Ins. by Act 99 of 1976, s. 14 (w.e.f. 1-8-1976). — THE COAL MINES PROVIDENT FUND AND MISCELLANEOUS PROVISIONS ACT, 1948

4. Ins. by Act 99 of 1976, s. 14 (w.e.f. 1-8-1976). (3) Where in respect of any person or class of persons employed in any coal mine, an exemption is granted under this section from the operation of all or any of the provisions of the Insurance Scheme (whether such exemption is granted to the coal mine wherein such person or class of persons is employed or to the person or class of persons as such), the employer in relation to such coal mine— (a) shall, in relation to the benefits in the nature of life insurance, to which any such person or class of persons is entitled, or any insurance fund, maintain such accounts, submit such returns, make such investment, provide for such facilities for inspection and pay such inspection charges, as the Central Government may direct; (b) shall not, at any time after the exemption without the leave of the Central Government, reduce the total quantum of benefits in the nature of life insurance to which any such person or class of persons was entitled immediately before the date of the exemption; and (c) shall, where any such person leaves his employment and obtains reemployment in any other coal mine transfer within such time as may be specified in this behalf by the Central Government, the amount of accumulations to the credit of that person in the insurance fund of the coal mine left by him to the credit of that person ‟ s account in the insurance fund of the coal mine in which he is reemployed or, as the case may be, in the Deposit-linked Insurance Fund. Explanation.—For the purposes of this sub-section " insurance fund " means any fund established by an employer under any scheme for providing benefits in the nature of life insurance to employees, whether linked to their deposits in provident fund or not, without payment by the employees of any separate contribution or premium in that behalf. (4) Any exemption granted under this section may be cancelled by the authority which granted it, by order in writing, if an employer fails to comply— (a) in the case of an exemption granted under sub-section (1) with any of the conditions imposed under that sub -section or with any of the provisions of sub-section (3); (b) in the case of an exemption granted under sub-section (2), with any of the provisions of sub -section (3). (5) Where any exemption granted under sub-section (1) or sub-section (2) is cancelled, the amount of accumulations to the credit of every employee to whom such exemption applied, in the insurance fund of the coal mine in which he is employed shall be transferred within such time and in such manner as may be specified in the Insurance Scheme to the credit of his account in the Insurance Fund.

Section 4