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Section 38: Determination of the period of ten months for average emoluments

Corporation Bank (Employees’) Pension Regulations, 1995Central Regulations · 1970

(1) The period of the preceding ten months for the purpose of average emoluments shall be reckoned from the date of retirement.

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(2) In the case of voluntary retirement or premature retirement the period of the preceding ten months for the purpose of average emoluments shall be reckoned from the date on which the employee voluntarily retires or is premature retired by the Bank.

(3) In the case of dismissal or removal or compulsory retirement or termination of service the period of the preceding ten months for the purpose of average emoluments shall be reckoned from the date on which the employee is dismissed or removed or compulsorily retired or terminated by the Bank.

(4) If during the last ten months of the service an employee had been absent from duty on extraordinary leave on loss of pay or had been under suspension and the period whereof does not count as service, the aforesaid period of extraordinary leave or suspension shall not be taken into account in the calculation of the average emoluments and an equal period before the ten months shall be included.

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CHAPTER VII FAMILY PENSION

Where this provision sits

ActCorporation Bank (Employees’) Pension Regulations, 1995
Section38
Marginal noteDetermination of the period of ten months for average emoluments
JurisdictionCentral
StatusIn force as published by the source

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