law: Employees’ State Insurance Act, 1948
  39. Contributions
  (1) The contribution payable under this Act in respect of an
  
  employee shall comprise contribution payable by the employer (hereinafter
  
  referred to as the employer's contribution) and contribution payable by the
  
  employee (hereinafter referred to as the employee's contribution) and shall be
  
  paid to the Corporation.
   67  [(2) The contributions shall be paid at such rates as may
  
  be prescribed by the Central Government:
  PROVIDED  that the rates so prescribed shall not be more
  
  than the rates which were in force immediately before the commencement of the
  
  Employees’ State Insurance (Amendment) Act, 1989.]
   68  [(3) The wage period in relation to an employee shall be the
  
  unit in respect of which all contributions shall be payable under this Act.]
  (4) The contributions payable in respect of each 69[wage
  
  period] shall ordinarily fall due on the last day of the 69[wage
  
  period], and where an employee is employed for part of the 69[wage
  
  period], or is employed under two or more employers during the same 69[wage
  
  period], the contributions shall fall due on such days as may be specified in
  
  the regulations.
   4  (5)(a) If any contribution payable under this Act is not
  
  paid by the principal employer on the date on which such contribution has
  
  become due, he shall be liable to pay simple interest at the rate of twelve per
  
  cent per annum or at such higher rate as may be specified in the regulations
  
  till the date of its actual payment:
  PROVIDED  that higher interest specified in the
  
  regulations shall not exceed the lending rate of interest charged by any
  
  scheduled bank.
  (b) Any interest recoverable under clause (a)
  
  may be recovered as an arrear of land revenue or under sections 45C to 45-1.
  Explanation:  In this sub-section, "scheduled
  
  bank" means a bank for the time being included in the Second Schedule to
  
  the Reserve Bank of India Act, 1934 (2 of 1934).]