Section 121
Writing off of losses.
The Code on Social Security, 2020
About this Act
An Act to amend and consolidate the laws relating to social security with the goal to extend social security to all employees and workers either in the organised or unorganised or any other sectors and for matters connected therewith or incidental thereto.
Subject to the conditions as may be prescribed by the appropriate
Government, where any of the Social Security Organisations is of the opinion that the amount of
contribution, cess, interest and damages due to it, under this Code, is irrecoverable, the concerned Social
Security Organisation may sanction the writing off of the said amount in such manner as may be prescribed
by the appropriate Government:
Provided that in the case of Provident Fund, Pension Fund or Insurance Fund, such writing off shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance Scheme, as the case may be.
Provided that in the case of Provident Fund, Pension Fund or Insurance Fund, such writing off shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance Scheme, as the case may be.