4. The following new section is hereby inserted immediately after section 37, and shall have effect as section 37A of the principal enactment:
| 37A. Where an employer, who is required by the Act or any regulation made there under or any direction issued by the Board, to furnish a return relating to contributions, has failed to furnish that return within the period specified therein, or has furnished an incorrect or deficient return and is unable to explain to the satisfaction of the Board or an officer authorized in that behalf by the Board the reason for the failure to furnish the return within that period, or to furnish an accurate or complete return, as the case may be, he shall be liable to pay to the fund a surcharge at the rate of one per cent of the amount of the contribution to which the return relates for every completed month or part thereof from the last date on or before which the return was due to the date of receipt by the Board of a duly completed and correct return. ". |
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Sri Lanka Consolidated Acts