FSUU 53Chapter VI · Constitution of Pension Gratuity, Insurance and Provident Fund for the Benefit of Officers, Teachers and other Employees

Section 53 · Insurance

(1)

Only such employee of the University who was formerly insured by the Insurance Department of the Government of Rajasthan under the Rajasthan State Insurance Rules, during the tenure of his service under the State Government shall be eligible to the benefits of Insurance under these Statutes.

(2)

It shall be at the discretion of the insured employee to continue to maintain his policy by payment of premiums regularly.The premiums may be paid direct into the Treasury by means of challans creditable to the appropriate head or it shall lie recoverable by the comptroller from the salary of the employee concerned and remitted to the Treasury for being credited to the appropriate head.

(3)

The insured employee will be governed by the Rajasthan State Insurance Department Rules and Regulations as may be applicable to the Rajasthan Government Servants from time to time.[54. Provident Fund. - (1) There shall be established a Provident Fund to be called Udaipur University Provident Fund but hereinafter to be referred to as the Provident Fund for the benefit of the permanent employees of the University.

(2)The management of the Provident Fund shall vest in the Executive Committee, which may, from time to time, make regulations or issue such general or special directions as may be consistent with the Statutes as to (a) conduct of the business of the Fund and (b) any matter relating to the Fund, or its management or the privileges of the depositors not herein expressly provided for, or vary or cancel any regulations made or directions given:Provided that there shall be a Provident Fund Committee consisting of the Vice-Chancellor, the Registrar, the Comptroller and in addition, two members to be appointed by the Executive Committee, two subscribers to the Provident Fund to be nominated by the Vice-Chancellor for the purpose of advising the Executive Committee in matters relating to investments, payments and other matters in respect of Provident Fund.

(3)Conditions of subscriptions:

(i)Every employee of the University holding a permanent substantive appointment or appointed for a fixed period of not less than three years or who has put in three years continuous temporary service with the University shall be entitled or requires to subscribe so the Provident Fund except those teachers who were entitled to pension benefits in Government before transfer [provided this will not apply to employees under a temporary scheme unless there is a provision for Provident Fund under the scheme itself.]

(ii)Persons appointed on probation to a substantive appointment will be entitled to subscribe to the Provident Fund but if their services are terminated before their confirmation they will not be entitled to receive any portion of the University contribution or the interest thereon.

(iii)No employee of the University shall be entitled to the benefits of the provident fund whose services in the University entitle him to a pension or on whose account the University contributes to his pension, or who has been appointed by the University on a consolidated salary on special terms.

(iv)Every employee of the University entitled to the benefits of the Provident Fund shall be required to sign a written declaration in the prescribed form that he has read these Statutes and agrees to abide by them.

(4)

Nominations:

(i)

Each subscriber shall file in the office of the University a declaration in Form 7 signed by him and attested by 2 witnesses stating the name or names of the persons whom he desires that in the event of his death or becoming an insane the whole or any part of the accumulation standing to his credit shall be paid or the manner in which such accumulations shall be disposed of.

(ii)

The subscriber may add to or change his nominee or nominees by a written application duly witnessed by any two persons and presented to the Comptroller.

(iii)

A register of the nominee or nominees of the subscriber, including all changes in or additions to the said nominees shall be kept by the Comptroller.

(iv)

If a subscriber nominates more than one person he shall specify in the nomination the amount for share payable to each of the nominees in such a manner as to cover the whole of the amount that may stand to his credit in the Provident Fund at any time.

(v)

A subscriber may, at any time, cancel nomination by sending a notice in writing to the Comptroller:

Provided that a subscriber shall along with such notice send a fresh nomination in accordance with the provisions of these Statutes.

(vi)

A subscriber may provide in the nomination:-

(a)

In respect of any specified nomination, that in the even of his pre deceasing the subscriber the right conferred upon that nominee shall pass to such other person or persons as may be specified in the nomination :

Provided that such other person or persons shall, if the subscriber has other members of his family, be such member or members.

