Section 80
Commutation of half-monthly payments.
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.
Any right to receive half-monthly payments may, by
agreement between the parties or, if the parties cannot agree and the payments have been continued for not
less than six months, on the application of either party to the competent authority be redeemed by the
payment of a lump sum of such amount as may be agreed to by the parties or determined by the competent
authority, as the case may be.