12. Employment of certain employees to continue.—(1) Every person who has been, immediately
before the appointed day, employed in any of the undertakings 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 the Cement Corporation, an employee of that Corporation on and from the date of such
vesting,
and shall hold office or service under the Central Government or the Cement Corporation, 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 Cement Corporation, 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 Cement Corporation, 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 Cement Corporation shall not
entitle such officer or other employee to any compensation under this Act or under any other law for the
time being in force and no such claim shall be entertained by any court, tribunal or other authority.
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(3) Where, under the terms of any contract of service or otherwise, any person, whose services
become transferred to the Central Government or the Cement Corporation by reason of the provisions of
this Act, is entitled to any arrears of salary or wages or any payments for any leave not availed of or any
other payment, not being payment by way of gratuity or pension, such person may enforce his claim
against the Company, but not against the Central Government or the Cement Corporation.
13. Provident fund and other funds.—(1) Where the Company has established a provided fund,
superannuation fund, welfare fund or any other fund for the benefit of the persons employed in any of the
undertakings of the Company, the monies relatable to the officers or other employees, whose services
have become transferred, by or under this Act, to the Central Government or the Cement Corporation,
shall, out of the monies standing, on the appointed day, to the credit of such provident fund,
superannuation fund, welfare fund or other fund, stand transferred to, and vest in, the Central Government
or the Cement Corporation, as the case may be.
(2) The monies which stand transferred under sub-section (1) to the Central Government or the
Cement Corporation, as the case may be, shall be dealt with by that Government or that Corporation in
such manner as may be prescribed.