Employees State Insurance Act, 1948

Section - 26 - Employeesâ€™ State Insurance Fund

CHAPTER III

FINANCE AND AUDIT

Employees’ State Insurance Fund.

26. (1) All contributions paid under this act and all other moneys received on behalf of the Corporation shall be paid into a fund called the Employees’ State Insurance Fund which shall be held and administered by the Corporation for the purposes of this Act.

(2) The Corporation may accept grants, donations and gifts from the Central or any [State] Government, [***] local authority, or any individual or body whether incorporated or not, for all or any of the purposes of this Act.

[(3)Subject to the other provisions contained in this Act and to any rules or regulations made in this behalf, all moneys accruing or payable to the said Fund shall be paid into the Reserve Bank of India or such other bank as may be approved by the Central Government to the credit of an account styled the Account of the Employees’ State Insurance Fund.]

(4) Such account shall be operated on by such officer as may be authorised by the Standing Committee with the approval of the Corporation.

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