(1) On the death of a subscriber leaving behind a family — (@) If a nomination made by the subscriber in accordance with these regulations is in favour of a member Or members of his family subsists, the amount standing to his credit in the fund or the part thereof to which the nomination relates shall become payable to the nominee or nominees in the proportion specified in the nomination.
(b) If no such nomination subsists or if such nomination relates only to a part of the amount stands to his credit in the fund, the whole amount or the part thereof to which the nomination does relate, as the case may be shall become payable to members of his family in equal shares,
Provided that no share shall be payable to :- () Sons who have attained majority.
(i) daughters . EXPLANATION : For the purpose of this paragraphs a subscriber's posthumous f\h"g’ it born alive shall be treated in the same way as a surviving valid born before IS death,
(2) When the subscriber leaves no family, accordanc, o e with these regulations in favour of any person subsists, the amount anding to hig credit in the fund or the part thereof to which the nomination re.lates‘ Sha|! become payable to his nominee or nominees in the proportion specified in the ”Omlnation.
a nomination made by him in Scanned by CamScanner
(3) Inany case to which the provisions of Sub-regulations (1) and (2) do not apply that amount shall be payable to the persons legally entitled to it.
18. AGREEMENT TO BE EXECUTED BY SUBSCRIBER. Every employee on becoming a subscriber shall furnish a declaration in the following form :
“I 'hereby declare that | have read and understood the Punjab State Warehousing Corporation Employees’ Provident Fund Regulations and agree to be bound by the said Regulations.
WiItness ......coueruruennne. Signature in Full Date
19. WINDING UP OF THE FUND : The fund may be wound up if the Corporation is placed in liquidation under the order of the State Government. In that case the accumulated amount in the Fund shall be distributed amongst the subscribers in accordance with the amounts payable in their accounts.
20. PROVISION FOR RESIDUARY MATTERS. Fo Regulations, the Committee ma:
the Administration of the Fund.
r matters not provided in these y exercise such powers as may be necessary for
21. EXPENSES OF THE FUND. All expenses relating to the administration of the Fund including the pay and allowances of the staff appointed for the purpose of administering the fund shall be borne by the Corporation and shall not be charged to the Fund.
PARAMJIT SINGH Secretary to Government, Punjab.
Agriculture Department
(80) 4 Scanned by CamScanner APPENDIX | (See Regulations 4 and ) Rules 67 of the Income-Tax Rules, 1962 INVESTMENT OF FUND MONEYS. Al moneys contributed to a Provident fund (whether by the employer or b Yy the employees) or occurring b way of interest or otherwise to the fund shall be wholly invested shyay (@) wher.e the employer is not a company (as defined in clause (i) of Sub- Section (1) of Section 3 of the Companies Act, 1956) (1 of 1956), in securities of the nature specified in clauses (a), (b), (c), (d) or (e) of section 20 of the Indian Trusts Act, 18 ! 82 (2 of 1882) orin a post office Savings Bank Account in India, and where employeris a company (as defined in clause (i) of sub-section (1) of section 3 of the Companies Act, 1956 (1 of 1956) in accordance with provisions of sub-sectio n (1) of section 418 of the Companies Act, 1956 (1 of 1956). .
so, however, that in all cases the securities in which the contributions made by employees after the date of recognition of the provident fund and the interest on the accumulated balance of such contributions are invested are payable both in respect of capital and of interest in India.
SECTION 20 OF THE INDIAN TRUSTS ACT, 1882.
INVESTMENT OF TRUST MONEY :- Where the trust property consists of money and cannot be applied immediately or at an early date to the purposes of the trust the trustee is bound (subject to any direction containing in the instrument of trust) to invest money on the following securities and no others :- (@)
20.
in promissory notes, debentures, stock or other securities of any State Government or of the Central Government or of the United Kingdom of Great Britain and Ireland;
Provided that securities, both the principle whereof and the interest where on shall have been fully and unconditionally granted by any such Government shall be deemed, for the purpose of this clause, to be securities of such Government.
