Section 31C in Employees' State Insurance (General) Regulations, 1950

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Section 31C in Employees' State Insurance (General) Regulations, 1950

31C. [ Damages or contributions or any other amount due, but not paid in time [ Substituted by Noti. No. N-12/13/3/2002-P&D, dated 27.3.2003 (w.e.f. 19.4.2003). Earlier Regn. 31-C was inserted by Noti. No. N-12/13/2/91-P&D, dated 6.12.1991 (w.e.f. 1.1.1992).]

.-An employer who fails to pay contributions within the periods specified under regulation 31, or any other amount payable under the Act, shall be liable to pay damages as under:

Period of delay	Maximum rate of damages in per cent per annum of the amount due
(i)Less than 2 months	5%
(ii)2 months and above but less than 4 months	10%
(iii)4 months and above but less than 6 months	15%
(iv)6 months and above	25%

PROVIDED that the Corporation, in relation to a factory or establishment which is declared as sick industrial company and in respect of which a rehabilitation scheme has been sanctioned by the Board for Industrial and Financial Reconstruction, may-

(a)in case of a change of management including transfer of undertaking (s) to worker (s) co-operative or in case of merger or amalgamation of sick industrial company with a healthy company, completely waive the damages levied or leviable;

(b)in other cases, depending on its merits, waive up to 50 per cent damages levied or leviable;

(c)in exceptional hard cases, waive either totally or partially the damages levied or leviable.]

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Union of India - Section

Section 31C in Employees' State Insurance (General) Regulations, 1950

31C. [ Damages or contributions or any other amount due, but not paid in time [ Substituted by Noti. No. N-12/13/3/2002-P&D, dated 27.3.2003 (w.e.f. 19.4.2003). Earlier Regn. 31-C was inserted by Noti. No. N-12/13/2/91-P&D, dated 6.12.1991 (w.e.f. 1.1.1992).]