Section 39B in The Employees' Pension Scheme, 1995
39B. [ Transfer value. [ Inserted by G.S.R. 430(E), dated 19.5.2003 (w.e.f. 23.5.2003).]
- In case exemption is granted to any establishment or in the case of a member being transferred from pension fund of one exempted establishment to another pension fund of exempted establishment or statutory pension fund or vice versa, a transfer value payment will be made which will consist of the following:(a)Withdrawal benefit relating to past service period upto 15-11-1995 as per Table A multiplied by Table B factor for the period between 16-11-1995 to the date of exemption/transfer, and(b)Transfer value for pensionable service as per Table E for the service rendered from 16-11-1995 or from the date of joining the establishment to the date of exemption/transfer, as the case may be.(c)In the event of cancellation of exemption granted under Para 39, transfer of fund will be made as per the conditions mentioned in the exemption notification.]
