Rule 67 — Terms and conditions for compliance of exempted establishment.
67(1)
The establishment to which exemption has been granted from the provisions of Chapter IV of the Code –
67(1)(a) shall maintain such records regarding the exempted employees and submit such returns and other information to the Corporation as may be specified in the regulations made under section 157; and
67(1)(b) in case of change of legal status of an establishment which has been granted exemption under section 143, due to merger, demerger, acquisition, sale, amalgamation, formation into a subsidiary, whether wholly owned or not, etc., the exemption shall be deemed to be cancelled and the establishment shall be required to apply afresh for exemption to the appropriate Government.