Welfare Fund

(1) The State Government shall constitute a Fund called the 1[Karnataka Labour Welfare Fund]

and notwithstanding anything contained in any other law for the time being in force or in any contract or instrument, all unpaid accumulations shall be paid to the Board, which shall keep a separate account therefor until claims thereto have been decided in the manner provided in section 7, and the other sums specified in sub-section (2) shall be paid into the Fund. 1. Adapted by the Karnataka Adaptations of Laws Order 1973 w.e.f. 1.11.1973

1. (2) The Fund shall consist of,-
   • (a) all fines realised from the employees;
   • (b) all unpaid accumulations transferred to the Fund under section 7; 1[(bb) the contribution paid under section 7A;
   • (bbb) any penal interest paid under section 7B.]
   • (c) any voluntary donations;
   • (d) any fund transferred under sub-section (5) of section 8; and
   • (e) any sum borrowed under section 9.
2. (3) The sums specified in sub-section (2) shall be collected by such agencies and in such manner and the accounts of the Fund shall be maintained and audited in such manner as may be prescribed.

¹ Inserted by Act 73 of 1976 w.e.f. 8.10.1976