THE COAL MINES PROVIDENT FUND AND MISCELLANEOUS PROVISIONS (AMENDMENT) ACT, 1996
THE COAL MINES PROVIDENT FUND AND MISCELLANEOUS PROVISIONS (AMENDMENT) ACT, 1996
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Year : 1996
ACT NO. 23 OF 1996. [13th August, 1996.]
BE it enacted by Parliament in the Forty-seventh Year of the Republic of India as follows:-
An Act further to amend the Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948.
(1) This Act may be called the Coal Mines Provident Fund and Miscellaneous Provisions (Amendment)Act, 1996,
(2) It shall come INTO force on such date as the Central Government may, by notification in the Official Gazette, appoint,
In the long title to the Coal Mines Provident Fund and Miscellaneous Provisions Act,1948 (hereinafter referred to as the principal Act), for the words"Family Pension Scheme", the words "Pension Scheme" shall be substituted.
In section.2 of the principal Act,-
(a) Clause (ee) shall be omitted;
(b) After clause (g), the following Rowing clauses shall be inserted, namely:-
(h) "Pension Fund" means the Pension Fund established under sub-section (2) of section 3E;
(i) "Pension Scheme" means the Coal Mines Pension Scheme framed under sub-section (1) of section 3E;
(j) "Superannuation", in relation to an employee who is a member of the Pension Scheme, means the attainment, by the said employee, of such age as is fixed in the contract or conditions of service as the age on the attainment of which such employee shall vacate the employment..
In the principal Act, for the expressions "Family Pension", "Family Pension Fund", "Family Pension Scheme" and "Coal Mines Family Pension Scheme", wherever they occur, the expressions "Pension", "Pension Fund", "Pension. Scheme" and "Coal Mines Pension Scheme" shall respectively be substituted.
For section 3E of the principal Act, the following section shall be substituted, namely:-
3E.Coal Mines Pension Scheme.
(1) The Central Government may, by notification-in the Official Gazette, frame a scheme to be called the Coal Mines Pension Scheme for the purpose of providing for-
(a) Superannuation pension, retiring pension, or permanent total disablement pension to the persons employed in any coal mine or class of coal mines to which this Act applies; and
(b) Widow or widower pension, children pension or orphan pension and life assurance benefits, payable to the beneficiaries of such employees.
(2) Notwithstanding anything contained in section3,there shall be established, as soon as may be after framing of the Pension Scheme, a Pension Fund INTO which there shall be paid, FROM time to time, in respect of every employee who is a member of the Pension Scheme,-
(a) Such sums, not exceeding one-fourth, of the amount payable to the Fund under sub-section (1) of section 10D as the employers contribution as well as the employees contribution, as may be specified in the Pension Scheme;
(b) Such sums as the Central Government may, after due appropriation made by Parliament by law in this behalf, specify;
(c) The net assets of the Family Pension Fund as existed immediately before the establishment of the Pension Fund; and
(d) Any other contribution which may be made to the Pension Fund with the previous approval of the Central Government.
(3) On the establishment of the Pension Fund, the Family Pension Scheme (hereinafter referred to as the ceased scheme) shall cease to operate and all assets of the ceased scheme shall vest in, and shall stand transferred to, and all liabilities under the ceased scheme shall be enforceable against, the Pension Fund and the beneficiaries under the ceased scheme shall be entitled to draw the benefits. Riot less than the benefits, they were entitled to under the ceased scheme, FROM the Pension Fund.
(4) The Pension Fund shall vest in and be administered by the Board in such manner as may be specified in the Pension Scheme.
(5) A scheme trained under the provisions of sub-section (1) may provide for all or any of the matters specified in the Second Schedule.
For section 4 of the principal Act, the following section shall be substituted, namely:-
4.Fund to - recognise under Act of 1961.
For the purposes of the Income-tax Act, 1961, the Fund shall be deemed to be a recognised Provident Fund within the meaning of Part A of the Fourth Schedule to that Act.
In section 10 of the principal Act, in sub-section (2B),-
(a) For the words and figures "the Code of Criminal Procedure, 1898", (5 of 1898) the words and figures "the Code of Criminal Procedure, 1973" (2 of 1974) shall be substituted;
(b) For the word and figures "section 98", the word and figures "section 94" shall be substituted.
In section 11 of the principal Act, for the words and figures "section 230 of the Indian Companies Act, 1913",(7 of 1913) the words and figures "section 530 of the Companies Act,1956" (1 of 1956) shall be substituted.
For the Second Schedule to the principal Act, the following Schedule shall be substituted, namely:-
THE SECOND SCHEDULE
[See section 3E(5)]
MATTERS TO BE PROVIDED FOR IN THE COAL MINES PENSION SCHEME
1. The employees or class of employees to whom the Coal Mines Pension Scheme shall apply and the time within which option to join that Scheme shall be exercised by those employees to whom they said Scheme does riot apply.
2. The time within which the, employees who are not members of the Family Pension Scheme under section 3E as it stood before the commencement of the Coal Mines Provident Funds and Miscellaneous Provisions (Amendment) Act, 1996 (hereinafter, in this Schedule, referred to as the amending Act) shall opt for the Pension Scheme.
3. The portion of employers contribution and employees contribution to the Fund which shall be credited to the Pension Fund and the manner in which it is credited.
4. The Central Governments contribution and other contributions to the Fund which shall be credited to the Pension Fund and the manner in which it is credited.
5. The minimum qualifying service for being eligible for pension and the manner in which the employees may be granted die benefits of their past service under section 3E as it stood before the commencement of the amending Act.
6. The regulation of the period of service for which Do contribution is received.
7. The manner in which employees interest will be protected against default in payment of contribution by the employer.
8. The manner in which the accounts of the Pension Fund shall be kept and investment of moneys belonging to Pension Fund to be made subject to such pattern of investment as may be determined by the Central Government.
9. The form in which an employee shall furnish particulars about himself and the members of his family whenever- required.
10. The forms, registers and records to be maintained in respect of employees required for the administration of the Pension Scheme.
11. The scale of pension and pensionary benefits and the conditions relating to grant of such benefits to the employees, the amount of life assurance payable under the Pension Scheme and the manner of such payment.
12. The mode of disbursement of pension and arrangements to be entered INTO with such disbursing agencies as may be specified for the purpose.
13. The manner in which the expenses incurred in connection with the administration of the Pension Scheme may be paid by, the Central Government to the Board.
14. Nomination of persons for receiving pension and assurance amounts in the case of death of an employee.
15. Any other matter which is to be provided for in the Pension Scheme or which may be necessary or proper for the purpose of implementation of the Pension Scheme.".
(1) The Coal Mines Provident Fund and Miscellaneous Provisions (Amendment) Third Ordinance, 1996 (Ord. 22 of 1996) is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under the principal Act, as amended by the said Ordinance, shall be deemed to have been done or taken under the corresponding provisions of the principal Act, as amended by this Act.
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