FCEPGPF Rules 7

Section 7 · Operation of pension fund

(1)

The Pension fund shall be held and administered by the Chief Administrator, Faridabad Complex Administration, Faridabad.

(2)

The monthly contributions as specified in sub-rule (2) of rule 6 shall be drawn out of the Administration Fund and credited into the Pension Fund through Bank draft by the Drawing and Disbursing Officer of the Administration but not later than the 7th day of the month following the month to which these contributions relate. In case of default in making contribution within the stipulated period, the defaulting Administration shall pay interest at the rate prescribed by the Government from time to time for the period of default on the defaulted amount.

(3)

Pension fund shall be utilised only for the payment of pension.

(4)

All payments to be made to the employees under these rules shall be paid through a Bank/Post Offices as specified in sub-rule (3) of rule 6.

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