2. Insertion of new sections 2A, 2B, 2C and 2D to the Employees’ Provident Fund (Special Provisions) Law…

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

The Employees’ Provident Fund (Special Provisions)

Law, No. 6 of 1975 (hereinafter referred to as the “principal enactment”) is hereby amended by the insertion of the following new sections immediately after section 2 of the aforesaid Law which shall have effect as sections 2A, 2B, 2c and 2D thereof :—

2A. Where an employer or employee pays a contribution to the approved provident fund established under the Employees’

Provident Fund Act, No. 15 of 1958, during the period commencing on February 1, 1996 and ending on the date of the coming into operations of this Act, such contribution shall be deemed to have validly deducted, made or paid to the Fund.

2B. (1) A person who becomes an employee in any covered employment, on or after the date of coming into operation of this Act (hereinafter referred to as the “relevant date”), shall be entitled to receive superannuation benefits by way of a pension fund or scheme, as may be agreed by the employers and employees, which

“Validation.

Approval for more beneficial superannuation benefits.

Employees’ Provident Fund (Special Provisions)

are more beneficial than the Employee’s

Provident Fund established under the

Employees’ Provident Fund Act, if the

Commissioner of Labour is satisfied that the proposed pension fund or scheme satisfies the requirements prescribed under the

Employee’s Provident Fund Act, No. 15 of 1958.

In such a case, the Commissioner of Labour shall declare such fund or scheme to be respectively, an approved contributory pension fund or scheme.

(2)

Where the Commissioner of Labour declares in terms of subsection (1), the fund or scheme to be an approved contributory pension fund or scheme, with effect from the relevant date, all contributions payable and collected to such fund or scheme shall be deemed to have been validly made.

2C. (1) For the avoidance of doubts, it is hereby declared that the provisions of section 2 shall not apply to the providing or securing of superannuation benefits during any period prior to February 1, 1996 or to any employer or employee in relation to the period specified in section 2A.

(2)

Where an employee becomes a member of, or has paid a contribution to, any provident fund, pension fund or any other superannuation fund or scheme, other than the Employees’

Provident Fund established under the

Employees’ Provident Fund Act, No. 15 of 1958, such membership and payments shall be deemed to be validly made from the date on which the employee becomes a member or pays a contribution, as the case may be.

Avoidance of doubts.

Employees’ Provident Fund (Special Provisions)

Continuation of contribution to any approved provident fund &c,.

2D. For the avoidance of doubts it is hereby further declared that from and after the date of the coming into operation of this Act, it shall be lawful—

(a)

for an employer or employee who prior to the commencement of this Act, had made a contribution to any approved provident fund, pension fund or any other superannuation fund or scheme, other than the Employees’ Provident

Fund established under the Employees’

Provident Fund Act, No. 15 of 1958, to continue to contribute to such fund or scheme; and

(b)

for an employer or employee to contribute to any approved provident fund, pension fund or any other superannuation fund or scheme, other than the Employee’s Provident Fund established under the Employees’

Provident Fund Act, No. 15 of 1958, after the commencment of this Act.”.

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