(b) in bonds, debentures and annuities charged or secured by the Parliament of the United Kingdom before the 15th day of August, 1947, on the revenues of India or of the Governor General in Council of any province
Provided that, after the fifteenth day of February, 1916 no money shall be invested in any such annuity being a terminable annuity unless a sipkmg 1ynd has been established in connection with such annuity; but nothing in this proviso shall apply to investments made before the date aforesaid;
h i t stock, India | i ia three and a half per cent stock, India .three per cen i | © lti}vl(l;“:md half per cent stock or any other capital stock which before tdh.e E 15th day of August 1947, was issued by the Secretary of State for India
(81) Scanned by CamScanner in council under the authority of any Act of Parliament of the Uniteg Kingdom and charged on the revenues of India or which was issued by the Secretary of State on behalf of the Governor General in council under the provision of Part XlII of the Government of India Act, 1935;
(d) in stock of debentures of, or share in, Railway or other Companies, the interest where on shall have been guaranteed by the Secretary of Stats for India in Council by the Central Government or in debentures of the Bombay Provincial Cooperative Bank Limited the interest where on shall have been guaranteed by the Secretary of State for India in Council his State Government of Bombay;
(e) in debentures or other securities for money issued, under the authority of any Central Act or Provincial Act or State Act by or, on behalf of any municipal body, or trust or city improvement trust in any Presidency town orin Rangoon Town or by or on behalf of the trustees of the port of Karachi:
Provided that after the 31st day of March, 1949, no money shall be invested in any securities issued by or on behalf of a municipal body, port trust or city improvement trust in Rangoon town or by or on behalf of the trustees of the port of Karachi; -
(f) onafirst mortgage property situated in any part of the territories to which this Act extends;
Provided that the property is not a leasehold for a term of years and that the value of the property exceeds by one-third, or, if consisting, or building exceeds by one-half the mortgage money; or () onany other security expressl by any rule which the Hi behalf;
y authorised by the instrument of trust, or gh Court may from time to time prescribe in this
Provided that, where there is person com possession to receive the income of the tru
(82) Scanned by CamScanner APPENDIX 11 FORM NO. 41 (See Regulation 6) Sg| sI JaAsydlym 000€ 'SH j0 Jeak ayy 10y Aejes 10 yig/} Buipasoxs jou uonnquiuod s,aekoldwy 10 O Buipasdxs jou a)el je pamojje g Jeak ay} 1oy Aiejes jo pig/L J0 $s90Xa UIjou 9 [ 0 | @ Ul SWiNs Uo }saJ8ju] ° c S w o ‘= £ ] 1] “ <] o 2 5] [a] Lapsed to employer to fund- Recovery for employer to fund Dol Y P > i35 D Q = H P > > H r H ) > 1 Q He] 0 H e Paid to employee..
Accountclosed .................
Date ..o jeak ay} Joy A u e j e s Jo %01 Buipeeaxa jou J e k o d w a | @ Aq uoinquiuod .9 'Jop uojsaisyul [ejoL [ ~ ‘G9 '€ 10040 [EOL | © "alnjeu juabuyuod jo y e w s uoinqguUiuod s, Jofojdw3 !
S| 1akojdws Aq uoinqujuod 1ejnbay ‘gakoldwa Ag panquiuod f e e s [ o 16 (01 "loQ) pamolje 8 q 0} S| E m c E fl w n m 4olym Uuo Junoddy Exempt Not Exempt 15 (z1 % L} '10D) swodul |30} O} SUOHIPPY 0L-€ 6-2 g + G + v [+ ght forward 14 12 13 Yiuow puetesp | —~ Contributions Balance brou April May March Total Form for maintaining account of subscriber to a Name Form for maintaining account of subscriber to a recognised provident fund recognised provident fund Scanned by Ca'mScanner
(83) Adjustment on account of temporary withdrawals account of (columns 8, 9 and 10 only) Adjustment on account of non repayable withdrawals account column 11,12 & 13).
Total carried over.
Non-repayable Withdrawal Account Temporary withdrawals Account Amount Balance brought forward April April May May June June July July March ... March Advance repayment interest Balance B/Forward Balance carried over *NOTE :If desired column may be divided into sub-columns to show separately the interest on columns 3 and 4 and 5 respectively.
APPENDIX 11l (See Regulation 12) Rule 71(4) of the Income Tax Rules, 1962