law: Employee's Provident Funds Miscellaneous Provisions Act, 1952
  11. Priority of payment of contributions over
  
  other debts
  (1) Where any employer is adjudicated in
  
  solvent or, being a company, an order for winding up is made, the amount due
  (a) from the employer
  
  in relation to [an establishment] to which any [Scheme or the insurance Scheme]
  
  applies in respect of any contribution payable to the Fund [or, as the case may
  
  be, the Insurance Fund], damages recoverable under section 14B, accumulations
  
  required to be transferred under sub-section (2) of section 15 or any charges
  
  payable by him under any other provision of this Act or of any provision of the
  
  
  [Scheme or the
  
  Insurance Scheme]; or
  (b) from the employer
  
  in relation to an exempted [establishment] in respect of any contribution to
  
  the provident fund or any insurance fund] (in so far as it relates to exempted
  
  employees), under the rules of [the provident fund or any insurance fund] [any
  
  contribution payable by him towards the [Pension] Fund under sub-section (6) of
  
  section 17,] damages recoverable under section 14B or any charges payable by
  
  him to the appropriate Government under any provision of this Act under any of
  
  the conditions specified under section 17, shall where the liability therefor
  
  has accrued before the order of adjudication or winding up is made, be deemed
  
  to be included] among the debts which under section 49 of the Presidency Towns
  
  Insolvency Act, 1909, or under section 61 of the Provincial Insolvency Act,
  
  1920, or under [section 530 of the Companies Act, 1956], are to be paid in
  
  priority to all other debts in the distribution of the property of the
  
  insolvent or the assets of the company being wound up, as the case may be.
  [Explanation: In this sub-section
  
  and in section 17, "insurance fund" means any fund established by an
  
  employer under any Scheme for providing benefits in the nature of life insurance
  
  to employees, whether linked to their deposits in provident fund or not,
  
  without payment by the employees of any separate contribution or premium in
  
  that behalf.]
  [(2) Without prejudice to the provisions of sub-section (1), if any amount is due from an employer, [whether in respect of the employee's contribution (deducted from the wages of the employee) or the employer's contribution], the amount so due shall be deemed to be the first charge on the assets of the establishment, and shall, notwithstanding anything contained in any other law for the time being in force, be paid in priority to all other debts.]