Meeting of the Board

(1) The Board shall meet as often as may be necessary and shall, subject to the provisions of sub-sections (2) and (3), observe such rules of procedure in regard to transaction of business at its meetings as may be provided by regulations. (2) The Chairman shall preside over the meeting of the Board. (3) All questions at any meeting of the Board shall be decided by a majority of the members present and voting. (4) The minutes of the meetings shall be recorded. (1) A person, who for the purpose of avoiding any payment to be made by him under this Act or under the scheme, or of enabling any other person to avoid such payment, knowingly makes or causes to be made any false statement or false representation, shall be punishable with imprisonment for a term, which may extend to three months, or with fine, which may extend to five hundred rupees or with both. (2) Any person who contravenes or makes default in complying with any of the provisions of this act or of the scheme; shall, if no other penalty is elsewhere provided by or under this act, for such contravention or non compliance, be punishable with imprisonment for a term which may extent to two months or with fine which may extent to four hundred rupees, or with both. (3) No court inferior to that of a Judicial Magistrate of the First Class shall try any offence punishable under this act. (4) No Court shall take cognizance of any offence punishable under this Act except on a report in writing of the facts constituting such offence made with the previous sanction of the Chief Executive Officer. (i) Every employee shall contribute to the Fund. (ii) Every employer shall contribute to the Fund. (iii) The procedure for collection and management of the contribution is as prescribed by the Government.