Section 4 in The Life Insurance Corporation of India (Employees) Pension Rules, 1995
4. Option to subscribe to the Provident Fund.
(1)Notwithstanding anything contained in sub-rule (4) of rule 3, an employee who joins the service of the Corporation 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 rules shall not apply to him.(2)The option referred to in sub-rule (1) and in rule 3, once exercised, shall be final.Chapter - III The Fund
