Vesting and application of Fund

(1) The Fund shall vest in and be held and applied by the Board as trustees subject to the provisions and for the purposes of this Act. (2) The moneys therein shall be utilized by the Board to defray the cost of carrying out measures which may be specified by the State Government from time to time to promote the welfare of employees. (3) Without prejudice to the generality of the foregoing, the moneys in the Fund may be utilized for: (a) community and social education centres; (b) vocational training; (c) community necessities; (d) entertainment and other forms of recreation; (e) convalescent homes; (f) holiday homes; (g) nutritious food for children of employees; (h) employment of daily employment; (i) activity for the welfare of women; (j) pre-schools; (k) reading rooms and libraries; (l) games and sports; (m) cost of administering the Act. (4) If any question arises whether any particular expenditure is or is not incurred on the objects specified in this section, the decision of the State Government shall be final. (5) The Board may, with the approval of the State Government, make grants from the Fund to any employer, any local authority or any other body in aid of any activity for the welfare of employees. (1) All unpaid accumulations shall be deemed to be abandoned property. All unpaid accumulations, whether before or after the commencement of this Act, shall be paid to the Board and be credited to the Fund and the Board shall keep a separate account therefor until claims thereto have been decided in the manner provided in section 8. (2) Any employer who is required to pay any unpaid accumulations or any fine as such to the Board shall pay such accumulations or fine to the Board or to such officer as may be authorised by the Board in this behalf. (3) The notice for payment of the unpaid accumulations or fines shall be given by the Board by displaying it at a conspicuous place of the establishment and in any other manner as may be prescribed, and any claim received from any employee regarding the unpaid accumulations shall be disposed of by the Board in the manner prescribed. (4) The payment of unpaid accumulations or fines by the employer to the Board shall be a full discharge of his liability to the employees in respect of such unpaid accumulations or fines. (5) Before making any payment of such unpaid accumulations or fines to the Board, the employer shall display on the notice board of the establishment a list of all unpaid accumulations or fines of the employees and if no claim is received within the prescribed period, the employer shall pay the same to the Board.