ACT NOT TO APPLY TO CERTAIN CLASSES OF EMPLOYEES :
Section 32 of this Act provides that the Act shall not apply to the following classes of employees:
(i) employees employed by any insurer carrying on general insurance business and the employees employed by the Life Insurance Corporation of India;
(ii) seamen as defined in clause (42) of Section 3 of the Merchant Shipping Act, 1958;
(iii) employees registered or listed under any scheme made under the Dock Workers (Regulation of Employment) Act, 1948 and employed by registered or listed employers;
(iv) employees employed by an establishment engaged in any industry called on by or under the authority of any department of Central Government or a State Government or a local authority;
(v) employees employed by
(a) the Indian Red Cross Society or any other institution of a like nature including its branches;
(b) universities and other educational institutions;
(c) institutions (including hospitals, chambers of commerce and social welfare institutions) established not for the purpose of profit;
(vi) & (vii) …..(omitted).
(viii) employees employed by the Reserve Bank of India;
(ix) employees employed by
(a) the Industrial Finance Corporation of India;
(b) any Financial Corporation established under Section 3, or any Joint Financial Corporation established under Section 3A of the State Financial Corporations Act, 1951;
(c) the Deposit Insurance Corporation;
(d) the National Bank for Agriculture and Rural Development;
(e) the Unit Trust of India;
(f) the Industrial Development Bank of India;
(fa) the Small Industries Development Bank of India established under Section 3 of the Small Industries Development Bank of India Act, 1989;
(fb) the National Housing Bank;
(g) any other financial Institution (other than Banking Company) being an establishment in public sector, which the Central Government may by notification specify having regard to (i) its capital structure; (ii) its objectives and the nature of its activities; (iii) the nature and extent of financial assistance or any concession given to it by the Government; and (iv) any other relevant factor;
(x) ……..(omitted).
(xi) employees employed by inland water transport establishments operating on routes passing through any other country.
Apart from the above, the appropriate Government has necessary powers under Section 36 to exempt any establishment or class of establishments from all or any of the provisions of the Act for a specified period having regard to its financial position and other relevant circumstances and if it is of the opinion that it will not be in the public interest to apply all or any of the provisions of this Act thereto. It may also impose such conditions while according the exemptions as it may consider fit to impose.