(1) For the purpose of payment of peasion, there shall be established 2 Fund to be Xnown as Pension Fund (h3rainafter referred toas the Fund). - (2 In the case of employees who are members [of provincialise service, the Fund shall bs established by the Direclor, 4nd in the case ofemployee who are members ofa 'non-provisGialiséd serviee, the Fund shall b¢ established bythe concerned Regional Deputy Director, - S- ‘Transfer of amount t the Fund—(1) The share of money- contributed by the committee along with- interest, acorued thereon standing inthe Contributory Provident Fund account to the Creditofan. employee ofa committee, who opts for these rules or whois ggverped by these ritles, shallstand transferred fo the Fund to the extent it was contributed by the committee during the period of service of the employee glongwith any loss caused to the contribution either” by the committeo of bythé employee through witharawal auring the tenure of service of . eoncerned region in the case of employees, @@;4‘ 200, PUNIAB GOVT. GAZ., (EXTRA.), JULY 29, 1994 < (SRVN.7, 1016 SARAS ¢ the employee or due to anyother reason which shall be ‘made good by the committee ot theemployee, as the-case may be * by paying the amount alongwithinterest due for that period to the Fund.. =
(2) The committee shall make montly contribution towards.the Fund at the rate of ten per cent of the basic Dy of the employee. The rate of monthly contribution shall be subject to any change which may be made by the Government from time to time, e . éfi' Operation of Fund.—(f) The Fund shay] be kept aud \ admini- Stere by the Director! in the case of employees, who are membersrof @ provincialised™ service and by the Regional Deputy Director of the erned who-are members of a non- provincialised service, hall(%) The monthly contribution as specified in sub-rule (2) of ryle 5, g " on e . all(3) All payments to be made to the employees under these rulés, " sl be paid’ through a bank, as specified in sub-rule (3) of g'\‘fle, 5.
in” this behalf " by the Government.
() The Government may issue directions from time to time for -maintaining the Fund and for - investing the amount of Fund:in Government Securities so as to earn maximum - interest. .-, .
8 vGenemi_ Provisions relating to grant. of Pension —(1) For - the, purpose of grant of pension to the employees, the rules relating to Dehsion for that purpose the terms and expressions not otherwise defined jn these: rules,* shall have the same meaning as, assigned to el in. the Pu;_:uab_ @ vA.fier comple'tinn' of the pension papers of the reti'rin.g emplayes: the form and manner, specified in the Punjab Civil Services Rulgs, N PUNJAB GOVT. GAZ, . TRA, JULX:29; (004 .
) _(snw.’vfmfm SAKA) .
Volumn 11 as amended from timo totinne, Bxesutive Officer of the doncerned committee skl send the same to the Examiner, for verification of qualifying service and-emoluments for the purpose of &rant of pension, R (3) The: Examiner, aftey n8Cessary. verification; shall: sénd: the Pagsion Dbapers to the cbncernéd-sanctioning authotity as shown in Appeqnix - A’ for sanotion of pension
(4)~‘Whfle sanctioning pension, the sanctioning' authority shal ensurs ..,