Section 53D
Election by member of the Fund to transfer his contributions
of Employees Provident Fund Act 1991
Notwithstanding section 51 and subject to the conditions and criteria as specified in the Eighth Schedule, a member of the
Fund may elect to transfer his contributions at the rate specified in the Eighth Schedule into the account of another member of the Fund who is or are his lawful wife or wives.
(2)
A member of the Fund who elects to transfer his contributions shall make an application to the Board by submitting such particulars or documents, and in such manner, as determined by the Board.
(3)
After receiving an application under subsection (2), the
Board shall transfer the contributions of the member of the Fund who elects to transfer his contributions into the account of another member of the Fund elected by him on a monthly basis or in accordance with such other period as determined by the Board subject to the availability of contributions in the account of the member of the Fund who makes the election.