Unpaid accumulations and claims thereto

(1) Any unpaid accumulation deposited in the Fund shall, on publication of a notice in the Gazette under this Act, vest in the Board as if the unpaid accumulations were abandoned property and upon such vesting of any such unpaid accumulation, all liability of the employer to pay the said unpaid accumulation to the employee shall be deemed to have been discharged. (2) Any creditor or any employee may, within the prescribed period, make a claim for any compensation or other benefit out of the unpaid accumulations, and the Board shall decide such claim in such manner as may be prescribed. (3) If the Board is satisfied that any such claim is valid, the Board shall pay it to the claimant. (1) The State Government may appoint a Welfare Commissioner who shall be the Chief Executive Officer of the Board. (2) The State Government may also appoint such other officers and employees as may be considered necessary for the efficient performance of the functions of the Board. (1) If an employer does not pay to the Board any amount of unpaid accumulations or lines realised from the employees, or the amount of the employer's and employee's contribution under Section 9 within the time he is required by or under the provisions of this Act to pay it, the Welfare Commissioner may cause to be served a notice on the employer to pay the amount within the period specified therein, which shall not be less than thirty days from the date of service of such notice. (2) If the employer fails without sufficient cause, to pay such amount within the period specified in the notice he shall, in addition to that amount, pay to the Board simple interest— for the first three months at (One and a half per cent) of the said amount for each complete month after the last date by which he should have paid it according to the notice; and at (Two per cent) of that amount for each complete month thereafter during the time he continues to make default in the payment of that amount. the statement to be submitted to the State Government by the Welfare Commissioner under sub-section (8) of Section 9 shall be in Form 'B'. the statement to be submitted to the State Government by the Welfare Commissioner under sub-section (8) of Section 9 shall be in Form '8'.