GAIL (India) Limited MECON LIMITED

extent of reduced premium amounts.CONTRACTOR as far as possible shall cover insurance with IndianInsurance Companies, including marine Insurance during oceantransportation.i) EMPLOYEES STATE INSURANCE ACT:The CONTRACTOR agrees to and does hereby accept fulland exclusive liability for the compliance with all obligationsimposed by the Employee State Insurance Act 1948 andthe CONTRACTOR further agrees to defend, indemnifyand hold EMPLOYER harmless for any liability or penaltywhich may be imposed by the Central, State or Localauthority by reason of any asserted violation byCONTRACTOR or SUB-CONTRACTOR of theEmployees' State Insurance Act, 1948, and also from allclaims, suits or proceeding that may be brought against theEMPLOYER arising under, growing out of or by reasons ofthe work provided for by this CONTRACTOR, by thirdparties or by Central or State Government authority or anypolitical sub- division thereof.The CONTRACTOR agrees to fill in with the Employee'sState Insurance Corporation, the Declaration Forms, andall forms which may be required in respect of theCONTRACTOR's or SUB- CONTRACTOR's employees,who are employed in the WORK provided for or thosecovered by ESI from time to time under the Agreement.The CONTRACTOR shall deduct and secure theagreement of the SUB- CONTRACTOR to deduct theemployee's contribution as per the first schedule of theEmployee's State Insurance Act from wages and affix theEmployees Contribution Card at wages payment intervals.The CONTRACTOR shall remit and secure the agreementof SUB-CONTRACTOR to remit to the State Bank of India,Employee's State Insurance Corporation Account, theEmployee's contribution as required by the Act. TheCONTRACTOR agrees to maintain all cards and Recordsas required under the Act in respect of employees andpayments and the CONTRACTOR shall secure theagreement of the SUB- CONTRACTOR to maintain suchrecords. Any expenses incurred for the contributions,making contributions or maintaining records shall be to theCONTRACTOR's or SUB-CONTRACTOR's account.The EMPLOYER shall retain such sum as may benecessary from the total VALUE OF CONTRACT until theCONTRACTOR shall furnish satisfactory proof that allcontributions as required by the Employees StateInsurance Act, 1948, have been paid. This will be pendingon the CONTRACTOR when the ESI Act is extended tothe place of work.ii) WORKMEN COMPENSATION ANDEMPLOYER'S LIABILITY INSURANCE:Insurance shall be effected for all the CONTRACTOR'semployees engaged in the performance of thisCONTRACT. If any of the work is sublet, the