Section 44: Pension or gratuity liability fund

BIS Rules 2018Central Rules · 2016

(1) The Bureau shall maintain a pension or gratuity liability fund.

(2) The Fund shall be utilised for the payment of pension, gratuity and commuted value of pension only and no appropriation shall be made out of this fund.

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(3) The corpus of the fund shall be on the basis of actuarial valuation and shortfall shall be made through the appropriation of the surplus from income and expenditure account or transfer from the fund of the Bureau.

(4) An annual contribution based on actuarial valuation shall be made to the fund and charged to income and expenditure account of the Bureau.

(5) The Investment of the fund shall be made in accordance with rule 41.

(6) The custody, operation and maintenance of the records of the fund shall be in such a manner as may be authorised by the Director General.

Where this provision sits

Act	BIS Rules 2018
Section	44
Marginal note	Pension or gratuity liability fund
Jurisdiction	Central
Status	In force as published by the source

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