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Employees' Provident Fund (Amendment) |
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AN ACT TO AMEND THE EMPLOYEES' PROVIDENT FUND ACT, NO. 15 OF 1958
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BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka as follows:-
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[9th February
, 2012 ]
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Short title.
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1. This Act may be cited as the Employees' Provident Fund (Amendment) Act, No. 2 of 2012.
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Amendment of section 3 of Act, No. 15 of 1958.
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2. Section 3 of the Employees' Provident Fund Act, No. 15 of 1958, (hereinafter referred to as the "principal enactment") is hereby amended by the insertion immediately after subsection (1) of that section, of the following new subsection:-
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"(1A) Where an employee becomes a member of the Fund established under subsection (1), the Commissioner-General of Labour shall assign an identification number to such employee and employer in the prescribed manner.".
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Amendment of section 5 of the principal enactment.
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3. Section 5 of the principal enactment is hereby amended in subsection (1) of that section as follows :-
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(1) by the insertion immediately after paragraph (e) of that subsection, of the following new paragraph :-
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"(ee) may invest such amount of moneys of the Fund according to such terms and conditions as may be prescribed, to purchase a land for the construction of a Secretariat on behalf of the Fund or to construct such Secretariat on any land belonging to or held by the Fund, for the use of the Fund; " and" ;
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(2) in paragraph (ff) of that subsection, by the substitution for the words "account, for a period not exceeding six years prior to the date of such transfer, and" of the words "account and".
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Insertion of new section 23A in the principal enactment.
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4. The following new section is hereby inserted immediately after section 23 of the principal enactment and shall have effect as section 23A of that enactment:-
"Housing benefits and benefits relating to medical treatment.
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23A.
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(1) Every member of the Fund who-
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(a) has made contributions to the Fund for a period of not less than ten years;
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(b) is presently employed; and
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(c) possesses not less than three hundred thousand rupees to his credit in his individual account,
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shall, for the purpose of-
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be entitled to withdraw such amount as does not exceed thirty per centum of the amount lying to his credit in his individual account :
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Provided that the Minister may in the interest of the national economy from time to time prescribe the maximum amount which may be withdrawn from any such individual account.
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(2) A member of the Fund who subject to the provisions of subsection (1) makes a withdrawal from the amount lying to his credit in his account, shall upon the completion of a period of ten years from the date of such withdrawal, subject to the provisions of paragraphs (b) and (c) of subsection (1) be entitled to make a second withdrawal of such amount as does not exceed thirty per centum from such account for any one of the above purposes.
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(3) Every member shall, during the period he is a contributor to the Fund be entitled to only two withdrawals from his individual account.
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(4) For the purpose of this section-
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"housing" includes-
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(a) the construction of a house on a land belonging to a member ;
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(b) the purchase of a land for the construction of a house;
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(c) the purchase of a house;
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(d) the redemption of a mortgage on housing property; or
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(e) the settlement of an outstanding balance of the housing loan received from the approved bank,
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"medical treatment" includes-
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(c) treatment for cancer including surgery;
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(d) kidney transplant or surgery;
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(e) cesarean operation; or
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(f) hospitalization for not less than fourteen days on the account of an accident.
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(5) A member of the Fund, his or her spouse and his or her children shall be entitled to the medical treatment referred to in this section.
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(6) The Minister may appoint, by Order published in the Gazette different dates for the bringing in to operation of the provisions of sub-paragraph (i) or (ii) of subsection (1) .".
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Amendment of section 31A of the principal enactment.
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5. Section 31A of the principal enactment is hereby amended, by the substitution for the words "at the rate of one per centum" of the words "at the rate of two per centum".
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Insertion of new section 31B in the principal enactment.
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6. The following new section is hereby inserted immediately after section 31A of the principal enactment and shall have effect as section 31B of that enactment:-
"Duty to furnish returns.
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31B.
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(1) It shall be the duty of every employer having in his employment a minimum of fifty employees to furnish a monthly return containing such particulars as may be prescribed, to the Commissioner- General of Labour with a copy to the Central Bank not later than the end of the succeeding month.
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(2) Every monthly return referred to in subsection (1) shall with effect from July 1, 2012 be submitted by electronic means.".
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Amendment of section 37 of the principal enactment.
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7. Section 37 of the principal enactment is hereby amended, by the substitution for the words "fine not exceeding one thousand rupees" and "fine not exceeding fifty rupees for each day" of the words "fine not exceeding two thousand five hundred rupees" and "fine not exceeding seventy five rupees for each day" respectively.".
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Amendment of section 46 of the principal enactment.
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8. Section 46 of the principal enactment is hereby amended in subsection (1) thereof by the insertion immediately after paragraph (n) of that subsection of the following new paragraph:-
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"(nn) in respect of the procedure to be followed in granting housing benefits and benefits relating to medical treatment;".
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Sinhala text to prevail in case of any inconsistency.
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9. In the event of any inconsistency between the Sinhala and Tamil texts of this Act, the Sinhala text shall prevail.
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