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Section 4: Option to subscribe to the Provident Fund

UCO Bank (Employees’) Pension Regulation, 1995Central Regulations · 1970

(1) Not withstanding anything contained in sub-regulation (4) of regulation 3, an employee who joins the service of the Bank on or after the notified date at the age of thirty-five years or more, may, within a period of ninety days from the date of his appointment, elect, to forego his right to pension, whereupon these regulations shall not apply to him.

(2) The option referred to in sub-regulation (i) and regulations 3, once exercised, shall be final.

(3) There shall be no separate Provident Fund for employees joining services of the bank on or after 1.4.2010.

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CHAPTER III THE FUND

Where this provision sits

ActUCO Bank (Employees’) Pension Regulation, 1995
Section4
Marginal noteOption to subscribe to the Provident Fund
JurisdictionCentral
StatusIn force as published by the source

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