Section 21 in The Employees' State Insurance (Central) Rules, 1950
21. Bank or banks for depositing the Fund. - (1) All moneys accruing or payable to the Fund shall be received by such officers of the Corporation as may be authorised by it in this behalf. The amount so received shall as soon as practicable be acknowledged by a receipt in Form I and deposited in the Reserve or the [State Bank of India or any of its subsidiaries] [or the Nationalised Banks] [ Substituted by G.S.R. 129, dated 9.2.1987 (w.e.f. 28.2.1987).] to the account of the Fund:
Provided that any moneys may also be paid directly to the account of the Fund in any such bank.[ Explanation. - "Nationalised Bank" means a corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) or a corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (40 of 1980).] [ Inserted by G.S.R. 129, dated 9.2.1987 (w.e.f. 28.2.1987).](2)The receipt book in Form I shall be numbered serially by machine and the unused forms shall be kept in the custody of the [Financial Commissioner] [ Substituted by G.S.R. 76, dated 22.1.1991 (w.e.f. 1.2.1991).] or such other officer of the Corporation as may be authorised by the Corporation in this behalf.
