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CS Executive · Setting Up of Business, Industrial and Labour Laws · The Code on Social Security, 2020

Under the Code on Social Security, 2020, what is held and administered by the Corporation for the purposes of the Code, and into what are contributions and user charges paid?

All contributions, user charges and other moneys received on behalf of the Corporation are paid into the Employees' State Insurance Fund, which the Corporation holds and administers for the purposes of the Code. The National Social Security Board does not administer it.

  1. AContributions are paid into the Employees' State Insurance Fund, which the Corporation holds and administersCorrect
  2. BContributions are paid into the National Social Security Board's account, which the Board administers
  3. CContributions are paid to each State Government, which administers them for the Corporation
  4. DContributions are paid directly to insured persons' bank accounts

Explanation

Section 25(1) provides that all contributions and user charges under the Chapter and other moneys received on behalf of the Corporation are paid into the Employees' State Insurance Fund, held and administered by the Corporation. The National Board concerns unorganised workers and does not administer this Fund.

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