Section 10 in The M.P. Shram Kalyan Nidhi Adhiniyam, 1982
10. Interest on unpaid accumulations or fine on the notice of demand.
(1)If an employer does not pay to the Board any amount of unpaid accumulations or fines realised from the employees, or the amount of the employer's and employee's contribution under Section 9 within the time he is required by or under the provisions of this Act to pay it, the Welfare Commissioner may cause to be served a notice on the employer to pay the amount within the period specified therein, which shall not be less than thirty days from the date of service of such notice.(2)If the employer fails without sufficient cause, to pay any such amount within the period specified in the notice he shall, in addition to that amount, pay to the Board simple interest :-(a)for the first three months at [one and a half per cent] [Substituted by M.P. Act No. 11 of 1996.] of the said amount for each complete month after the last date by which he should have paid it according to the notice; and(b)at [two per cent] [Substituted by M.P. Act No. 11 of 1996.] of that amount for each complete month thereafter during the time he continues to make default in the payment of that amount.
