Section 2 in Nagaland Rural Bank (Employees') Pension Regulations, 2018
2. Definitions.
(1)In these regulations, unless the context otherwise requires, -(a)"Act" means the Regional Rural Banks Act, 1976 (21 of 1976);(b)"actuary" shall have the meaning assigned to it in clause (1) of section 2 of the Insurance Act, 1938 (4 of 1938);(c)"average emoluments" means the average of the pay drawn by an employee during the last ten months of his service in the Bank;(d)"Bank" means Nagaland Rural Bank established under sub-section (1) of section 3 of the Act;(e)"Board" means the Board of Directors of the Bank;(f)"child" means a child of the employee, who if a son, is under twenty-five years of age and if a daughter, is unmarried and is under twenty-five years of age and the expression "children" shall be construed accordingly;(g)"competent authority" shall have the same meaning as assigned to it in the Nagaland Rural Bank (Officers and Employees) Service Regulations, 2010;(h)"contribution" means any sum credited by the Bank on behalf of employee to the Fund, but shall not include any sum credited as interest;(i)"date of retirement" means the last date of the month in which an employee attains the age of superannuation or the date on which he is retired by the Bank or the date on which the employee voluntarily retires;(j)"employee" means any person employed in the service of the Bank, whether as a workman on full time work on permanent basis or on part-time work on permanent basis on scale wages or as an officer and who opts and is governed by these regulations, but does not include a person employed either on contract basis or daily wage basis or on consolidated wages;(k)"effective date" means the 1st day of April, 2018;(l)"eligible employee" means an employee who is eligible for pension under these regulations;(m)"employees' pension scheme, 1995" means the Employees' Pension Scheme constituted under the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (19 of 1952);(n)"family" in relation to an employee means,-(i)wife in the case of a male employee or husband in the case of a female employee (whether the marriage took place before or after retirement);(A)unmarried sons or unmarried daughters (born before or after retirement including those adopted) who have not attained the age of twenty-five years;(B)unmarried sons or unmarried daughters suffering from any disorder or disability of mind or physically crippled;(iv)widowed daughters or divorced daughters (born before or after retirement) without any age restriction;(v)parents who were wholly dependent on the employee when such employee was alive, subject to the following conditions:(A)the diseased employee had left behind neither a widow or widower nor an eligible son or daughter or a widowed or divorced daughter and that the earnings of the parents is less than two thousand five hundred and fifty rupees per month.(B)where the diseased employee has left behind a childless widow, they become eligible for family pension only after the death of childless widow or when her independent income from all other sources becomes equal to or higher than two thousand five hundred and fifty rupees per month;(ii)a judicially separated wife or husband, such separation not being granted on the ground of adultery and the person surviving was not held guilty of committing adultery;(iii)(o)"family pension" means the family pension referred to in regulation 37;(p)"financial year" means a year commencing on the 1st day of April;(q)"Fund" means the "Nagaland Rural Bank (Employees') Pension Fund" constituted under regulation 4;(r)"National Pension System" means the National Pension System as defined in clause (i) of sub-section (1) of section 2 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013);(s)"notified date" means the date on which these regulations are published in the Official Gazette;(t)"pay" means the basic pay including stagnation increments, if any, and all allowances counted for the purpose of making contributions to the Provident Fund and for the payment of dearness allowance;(u)"pension" means the class of pension as specified in Chapter V and includes family pension;(v)"pensioner" means an employee eligible for pension under these regulations;(w)"qualifying service" means the service rendered on regular basis which shall be taken into account for the purpose of pension under these regulations;(x)"retirement" means cessation from Bank's service,-(i)on attaining the age of superannuation as specified in the service regulations;(ii)on voluntary retirement in accordance with provisions contained in regulation 28;(iii)on premature retirement by the Bank before attaining the age of superannuation in accordance with provisions contained in regulation 30;(y)"Service Regulations" means the Nagaland Rural Bank (Officers and Employees) Service Regulations, 2010;(z)"trust" means the trust of Nagaland Rural Bank (Employees') Pension Fund constituted under sub-regulation (1) of regulation 4;(za)"trustee" means the trustees of the Nagaland Rural Bank (Employees') Pension Fund constituted under regulation 4;(zb)"Provident Fund" means the provident fund of the Bank.(2)All other words and expressions used in these regulations but not defined, and defined in the Act or the Nagaland Rural Bank (Officers and Employees) Service Regulations, 2010 shall have the same meanings respectively assigned to them in the Act, or as the case may be, the Nagaland Rural Bank (Officers and Employees) Service Regulations, 2010.
