be passed by the Regional Provident Fund Commissioner after issuing a notice to both the employer and the employee. (15) All claims for withdrawals, advances and transfers shall be filed electronically in the manner specified by the Central Provident Fund Commissioner. (16) The establishment shall provide facilities for online claim settlement which shall be settled within the time limit specified in this Scheme. (17) The board of trustees shall maintain detailed electronic account showing contributions credited, withdrawals made and interest accrued and the establishment shall periodically transmit the same to the account of the member electronically. (18) The board of trustees and the emp....

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....ablishment or cancellation of exemption from this Scheme, employer shall transfer the investments standing in the name of the trust to the concerned Regional Provident Fund Commissioner in cash. (25) The exempted establishment shall intimate to the concerned Regional Provident Fund Commissioner, the details of the depository participants with whom investments are lodged and the board of trustees may raise sums required for obligatory expenses, such as settlement of claims, grant of advances, transfer of accumulations or cancellation of exemption, subject to online intimation to the Regional Provident Fund Commissioner. (26) Any commission, incentive, bonus or other pecuniary rewards received from financial institutions for investments....

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.... shall be submitted electronically within six months from the close of the financial year. (33) The accounting format shall be determined by the Central Provident Fund Commissioner in consultation with the Institute of Chartered Accountants of India. (34) The exemption shall be cancelled as a last measure in case of violation of conditions, including where the rate of contribution or interest declared is inferior to that under the Code or claims are not settled within the specified time, but shall not be cancelled where deficiencies are rectified within the time given in the improvement notice and may also be cancelled in the event of closure or liquidation of the establishment. (35) Any loss to the trust due to fraud, defalcation,....