(1) Every officer shall become a member of the Provident Fund constituted by the Bank and shall agree to be bound by the rules governing such Fund.
(2) The Bank shall contribute to the Provident Fund in accordance with the rules governing the Provident Fund from time to time, provided that the amount contributed by it shall not be more than, i) 10% of 80% of pay from 1.11.87 to 31.12.88;
ii) 10% of 90% of pay from 1.1.89 to 31.12.89;
ii i) 10% of pay from 1.1.90 onwards.
* Provided that the pay, under revised scales effective from the 1st day of July, 1993, shall apply for Provident Fund Contributions effective from the 1st day of November, 1993.
** Provided further that on and from the ‘Notif ied Date’ [as defined in the Export-Import Bank of India (Employees’) Pension Regulations, 2000], -
(a) in case of an officer governed by the Pension Scheme, contribution to the Provident Fund shall be made only by the officer at the rate of 10% of pay without any matching contribution on the part of the Bank; and
(b) in case of an officer not governed by the Pension Scheme, contribution to Provident Fund by the officer and a matching contribution by the Bank shall be made at the rate of 10% of pay.
** (3) Officers joining the Bank’s services on or after the Notif ied Date shall be governed by the Pension Scheme.
Provided that the following categories of officers shall not be covered by the Pension Scheme :
(a) an officer who was in service of the Bank prior to the Notif ied Date, unless he has specifically exercised an option to become member of the Pension Scheme in response to Bank’s notice to that effect; and
(b) an officer who is recruited on or after the Notif ied Date at the age of 35 years and above, and who has elected to forego his right to Pension in terms of the Pension Scheme.
33 Note : ‘Pay’ for the purpose of Provident Fund shall mean basic pay, professional qualif ication allowance and increment component of f ixed personal allowance.
* Effective from 1.11.1993 ** Effective from 20.9.2000 GRATUITY :
39.* (1) Every officer shall be eligible for gratuity on :
(a) retirement;
(b) death during his service;
(c) disablement rendering him unfit for further service as certif ied by a medical officer approved by the Bank;
(d) resignation after completing ten years of continuous service;
(e) termination of service by the Bank in any other way except by way of punishment after completion of ten years of service.
(2) The amount of gratuity payable to an officer shall be one month’s pay for every completed year of service, subject to a maximum of 15 months’ pay.
Provided that where an officer has completed more than 30 years of service, he shall be eligible by way of gratuity for an additional amount at the rate of one half of a month’s pay for each completed year of service beyond thirty years.
Provided further that an officer, who has been absorbed in Exim Bank’s service from the Development Bank or any other institutions approved in this behalf by the Chairman & Managing Director, shall be eligible for the gratuity at the rate provided herein above for the period of his service in Development Bank or any such institution prior to the date of his absorption in the Exim Bank provided he had not been paid gratuity for such period by his parent institution.
EXPLANATION:
For the purpose of this regulation, ‘Pay’ shall mean last drawn pay or payable to the officer concerned, save that in the case of officers who became eligible for gratuity during the period from the 1 st day of July, 1993 to 31 st day of October, 1994 (both days inclusive), ‘Pay’ shall mean the last drawn pay under Scales of Pay as revised with effect from 1st November, 1987.
* Effective from 1.11.1993 34
CHAPTER VIII OTHER PROVISIONS TRANSFERABILITY:
40. Every officer is liable for transfer to any office or branch of the Bank or to any place in India. An officer shall be liable for transfer to anywhere outside India with his consent.
DUTIES :
41. Every officer shall be available for Bank’s duties at any time of the day.
CONDUCT AND DISCIPLINE:
42. Every officer shall serve the Bank honestly, faithfully, diligently, maintain good conduct and discipline in a manner worthy of an officer of the Bank, and shall also be bound by the regulations governing the conduct and discipline as may be framed by the Board from time to time.
OBLIGATION AS TO FIDELITY AND SECRECY: