(l) The Fund, shall be kept and administered by the Director.
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(2) The monthly contribution as specified in sub-rule · (2) of rule 5, shall be drawn out of the Panchayat Samiti Fund or ·Zila Parishad Fund, as the case may l:J.2 , . . and sh.all be creditE>d into the Fu:n,,d .. through c: bank draft by the Drawing and Disbursing Officf''r of · the Panchayat Samiti or Zila Parishad, as th :~ casei may be, not later than the ~seventh day · o~ . the · month following the month to "fwhich Uiesec:ari.l.::-ibutions relate and in the event of / any default in making contribution within the {' stipulated period, the defaulting Panchayat · Samiti or ! Zila Parishad, ds the case may be, shall pay { ; interest at the rate of ei~hteen P.~r c~er annu!!l for the period of default on the amount so ~a.
(3) All payments to be made to . the employee under these rule~; , shall be paid through the bank, as specified in sub-rule (3) and of rule 5 • . 7. Mainten.ance . of the Accounts of Funds. --The Accounts Fund sh :ill be maintained by the Director.
· The Bank through which pension is disbursed, shall :. also maintain .. the accounts as ·~ per guidelines given .. in . this behalf b y · the Director from ·time to time.