20. Subscription and maintenance of General Provident Fund Account.
(1)The employees who were appointed on or after the commencement of the Scheme and also the other existing employees who opt for the Scheme shall contribute towards the General Provident Fund at the rate prescribed by the Punjab Government for their employees. An employee may, however, subscribe voluntarily at higher rate than that prescribed by the Punjab Government. The fund shall be regulated in accordance with the rules and procedure to be prescribed by the Punjab Government from time to time.(2)The date of switching over for the existing employees to General Provident Fund shall be fixed by the Director. The Managing Committee shall maintain the General Provident Fund Account.