(b)

That the nomination shall become invalid in the event of happening of a contingency specified therein:

Provided that if, at the time of making the nomination the subscriber has no family, he shall provide in the nomination that it shall become invalid in the event of his subsequently acquiring family:Provided further that is, at the time of making nomination the subscriber has only one member of the family, he shall provide in the nomination that right conferred upon the alternate nomination under part (a) of sub-clause (vi) shall become invalid in the event of his subsequently acquiring other member or members of his family.

(vii)

Immediately on the death of a nominee in respect of whom any special provision has been made in the nomination under part (a) of sub-clause (vi) above or on the occurrence of any event by reason of which the nomination becomes invalid in pursuance of part (b) of sub-clause (vi) above or the provisions thereto, the subscriber shall send to the Comptroller a notice in writing cancelling the nomination, together with fresh nomination made in accordance with the provisions of these Statutes.

(viii)

Every nomination made by a subscriber shall, to the extent that it is valid, take effect on the date on which it is received by the Comptroller.

(5)

The rate of subscription shall be 8 1 /3% of the basic pay and the amount calculated on this basis shall be deducted from the monthly pay of each employee. Provided that a subscriber may at his option, subscriber at a rate higher than 8 1/3% of his basic pay and the amount calculated on this basis will be deducted from the monthly salary of the subscriber.Note. -No subscription or contribution shall be made to the Provident Fund or for the benefit of an employee who is on leave without pay.

(a)

It shall be a policy effected by the subscriber himself on his own life and shall (unless it is a policy expression the face of it to be for the benefit of his wife, or of his wife and children or any of them) be such as as may be legally assigned by the subscriber himself to the University.

(b)

A policy on the joint lives of the subscriber and his wife shall be considered a policy on the life of the subscriber himself.

(c)

A policy which has been assigned to the subscriber's wife shall not be accepted, unless either the policy is first reassigned to the subscriber or both the subscriber and his wife join in an appropriate assignment.

(d)

The policy may not be effected for the benefit of any beneficiary other than the wife of the subscriber or the wife and children or any of them.

(e)

A subscriber shall be liable to refund any amount withdrawn towards the payment of insurance premium if the Executive Committee later on has any reasons therefor, with interest thereon at the rate allowed on the P.F. account and the amount so recovered from the emoluments of the subscriber shall be placed to the credit of subscriber in the fund.

(6)

The University shall in the case of each subscriber make a monthly contribution at the rate of 10% of his basic pay in the case of employees drawing a basic pay up to Rs. 500/-. In case of those drawing more than Rs. 500/- p.m. the University contribution shall be at the rate of 8 1/3%:Provided that in the case of a teacher who is on study leave and subscribes the full amount to his Provident Fund at the prescribed rate the University shall also make full contribution at the prescribed rate irrespective of the amount of salary actually drawn by the teacher during the period of study leave.

(7)

The amount liable to be subscribed on contributed shall be expressed in full rupees. When the calculation involves paise amounting to less than fifty paise, the paise shall be ignored and if the amount is fifty paise or more, full rupee shall be calculated.

(8)

(i)

The subscription paid by a subscriber and the contribution paid by the University shall be entered monthly in a separate account for each subscriber.

(ii)

The investment of the amount to the credit of subscriber shall be permissible in Government Securities or Unit Trust Certificates or in a fixed deposit with a scheduled bank approved by the Executive Committee. The F.D. Receipt and the securities purchased shall be in the joint names of the Comptroller and the [Registrar] [Substituted vide Resolution No. 5, dated 5-5-1974 approved by the Chancellor vide No. F. 1 (68) Gnl. GSR. 74/2985. dated 10-6-1974.] and shall be kept in the custody of the Comptroller.

(iii)

The balance of the P.F. Account at the credit of the subscribers shall be deposited by the University in the Post Office Savings Bank or Scheduled Banks, or invested in Government Securities as may be approved from time to time by the Provident Fund Committee.

(iv)

Interest at the rates determined for the purpose by the Provident Fund Committee, from time to time shall be credited to each subscriber's account, at the close of the financial year. Total interest earned shall be so distributed.

