(1) ' The share of · mo 1:1ey : · contributed· by a Panchayat ~ Parishad as the _ case may be, alongw1th interest accrued ' thereon, standing in the Contributory Provident _Fund Account to the cr~dit ·of an employee of a Panchayat Samiti 'or a Zila Parishad~ who opts for these rules, or . who is governed by these rules, ,.shall stan·d transferred to the Fund during . the - period of service of _th_e said employee.
444 PUNT AB GOVT .GAZ., JULY 28, 2000 (SRVN 6, 1922 SAKA) ~ t" ~ (2) ThE. F anchayat Samiti or Zila Parishad;
, \' b\ the case may be, shall make monthly . contributio11 \1f-..J¥./\ . towards. the fund at the rate of t~elve · per cent . o~ .. l,{'<-'~ the . basic pay . ::if the employee. The rate ~of monthly · ~..f" '' ~J. 'contribution shall be subject to any c'hange, · which ,O~- C\. may be made bv the Government from time to time.
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(3) The arnottnt of the Fund shall be kept in any branch of a Nationalised Bank or ... a Scheduled . Bank, as . the c~.se may be or_ as may be specified by the Director.