(1) The option under clause (ii) of sub-rule (3) of Rule 1 to elect to be governed by these rules, shall be exercised in the Form appended to these rules so as to reach the competent authority within a period of four months from the date of publication of these rules in the Official Gazette :
Provided that, -
(a) in the case of an employee who on the date of publication of these rules 2 Punjab Municipal Corp.Empl.Pension &Gen. Prov. Fund Rules,1994, Rule 2
1. Inserted by Punjab Notification No. G.S.R.22/P.A.42/1976/Ss. 71 and 397/Amd.(3)/2007 dated
24.7.2007.
was on leave, the option shall be exercised within a period of four months from the date of joining his duty after returning from leave;
(b) where an employee is under suspension on that date, the option shall be exercised within a period of four months from the date he joins his duty; and
(e) in case of an employee, who dies without exercising his option within the stipulated period, he shall be deemed to have opted for these rules;
(2) The employees, who opt for these rules, shall cease to avail the benefit of Contributory Provident Fund and the employees who opt out of these rules, shall continue to avail the benefit of Contributory Provident Fund.
Rule 4