14B. Power to recover damages.

Where an employer makes default in the payment of any contribution to the Fund ¹[the ²[Pension] Fund or the Insurance Fund] or in the transfer of accumulations required to be transferred by him under sub-section 2 of section 15 ³[or sub-section 5 of section 17] or in the payment of any charges payable under any other provision of this Act or of ⁴[any Scheme or Insurance Scheme] or under any of the conditions specified under section 17, ⁵[the Central Provident Fund Commissioner or such other officer as may be authorised by the Central Government, by notification in the Official Gazette, in this behalf may recover ⁶[from the employer by way of penalty such damages, not exceeding the amount of arrears, as may be specified in the Scheme.]]

⁷[Provided that before levying and recovering such damages, the employer shall be given a reasonable opportunity of being heard].

⁸[Provided further that the Central Board may reduce or waive the damages levied under this section in relation to an establishment which is a sick industrial company and in respect of which a scheme for rehabilitation has been sanctioned by the Board for Industrial and Financial Reconstruction established under section 4 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), subject to such terms and conditions as may be specified in the Scheme.]

Notes:

1. Substituted by Act 99 of 1976, s. 32, for “or the family pension fund” (w.e.f. 1-8-1976).

2. Substituted by Act 25 of 1996, s. 4, for “Family Pension” (w.e.f. 16-11-1995). 

3. Inserted by Act 28 of 1963, s. 10 (w.e.f. 30-11-1963).

4. Substituted by Act 99 of 1976, s. 32, for “any scheme” (w.e.f. 1-8-1976).

5. Substituted by Act 40 of 1973, s. 6, for “the appropriate Government” (w.e.f. 1-11-1973).

6. Substituted by Act 33 of 1988, s. 19, for “from the employer such damages, not exceeding the amount of arrears as it may think fit to impose” (w.e.f. 1-9-1991).

7. Inserted by Act 40 of 1973, s. 6 (w.e.f. 1-11-1973).

8. Inserted by Act 33 of 1988, s. 20 (w.e.f. 1-9-1991).