Section 47
Contributions, etc., due to corporation to have priority over other debts.
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.
Notwithstanding
anything contained in any other law for the time being in force, any amount due under this Chapter shall be
the charge on the assets of the establishment to which it relates and shall be paid in priority in accordance
with the provisions of the Insolvency and Bankruptcy Code, 2016 (31 of 2016).