Rule – 91, Beneficiary not to have any interest in insurance and employer not to have any interest in fund’s moneys

Published by Law@HostBooks at Last Updated on August 9th, 2018 at 4:22 pm Published on March 28, 2018

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91. (1) No beneficiary shall have any interest in any insurance policy taken out by the trustees under the rules of a fund and he shall be entitled only to an annuity from the fund.

(2) No money belonging to the fund shall be receivable by the employer under any circumstances nor shall the employer have any lien or charge on the fund.

Reference: www.incometaxindia.gov.in