Section 8 in The Personal Injuries (Compensation Insurance) Scheme, 1972
8. Advance of premium .-(1) The amount of the advance premium payable [for the quarter ending 31st December, 1971], against the total premium to be determined under clause 6 shall be at the rate of three paise per one hundred rupees of the relevant wages bill.
(2)The amount of advance premiums payable during subsequent quarters which shall be expressed as a percentage of the relevant wages bill of each employer shall be payable at such rates as may be notified from time to time by the Central Government in the Official Gazette in this behalf.(3)Advance premiums shall not be required to be paid more frequently than once in a quarter.(4)The relevant wages bill for an advance premium shall be the wages bill for the quarter preceding the one in which the advance premium is required to be paid.(5)If at any time the Central Government is of opinion that the balance in the fund is sufficient to meet the probable liabilities of the fund as foreseen at that time, the Central Government may waive or postpone the payment of advance of premium during the current or any future quarter.(6)All advance premiums shall be paid by the employer into a Government treasury under the head of account and the treasury challan evidencing payment of the advance payments shall be forwarded by the employer to the Government Agent, to whom the application under clause 4 is required to be made within such time as may be specified by the Central Government in the Official Gazette in this behalf.(7)The final premium and the advance premiums shall be rounded off to the nearest rupee.[(7-A) The minimum final premium and the minimum advance premium payable by an employer shall be rupee one.] [[ Inserted by the Personal Injuries (Compensation Insurance) (Amendment)Scheme, 1972.]](8)The Government Agent or his officer shall give a receipt in Form C for each advance premium after the first paid by the employer.
