Rule 55. Manner of utilization of fund under sub-section (3) of section 83

Every employer who has retrenched a worker or workers under this Code, within ten days, at the time of retrenching a worker or workers shall electronically transfer an amount equivalent to fifteen days of last drawn wages of such retrenched worker or workers in the account (name of the account shall be displayed on the official website of Labour and Employment Department and Labour Commissioner Jammu and Kashmir). The fund so received shall be transferred by the Jammu and Kashmir Government to each worker or workers' account electronically within forty-five days of receipt of funds from the employer and the worker shall utilize such amount for his re-skilling. The employer shall also submit the list containing the name of each worker retrenched the amount equivalent to fifteen days of wages last drawn in respect of each worker along with their bank account details to enable the Jammu and Kashmir Government to transfer the amount in their respective account.