Section 24(4) in The Employee's Deposit-Linked Insurance Scheme, 1976
(4)[ The claims, complete in all respects submitted along with the requisite documents shall be settled and benefit amount paid to the beneficiaries within [twenty days] [ Inserted by G.S.R. 334, dated 29.8.1997 (w.e.f. 13.9.1997).] from the date of its receipt by the Commissioner. If there is any deficiency in the claim, the same shall be recorded in writing and communicated to the applicant within [twenty days] [Substituted by Notification No. G.S.R. 527(E) dated 2.7.2015, (w.e.f. 28.7.1976).] from the date of receipt of such application. In case the Commissioner fails without sufficient cause to settle a claim complete in all respect within [twenty days] [Substituted by Notification No. G.S.R. 527(E) dated 2.7.2015, (w.e.f. 28.7.1976).], the Commissioner shall be liable for the delay beyond the set period and penal interest 12% per annum may be charged on the benefit amount and the same may be deducted from the salary of the Commissioner.] [ Inserted by G.S.R. 420, dated 31.8.1992 (w.e.f. 19.9.1992).]
