Section 120: Holding of property, etc., by Social Security Organisation
Reviewed by Finin2min Editorial Desk · Last reviewed 30 August 2026
Section 120 — Governs holding of property, etc., by social security organisation and the rights, duties, powers or procedure expressly stated in this section. Key operative text: (1) A Social Security Organisation (except Corporation) may, subject to such conditions as may by Social Security Organisation be prescribed by the appropriate Government, acquire and hold property, both movable and immovable,…
The Code was commenced in stages: section 142 had earlier commencement, S.O. 5319(E) brought the specified provisions into force from 21 November 2025, and later commencement instruments must be read with the current India Code footnotes for the remaining clauses.
Provision / India Code ↗ · Official Act PDF ↗ · 2026 Central Rules ↗
Finin2min analysis — what the section actually does
Operative clauses
- (1) A Social Security Organisation (except Corporation) may, subject to such conditions as may by Social Security Organisation be prescribed by the appropriate Government, acquire and hold property, both movable and immovable, sell or otherwise transfer any movable or immovable property which may have become vested in or have been acquired by it and do all things necessary for such purposes and for the purposes…
- (2) Subject to such conditions as may be prescribed by the appropriate Government, a Social Security Organisation may, from time to time invest any moneys vested in it, which are not immediately required for expenses properly defrayable and may, subject to as aforesaid, from time to time re-invest or realise such investments:
- Provided that in case of Provident Fund, Pension Fund or Insurance Fund, such investment, re- investment or realisation shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance Scheme, as the case may be.
- (3) Each of the Social Security Organisations (except Corporation) may, with the previous sanction of the appropriate Government and on such terms as may be prescribed by such Government, raise loans and take measures for discharging such loans.
- (4) Each of the Social Security Organisations (except Corporation) may, with the previous sanction of the appropriate Government and on such terms as may be prescribed by such Government, constitute for the benefit of its officers and staff or any class of them, such provident or other benefit funds as it may think fit:
Provisos, explanations & qualifications
- Provided that in case of Provident Fund, Pension Fund or Insurance Fund, such investment, re- investment or realisation shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance Scheme, as the case may be.
- Provided that in case of officers and staff of the Central Board, such terms shall be specified in the Provident Fund Scheme.
Thresholds and timelines in the text
- No explicit day/month/year/hour/percentage/rupee expression was detected in this section text.
Actors expressly appearing in the text
Appropriate Government, Corporation / EPFO / Board
Full statutory text — Section 120
120. Holding of property, etc, by Social Security Organisation.—(1) A Social Security Organisation
(except Corporation) may, subject to such conditions as may by Social Security Organisation be prescribed
by the appropriate Government, acquire and hold property, both movable and immovable, sell or otherwise
transfer any movable or immovable property which may have become vested in or have been acquired by
it and do all things necessary for such purposes and for the purposes for which the said Social Security
Organisation is established.
(2) Subject to such conditions as may be prescribed by the appropriate Government, a Social Security
Organisation may, from time to time invest any moneys vested in it, which are not immediately required
for expenses properly defrayable and may, subject to as aforesaid, from time to time re-invest or realise
such investments:
Provided that in case of Provident Fund, Pension Fund or Insurance Fund, such investment, re-
investment or realisation shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance
Scheme, as the case may be.
(3) Each of the Social Security Organisations (except Corporation) may, with the previous sanction of
the appropriate Government and on such terms as may be prescribed by such Government, raise loans and
take measures for discharging such loans.
