118. Exemptions.- Nothing in this Act shall apply— (a) to any trade union registered under the Indian Trade Unions Act 1926 (16 of 1926); or (b) to any provident fund to which the provisions of the Provident Funds Act, 1925 (19 of 1925), apply; or (c) if the Central Government so orders in any case, and to such extent or subject to such conditions or modifications as may be specified in the order, to any insurance business carried on by the Central Government or a Government company as defined in Section 617 of the Companies Act, 1956 (1 of 1956);or (d) if the Authority so orders in any case, and to such extent or subject to such conditions or modifications as may be specified in the order, to— (i). any approved superannuation fund as defined in Clause (a) of Section 58 N of the Indian Income tax Act, 1922 (11 of 1922); or (ii). any fund in existence and officially recognized by the Central Government before the 27th day of January, 1937 maintained by or on behalf of Government servants or Government pensioners for the mutual benefit of contributors to the fund and of their dependents or (iii). any mutual or provident insurance society composed wholly of Government servants or of railway servants which has been exempted from any or all of the provisions of the Provident Insurance Societies Act, 1912 (5 of 1912) | 
