Clause 10
Amendment of section 10
of Central Provident Fund (Amendment) Bill
BillNot in forceProvision 10 of 17
Clause 10
Section 10 of the principal Act is hereby amended by deleting subsection (2) thereof and substituting therefor the following: —“(2) The Board shall cause to be credited to each member of the Fund —
(a)
the amount of every contribution paid to the Fund for him; and
(b)
interest at the rate declared under subsection (3) of section 5 of this Act at such intervals as the Board may prescribe and on the amount standing to his credit in the Fund at such time as the Board may determine.”.