Act not to apply to certain classes of employees

Act not to apply to certain classes of employees.- Nothing in this Act shall apply to--

1. (i) employees employed by any insurer carrying on general insurance business and the employees employed by the Life Insurance Corporation of India;
2. (ii) seamen as defined in clause (42) of section 3 of the Merchant Shipping Act, 1958 (44 of 1958);
3. (iii) employees registered or listed under any scheme made under the Dock Workers (Regulation of Employment) Act, 1948 (9 of 1948), and employed by registered or listed employers;
4. (iv) employees employed by an establishment engaged in any industry carried on by or under the authority of any department of the Central Government or a State Government or a local authority;
5. (v) employees employed by--

1. (a) the Indian Red Cross Society or any other institution of a like nature (including its branches);
2. (b) universities and other educational institutions;
3. (c) institutions (including hospitals, chambers of commerce and social welfare institutions) established not for purposes of profit;
   • (vi) employees employed through contractors on building operations;
   • (viii) employees employed by the Reserve Bank of India;
   • (ix) employees employed by--
4. (a) the Industrial Finance Corporation of India;
5. (b) any Financial Corporation established under section 3, or any Joint Financial Corporation established under section 3A, of the State Financial Corporations Act, 1951 (63 of 1951);
6. (c) the Deposit Insurance Corporation;
7. (d) the National Bank for Agriculture and Rural Development;
8. (e) the Unit Trust of India;
9. (f) the Industrial Development Bank of India;
10. (fa) the Small Industries Development Bank of India established under section 3 of the Small Industries Development Bank of India Act, 1989 (39 of 1989);
11. (ff) the National Housing Bank;
12. (g) any other financial institution (other than a banking company) being an establishment in public sector, which the Central Government may, by notification in the Official Gazette, specify, having regard to--
    • (i) its capital structure;
    • (ii) its objectives and the nature of its activities;
    • (iii) the nature and extent of financial assistance or any concession given to it by the Government; and
    • (iv) any other relevant factor;
    • (xi) employees employed by inland water transport establishments operating on routes passing through any other country.