Section 120 Code on Social Security, 2020

 

 Section 120  Code on Social Security, 2020 :

Section 120   National Social Security Board and State Unorganised Workers’ Board. 

 Holding of property, etc., by social security organisation.

(1) A Social Security Organisation (except Corporation) may, subject to such conditions as may by Social Security Organisation be prescribed by the appropriate Government, acquire and hold property, both movable and immovable, sell or otherwise transfer any movable or immovable property which may have become vested in or have been acquired by it and do all things necessary for such purposes and for the purposes for which the said Social Security Organisation is established.

(2) Subject to such conditions as may be prescribed by the appropriate Government, a Social Security Organisation may, from time to time invest any moneys vested in it, which are not immediately required for expenses properly defrayable and may, subject to as aforesaid, from time to time re-invest or realise such investments:

Provided that in case of Provident Fund, Pension Fund or Insurance Fund, such investment, reinvestment or realisation shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance Scheme, as the case may be.

(3) Each of the Social Security Organisations (except Corporation) may, with the previous sanction of the appropriate Government and on such terms as may be prescribed by such Government, raise loans and take measures for discharging such loans.

(4) Each of the Social Security Organisations (except Corporation) may, with the previous sanction of the appropriate Government and on such terms as may be prescribed by such Government, constitute for the benefit of its officers and staff or any class of them, such provident or other benefit funds as it may think fit:

Provided that in case of officers and staff of the Central Board, such terms shall be specified in the Provident Fund Scheme.

Section 120  The Code on Social Security, 2020 in Hindi / कोड ऑन वेजेस / धारा 120  सामाजिक सुरक्षा संहिता 2020 [ सोशल सिक्‍योरिटी कोड 2020 ] का विवरण : - 

https://hi.prsindia.org/files/bills_acts/bills_parliament/2020/Code%20on%20Social%20Security,%202020%20Bill%20Text%20Hindi.pdf

Supreme Court of India Important Judgments And Leading Case Law Related to Section 120  Social Security Code 2020 :  Not Yet Available

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