(v)

A statement of the total amount at the credit of each subscriber shall be furnished to him once at the beginning of each year.

(vi)

The P.F. Committee may on conditions hereinafter enumerated, permit the payment of premium on life insurance policy or policies on the life of a subscriber out of the Provident Fund account.

(9)

A subscriber at the termination of his service shall be entitled to receive the amount which accumulates to his credit:Provided that the University shall be entitled to recover as the first charge from the amount for the time being at the credit of any subscriber a sum equivalent to the amount of outstanding dues of the University or any loss or damage at any time sustained by the University by reason of his dishonesty or negligence, but not exceeding in any case the total amount of contribution credited to his account by the University and of any interest which has accrued to such contribution.

(10)

On a subscriber's death or insanity the amount at his credit shall be paid to the person or persons duly nominated by him, or, when no such nomination is made, to his legal heir or heirs.In case the amount at the credit of the subscriber is less than Rs. 500/- the Executive Committee may order the payment on satisfactory proof of the claimant title without production of a succession certificate.

(11)

(i)

Withdrawal from the Provident Fund shall not be allowed until the retirement or termination of subscriber's service or death or insanity provided that a temporary withdrawal from the Fund out of his own subscription may be sanctioned by the Vice Chancellor or duly authorised officer as a special case to a subscriber in the following cases: -

(a)

Illness of the applicant and such members of his family as are dependent on him for livelihood and maintenance.

(b)

For going abroad for reasons of health of the applicant his wife/husband, children dependent on him/her.

(c)

To pay obligatory expenses in connection with marriages, funerals or other ceremonies, which by virtue of the religion of the subscriber the applicant is required to perform.

(d)

To meet the cost of his defence where the applicant is prosecuted by the University in a court of law in respect of any alleged official misconduct on his/her part.

(e)

To pay arrears of Income-tax, Government dues and Degree passed by the Court on production of necessary demand notice or documents.

(f)

To build or purchase a house for his residential purposes including the cost of plot of land or to repay any outstanding loan expressly taken for this purpose before the date of receipt of the application for withdrawal but not earlier than twelve months of the date, or to reconstruct or to make additions or alterations to a house already owned or purchased or acquired by him.

(g)

For education of self and dependents for academic, technical, professional courses.

(h)

For purchase of conveyances according to status of the subscriber.

(i)For any other expenses of urgent necessity to be decided by the Vice-Chancellor.

(ii)

An advance shall not exceed the following ceiling limits:-

(a) When sanctioned for any of the objects mentioned insub-clauses (a), (c), (d), (e) and (i) of clause (1).	Three months basic pay of the subscriber.
(b) When sanctioned for objects mentioned in sub-clauses (b),(f), (g), (h) of clause (1).	Twelve months basic pay of the subscriber.

(iii)

Recoveries towards the amount advanced shall be made in monthly installments not exceeding twenty four in respect of advance sanctioned for the objects mentioned in sub-clauses (a), (c), (d), (e), (g), and (i) of clause (1) and not exceeding 72 monthly installments in respect of advance sanctioned for any of the objects mentioned in sub-cLause (b), (f) and (h) of clause (1).

(iv)

Recovery of advance shall be made from the salary of a subscriber and shall commerce on the first occasion, after the advance is made, on which the subscriber draws salary for a full month provided no recovery shall be made from a subscriber when he is on leave otherwise than on full salary.

(v)

A second advance shall not be granted till the repayment in full of the previous advance.

(12)

Provident Fund to be free from certain debts etc.-Any sum standing to the credit of any subscriber of the Fund at the time of his death, termination of his services or insanity and payable to him or to any dependent of the subscriber or to such persons as may be authorised by law to receive payment on his behalf shall, subject to any deductions authorised by the Statutes, vest in the dependent and shall be free from any debt or other liability incurred by the deceased or incurred by the dependent before death or insanity of the subscriber.Note. -The word "Subscriber" wherever it occurs in this Statute, means the amount paid by the subscriber and the word "Contribution" means the amount contributed by the University.]

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