Jammu and Kashmir Provident Funds Act, 1998 (1941 A.D.)
No: 22 Dated: Dec, 25 1998
THE JAMMU AND KSAHMIR PROVIDENT FUNDS ACT SAMVAT, 1998 (1941 A.D.)
(Act No. XXII of Samvat 1998)
An Act to amend and consolidate the law relating to Government and other Provident Funds.
Whereas it is expedient to amend and consolidate the law relating to Government and other Provident Funds;
It is enacted as follows:-
1. Short title, extent and commencement. - (a) This Act may be called the Jammu and Kashmir Provident Funds Act, 1998.
(b) It extends to the whole of the Jammu and Kashmir State.
(c) It shall come into force on such date as the Government may, by notification in the Government Gazette, appoint.
2. Definitions. - In this Act, unless there is anything repugnant in the subject or context,-
(a) "compulsory deposit" means a subscription to, or deposit in, a Provident Fund which, under the rules of the Fund, is not until the happening of some specified contingency, repayable on demand otherwise than for the purpose of the payment of premia in respect of a policy of life insurance or the payment of subscriptions or premia in respect of a family pension fund, and includes any contribution and any interest or increment which has accrued under the rules of the Fund on any such subscription, deposit or contribution, and also any such subscription, deposit, contribution, and interest or increment remaining to the credit of the subscriber or depositor after the happening of any such contingency;
(b) "contribution" means any amount credited in a Provident Fund by any authority administering the Fund, by way of addition to, a subscription to, or deposit or balance at the credit of an individual account in the Fund, and "Contributory Provident Fund" means a Provident Fund, the rules of which provide for the crediting of contributions;
(c) "dependent" means any of the following relatives of a deceased subscriber to, or a depositor in, a Provident Fund namely, a wife, husband, parent, child, minor brother, unmarried sister and a deceased son's widow and child and where no parent of the subscriber or depositor, is alive, a paternal grandparent;
(d) "government provident fund" means a Provident Fund constituted, by the authority of the Government for any class or classes of its employees;
(e) "Provident Fund" means a fund in which subscription or deposits of any less or classes of employees are received and held on their individual accounts and includes any contributions and any interest or increment accruing on such subscriptions, deposits or contributions under the rules of the Fund.
3. Protection of compulsory deposits. - (1) A compulsory deposit in any Government Provident Fund shall not in any way be capable of being assigned or charged and shall not be liable to attachment under any decree or order of any Civil, Revenue or Criminal Court in respect of any debt or liability incurred by the subscriber or depositor, and neither the official assignee nor any receiver appointed under Order XXI-A of the Code of Civil Procedure, 1977, shall be entitled to, or have any claim on any such compulsory deposit.
(2) any sum standing to the credit of any subscriber to, or depositor in, any such fund at the time of his decease any payable under the rules of the fund to any dependent of the subscriber or depositor, or to such person as may be authorised by law to receive payment on his behalf, shall, subject to any deduction authorised by this Act and, save where the dependent is the widow or child of the subscriber or depositor, subject also to the right of an assignee under an assignment made before the commencement of this Act, vest in the dependent, and shall, subject as aforesaid, be free from any debt or other liability incurred by the dependent before the death of the subscriber or depositor.