Investor Presentaiton
Sanctions
S.N. Non-Complia
1.
nces
Non-Depositio
n of Fund
within 15 days
from the end
of the Month
(Section 9 of
Social Security
Act)
Sanctions
Recovery Steps
The Fund may recover such 1.
amount with additional 2.
interest at the rate of 10%.
3.
Freeze of Bank Account
Freeze of Private property of
the employer
Freeze or suspend any of the
the prevailing laws
exemptions entitled pursuant to
4.
To suspend the Approval letter
obtained by the employer
5.
2.
Non
the Fund
Enlistment
To freeze the passport of the
employer.
Issuance of Oder in the name In case the Employer does not pay
in of Employer to;
out the amount then such amount is
immediately enlist in the recovered by the Fund from the
Employer.
(a)
(Section 17 of (b)
Social Security
Act)
(c)
Fund
deposit the Fund with
additional interest
Pay out the amount to the
employees whose service
has been terminated
ER
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