17B. Liability in case of transfer of establishment 

Where an employer in relation to an establishment transfers that establishment in whole or in part by sale gift lease or license or in any other manner whatsoever the employer and the person to whom the establishment is so transferred shall jointly and severally be liable to pay the contribution and other sums due from the employer under any provisions of this Act or the Scheme or the Pension Scheme as the case may be in respect of the period up to the date of such transfer.

Provided that the liability of the transfer shall be limited to the value of the assets obtained by him by such transfer.