TMI BlogPrescribed conditions for the purposes of sub-clause (iii) of clause (B) of sub-section (2) of section 115WB.X X X X Extracts X X X X X X X X Extracts X X X X ..... 115WB, the non-transferable pre-paid electronic meal card (hereinafter called the card ) shall fulfill the following conditions, namely:- (i) The card shall be granted by the employer to its employees under a scheme framed by the employer specifying therein the circumstances under which the meal card can be used by the employee. (ii) The card under clause (i) shall be issued by the issuin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ired under the Act for any other similar transaction. Explanation.- for the purposes of this rule,- (i) banking company shall have the same meaning as assigned to in clause (viii) of sub-section (1) of section 36 of the Act; (ii) issuing bank means a banking company- (a) which issues the card to the employees of an employer in pursuance to an agreement entered into with the emplo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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