Employees' State Insurance (General) Amendment Regulations, 2018

Nov 22, 2018 | by Avantis RegTech Legal Research Team

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The Ministry of Labour and Employment on October 30, 2018 has published Employees' State Insurance (General) Amendment Regulations, 2018 to further amend the Employees' State Insurance (General) Regulations, 1950.

Draft Regulation had been issued for inviting objections and suggestions from all persons likely to be affected thereby till the expiry of the period of Thirty days from the date on which the notification was published, are made available to the public i.e. August 13, 2018.

No objections and suggestions were received from any of the persons likely to be affected.

Therefore, following amendment has been made in the Employees’ State Insurance (General) Amendment Regulations, 1950 namely:

The proviso to Regulation 31C shall be replaced as under:

Provided that the corporation in relation to a company in respect of which a Resolution plan has been sanctioned by the National Company Law Tribunal under the Insolvency & Bankruptcy Code, 2016 may:

a.       Waive up to 50 percent of the damages                levied or leviable depending upon the merits of the case.

b.      In exceptional hard cases, waive either totally or partially the damages levied or leviable. 

[No. N-12/13/1/2016-P&D]

 

URL: http://egazette.nic.in/WriteReadData/2018/193069.pdf


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