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Section 121 - Code on Social Security Act, 2020
121. Writing off of losses.-
Subject to the conditions as may be prescribed by the appropriate Government, where any of the Social Security Organisations is of the opinion that the amount of contribution, cess, interest and damages due to it, under this Code, is irrecoverable, the concerned Social Security Organisation may sanction the writing off of the said amount in such manner as may be prescribed by the appropriate Government:
Provided that in the case of Provident Fund, Pension Fund or Insurance Fund, such writing off shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance Scheme, as the case may be.
Related Sections
- Section 142: Application of Aadhaar
- Section 132: Application of certain provisions of Income-tax act
- Section 149: Power of central Government to give directions to state government and social security organizations
- Section 37: References to medical board
- Section 133: Penalty for failure to pay contributions, etc
Related Acts
* Only for reference.