FCEPGPF Rules 6

Section 6 · Transfer of amount to the pension fund

(1)

The share of money along with interest standing in the Contributory Provident Fund Account to the credit of an employee of the Administration who opts or who is governed by these rules, shall stand transferred to the pension fund to the extent it was contributed by the Administration during the period of service of an employee alongwith any loss caused to the contribution of the Administration through withdrawal during the service which shall be made good by the employee by paying the amount along with interest due for that period to the pension fund.

(2)

The Administration shall make monthly contributions towards the pension fund at the rate of 10 per cent of the basic pay of all Administration employees who opt for pension under this scheme.

(3)

The money of pension fund shall be kept in a Nationalised Bank or Haryana Co-operative Bank or Post Office and would be suitably invested in Government security so as to earn the maximum interest.

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