Act not to apply to certain classes of employees.

32.   Nothing in this Act shall apply to—

  (i)    [***] 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 (44 of 1958);

(iii)  employees registered or listed under any scheme made under the Dock Workers (Regulation of Employment) Act, 1948 (9 of 1948), and employed by registered or listed employers;

 (iv)  employees employed by an establishment engaged in any industry carried on by or under the authority of any department of the 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 purposes of profit;

 (vi)   [***]

(vii  [***]

(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 (63 of 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 (39 of 1989);]

[(ff) the National Housing Bank;]

(g) any other financial institution [(other than a banking company) being an establishment in public sector, which the Central Govern­ment may, by notification in the Official Gazette, 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) [* * *]

(xi) employees employed by inland water transport establishments operating on routes passing through any other country.