Daily Email Newsletter (Sign-up Free)

Section 31, ESI Act 1948: Expenditure by Central Govt to be treated as a loan

Section 31 (Expenditure by Central Government to be treated as a loan) under the Chapter III (Finance and Audit) of the Employees’ State Insurance Act 1948

❝All expenditure incurred by the Central Government for and in connection with the establishment of the Corporation up to the date of its establishment shall be treated as a loan advanced by the Central Government to the Corporation and such loan shall be adjusted against grants from the Central Government to the Corporation.❞


Section 31 was OMITTED by the Employees’ State Insurance (Amendment) Act, 1966 (44 of 1966). s. 12 (w.e.f. 17-6-1967).

..............................................................

Extra Notes:

The Employees’ State Insurance Act, 1948 was amended by the:
- the A.O. 1950;
- the A.O. (No. 3) 1956;
- the A.O. (No. 4) 1957;
- the Employees' State Insurance (Amendment) Act, 1951 (Act No. 53 of 1951);
- the Employees' State Insurance (Amendment) Act, 1966 (Act No. 44 of 1966);
- the Employees' State Insurance (Amendment) Act, 1975 (Act No. 38 of 1975);
- the Employees' State Insurance (Amendment) Act, 1984 (Act No. 45 of 1984);
- the Employees' State Insurance (Amendment) Act, 1989 (Act No. 29 of 1989);
- the Employees' State Insurance (Amendment) Act, 2010 (Act No. 18 of 2010).

No comments:

Post a Comment

In comment with "Name/Url" option, only Name is mandatory to be filled.