(I) The Fund shall be kept and. administered: by the Director, in the case of employees, who are members of a.
‘provincialised “Service and by the Regionale Deputy Director of the .concerned region in the case of employees, who are members of a nonprovincialised Service.
(2) The. monthly contribution as specified 'in-sub-rule (2) of rule 5, shall be drawn out of the Trust Fund and credited into the Fund through a bank draft by the Drawing and Disbursiag Officer, of tke trust not later than the Seventh day of the month following the month to which these contributions relate and in the event of any default in making contribution within the'stipilated period, the defaulting trust shall pay interest - ot ‘the rate of eighteen per cent per annum for the period of default on the amount so defaulted.
(I-‘:). All payments to be made the employees under these rtules, shall be paid through 2 bank, as specified in sub-rule (3) of rule 5, . 7. Maintenance of accounts ‘of Fnmd.-—(1) The accounts of the- Fund shall be maintained . by the . authorities specified in Appendix ‘A’ and the Bank through which pension is disbursed, may also be required to keep the accounts as per guidelines and instructions issued from time to time in this behalf by the Goverument.
(2) The Government may issue directions #rom time to time for maintaining the Fund and for investing the amount of Fund in Government securities so as to earn- maximum interest.
8. General Provision relating to gean:i of pension. . (1) For the pirpase of all grant of pension to the emplogees, the tules relating to pension as ‘contained in the Punjab Civil Services Rules, Volume IE shall apply mutatis mutandis to the employees of the trusts also and for that purpose the terms and expressions not otherwise defined in these rules, shall have the same meaning as assigned to them in the Ponjab Civil Services Rules, Volume I, Part T
(2) After completion of the . pension papers of the retiringemployees in the form and manner specified in the Punjab Civil Services Rules, Volume II as amended from time to time, -the Executive Officer.
-of the concerned trust shall send the same to the Examiner,for veritication of qualifying service and emoluments for-the purpose of gran, of pension. .
PUNJAB GOVT. GAZ. (EXTRA.), JULY 29, 1994 283 (SRVN. 7, 1916 SAKA)
(3) The FJ(ammer, after necessary vsuflchtwn, shall send " the pension papers to the concerned sanctioning authonty as shownm Appendix ‘A’ for sanction of pension. i (4} While sanclioning pension, the sancticning authonty shall ensure that the contribution of the employee for the period reckoned for pension, hes been duly credited to the Fund