Rule 40. Manner of dealing with the undisbursed dues under clause (b) of sub-section (1) of section 44

(1) The amount referred to in sub rule (1) of rule 39 (hereinafter in this rule referred to as the amount) deposited with the Deputy Labour Commissioner having jurisdiction shall remain with him and be invested in the Central or State Government Securities or deposited as a fixed deposit in a scheduled bank.

(2) The Deputy Labour Commissioner having jurisdiction will exhibit, as soon as maybe possible, a notice containing such particulars regarding the amount as the Deputy Labour Commissioner considers sufficient for information at least for fifteen days on the notice board and also publish such notice in any two newspapers being circulating in the language commonly understood in the area in which undisbursed wages were earned.

(3) Subject to the provision of sub-rule (4), the Deputy Labour Commissioner having jurisdiction shall release the amount to the nominee or to that person who has claimed such amount, as the case may be, in whose favour Deputy Labour Commissioner has decided, after giving the opportunity of being heard, the amount to be paid.

(4) If the undisbursed amount remains unclaimed for a period of seven years, the Deputy Labour Commissioner shall transfer the said amount to the (Bihar State Labour Welfare Fund or any other existing fund) constituted under the applicable State law, to be utilized for the welfare of labour."