(1) The Chairperson or a Member who at .the date of his appointment to the Commission was in the service of the Central or State, Government and who had been admitted to the benefits of General Provident Fund or Contributory Provident Fund. May continue to, subscribe to that Fund until the date on which he retires according to rules applicable to him, in his service. In the case of the Contributory Provident Fund, the employers' contribution payable to that Fund' shall as from the date of the Chairperson or Member's appointment to the Commission be payable by the Commission during the tenure of appointment as such Chairperson or Member.
Explanation I.-A Member exercising his option under this sub-rule shall communicate his option in writing to the President during his tenure as “such Member and the option so exercised shall be final”.
Explanation II.-If a Member exercising his option has received any benefits of Contributory Provident Fund on retirement from service under the Central or State Government; he shall not become eligible for pension under these rules unless he refunds in Jump sum the Government contribution to that Provident Fund with interest thereon together with other retirement benefits, if any.
(2) The Chairperson or a Member who at the time of his appointment as such Member,-
(i). was in the service of the Central or State Government or of a local, body, or any other authority wholly or substantially owned or controlled by Government and who opts, or had opted, to draw his pension and other retirement benefits under the rules applicable to the service to which he belonged prior to such appointment, or.
(ii).had retired from service under the Central or State Government, a local body or other authority wholly or substantially owned or controlled by Government and who does not opt, or had not opted, to come under-the pension scheme under these, rules, or
(iii).was not in the service of the Central or State Government, a local body or any other authority wholly or substantially owned by Government and either does not become entitled to any pensionary benefits under these rules or opts not to come under the pension scheme under these rules, shall be entitled to be admitted to the benefit of the Contributory Provident Fund Scheme and for this purpose shall be governed by the Contributory Provident Fund (India) Rules, 1962 as amended from time to time.