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CS Professional · Labour Laws and Practice · Social Security Legislations

Sunrise Textiles Ltd's ESIC contributions are credited to the Employees' State Insurance Fund. The Corporation's finance head asks which authority administers the Fund under the Code on Social Security, 2020. Who holds and administers it?

The Employees' State Insurance Fund is held and administered by the Employees' State Insurance Corporation. Contributions, user charges and other moneys received on its behalf are paid into it. The Standing Committee acts only under the Corporation's general superintendence and control.

  1. AThe Standing Committee alone, without reference to the Corporation
  2. BThe Employees' State Insurance CorporationCorrect
  3. CThe Medical Benefit Committee
  4. DEach State Government for its own region

Explanation

Section 25 provides that contributions and other moneys received are paid into the Employees' State Insurance Fund, which is held and administered by the Corporation. The Standing Committee works subject to the Corporation's control, so it is not the holder of the Fund.

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