Section 7B(2) in Karnataka Labour Welfare Fund Act, 1965
(2)If the employer fails 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 twelve percent per annum 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 eighteen percent per annum of that amount for each complete month thereafter, during the time he continues to make default in the payment of that amount.]
