- PARTICULARS TO BE FURNISHED BY AN EMPLOYEE
MAINTENANCE OF ACCOUNTS AND RECORDS BY THE AUTHORISED OFFICER
- An employee eligible for pension under the provisions of sub-paragraphs (1) and (3) of paragraph 4, shall within a period of three hundred and sixty six days from the Appointed day or date of joining, as the case may be submit to his employer the particulars of his family members in triplicate in Form PS-3 and nomination in triplicate in Form P.S-4 which after proper verification and due attestation shall be forwarded by the employer to the concerned authorised officer.
- An employee who opts for pension under the provisions of sub-paragraphs (2) and (4) of paragraph 4, shall submit to his employer the particulars of his family members in triplicate in Form PS-3 and nomination in triplicate in Form PS-4 while exercising the option which after proper verification and due attestation shall be forwarded by the employer to the concerned authorised officer.
- Where an employee eligible for pension under the provisions of the Scheme does not have a wife / husband at the time of making the nomination he may indicate the 'name and particulars of the guardian of his minor son or daughter for the purpose of receiving the benefits under the provisions of the Scheme.
- Whenever there is any change in the particulars submitted by an employee under the provisions of sub-paragraph (1),(2) and (3), he shall intimate the same to his employer who within a period of seven days from its receipt shall forward the same after verification and attestation to the concerned authorised 'officer
- At the time of making the nomination if an employee is having a family, the nomination shall be made only in favour of one or more members belonging to his family. A nomination made by an employee in favour of any person other than his family member shall become invalid on his acquiring a family.
CALCULATION OF CONTRIBUTIONS
- The authorised officer shall be responsible for maintenance of proper accounts, records and Registers of the Pension Fund in such form as may be specified by the Commissioner from time to time.
- The authorised officer shall be the sanctioning authority for the purpose of pension and other benefits under the provisions of the Scheme and shall also be responsible for disbursement of the same.
RESPONSIBILITIES OF THE EMPLOYER
- The rate of increment referred to in clause (d) of paragraph 3 in respect of time-rated or piece-rated category of employee shall be twenty six times of his daily rate of increment.
- Where an employee exercises his option under the provisions of sub-paragraph (2) of paragraph 4 and is unable to deposit in full the amounts referred to in that sub-paragraph on or before the date of his superannuation, the amount of his pension shall be reduced by an amount calculated on the basis specified in Schedule-1.
- Where the amount of Pension fund referred to in clauses (c) and (d) of paragraph 3 had not been deducted from the salary of the employee by an employer till the appointed day or had been deducted in part or in full but not remitted to the Commissioner on or before the appointed day, such amount shall be remitted to the Commissioner within a period of one hundred and twenty days from the appointed day and an interest of twelve percent per annum accrued on such amount as on the appointed day shall have also to be remitted by the employer to the Commissioner.
- Any amount to be paid into or out of the Pension Fund shall be calculated to the nearest rupee, fifty paise or more to be counted as the next higher rupee and fraction less than fifty paise to be ignored.
- In case no contribution to the pension fund is payable in a week or fortnight or month, only because of rounding off under sub-paragraph (4), the week or fortnight or month, 'as the case may be, shall not be excluded from the period of pensionable service. In case of weekly-paid employee, the number of weeks for which there is contribution . to the Pension Fund shall be divided by four and in the case of fortnightly paid employee, the number of fortnights shall be divided by two to arrive at the number of months for which there is contribution to the Pension Fund. Fraction of a month so determined shall be rounded off by treating half or more as a complete month, ignoring fraction less than half
- Every employer of the employee shall submit to the Commissioner on or before the 30th day of every month a return of contributions for the preceding month towards the Pension Fund along with the 'detail^/contributions towards provident fund in Form P.S-5.
- Every employer shall be responsible for payment of the amount equivalent to one and one sixth percent of the salary of the employee to be transferred from the Fund as employer's share in terms of clause (b) of paragraph 3 and the same shall not be deducted from the-salary or other benefits of the employee.
1 Corrigenda No. GSR 269(E) dated the 25th May 1998. 3 Notification No. GSR 218(E) dated >22nd March 1999.