Section 16(8) in Uttar Pradesh Sugar Undertakings (Acquisition) Act, 1971
(8)Where at any time after the appointed day the Corporation promotes any subsidiary company and transfer one or more scheduled undertaking which by virtue of this Act have vested in the Corporation such company, the services of such of the employees of the Corporation declare to have been employed in connection with that or those undertaking excepting (such of them as elect otherwise within such time as may be prescribed) shall stand transferred to that subsidiary company and every such employee shall become the employee of such company and privileges as to pension, gratuity and other matters as would have been admissible to him if the undertaking had not been transferred to the subsidiary company, and shall continue to do so until his remuneration or other terms and conditions of service are revised or altered by the company under or in pursuance of any law or in accordance with any provision which for the time being governs his service and the provisions of sub-section (5) shall mutatis mutandis apply to in relation to such transfer of services.
