13. Continuance of employees.—(1) Every person who has been, immediately before the appointed
day, employed in any undertaking of the Company shall become,—
(a) on and from the appointed day, an employee of the Central Government, and
(b) where the undertakings of the Company are directed, under sub-section (1) of section 6, to
vest in a Government company, an employee of the Government company on and from the date of
such vesting,
and shall hold office or service under the Central Government, or the Government company, as the case
may be, with the same rights and privileges as to pension, gratuity and other matters as, would have been
admissible to him if there had been no such vesting and shall continue to do so unless and until his
employment under the Central Government or the Government company, as the case may be, is duly
terminated or until his remuneration and other conditions of service are duly altered by the Central
Government or the Government company, as the case may be.
(2) Notwithstanding anything contained in the Industrial Disputes Act, 1947 (14 of 1947), or in any
other law for the time being in force, the transfer of the services of any officer or other person employed
in any undertaking of the Company, to the Central Government or the Government company, shall not
entitle such officer or other employee to any compensation under this Act or any other law for the time
being in force and no such claim shall be entertained by any court, tribunal or other authority.
14. Provident fund and other funds.—(1) Where the Company has established a provident fund,
superannuation, welfare or other fund for the benefit of the persons employed in any of its undertakings,
the moneys relatable to the officers or other employees whose services have become transferred by or
under this Act to the Central Government or the Government company, shall, out of the moneys standing,
on the appointed day, to the credit of such provident fund, superannuation, welfare or other fund, stand
transferred to, and vest in, the Central Government or the Government company, as the case may be.
(2) The moneys which stand transferred under sub-section (1) to the Central Government or the
Government company, as the case may be, shall be dealt with by that Government or Government
company in such manner as may be prescribed.