(4) Each of the Social Security Organisations (except Corporation) may, with the previous sanction of
the appropriate Government and on such terms as may be prescribed by such Government, constitute for
the benefit of its officers and staff or any class of them, such provident or other benefit funds as it may think
fit:
Provided that in case of officers and staff of the Central Board, such terms shall be specified in the
Provident Fund Scheme.How to apply this provision
- Primary statutory test — (1) A Social Security Organisation (except Corporation) may, subject to such conditions as may by Social Security Organisation be prescribed by the appropriate Government, acquire and hold property, both movable and immovable, sell or otherwise transfer any movable or immovable property which may have become vested in or have been acquired by it and do all things necessary for such purposes and for the purposes…
- Additional operative limb — (2) Subject to such conditions as may be prescribed by the appropriate Government, a Social Security Organisation may, from time to time invest any moneys vested in it, which are not immediately required for expenses properly defrayable and may, subject to as aforesaid, from time to time re-invest or realise such investments:
- Qualification / exception to test — Provided that in case of Provident Fund, Pension Fund or Insurance Fund, such investment, re- investment or realisation shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance Scheme, as the case may be.
- Central Rule mapping — 50. Read the mapped provision together with this text rather than treating the concordance as a substitute for it.
- Evidence file — retain facts and records proving the role/status of: Appropriate Government, Corporation / EPFO / Board.
Rules, forms and cross-references
Direct 2026 Central Rule mapping
Forms mapped
No prescribed form is directly mapped in the current concordance.
Other sections cited in this text
Related Labour Hub resources
A direct concordance is not exhaustive. Central/State jurisdiction, schemes, authority appointments, saved instruments and later notifications may change the practical route without changing the section wording.
Worked example
For a worker/member seeking a benefit connected with holding of property, etc., by social security organisation, the file should show coverage, service/contribution facts, the rule/scheme and prescribed form, and the calculation/payment. One statutory point to test is: “(1) A Social Security Organisation (except Corporation) may, subject to such conditions as may by Social Security Organisation be prescribed by the appropriate Government, acquire and hold property, both movable and immovable, sell or otherwise transfer any movable or immovable p” Also test the express qualification/proviso before concluding the result. Read the mapped Central Rule(s) 50.
Illustration only; it is not statutory text or a substitute for applying the actual facts, jurisdiction, current rule/scheme and official instrument.
Q&A — Section 120
What does Section 120 of the Social Security Code cover?
Section 120 — Governs holding of property, etc., by social security organisation and the rights, duties, powers or procedure expressly stated in this section. Key operative text: (1) A Social Security Organisation (except Corporation) may, subject to such conditions as may by Social Security Organisation be prescribed by the appropriate Government, acquire and hold property, both movable and immovable,…
What is the main legal requirement or power in Section 120?
The first operative clause identified from the official text is: “(1) A Social Security Organisation (except Corporation) may, subject to such conditions as may by Social Security Organisation be prescribed by the appropriate Government, acquire and hold property, both movable and immovable, sell or otherwise transfer any movable or immovable property which may have become vested in or have been acquired by it and do all things necessary for such purposes and for the purposes…” Read it with the remaining subsections and any proviso below.
Does Section 120 contain a proviso or explanation?
Yes. A qualification extracted from the official text is: “Provided that in case of Provident Fund, Pension Fund or Insurance Fund, such investment, re- investment or realisation shall be specified in the Provident Fund Scheme or Pension Scheme or Insurance Scheme, as the case may be.”
What time limit, percentage or amount appears in Section 120?
No explicit day/month/year/hour/percentage/rupee expression was detected in the official section text.
Which 2026 Central Rules are linked to Section 120?
The current concordance maps Section 120 to Central Rule(s) 50.
Is Section 120 currently operative?
The Code was commenced in stages: section 142 had earlier commencement, S.O. 5319(E) brought the specified provisions into force from 21 November 2025, and later commencement instruments must be read with the current India Code footnotes for the remaining clauses.
Source & verification trail
Act: Code on Social Security, 2020 — official India Code PDF ↗
Central Rules: Social Security (Central) Rules, 2026 — G.S.R. 344(E), 8 May 2026 ↗
Official library: Ministry of Labour & Employment — Labour Codes ↗
Source check: 20 August 2026. Individual professional interpretation should be re-reviewed when the section, rules, notification, scheme, State overlay or controlling judgment changes.