State of Punjab - Act
Punjab Privately Managed Recognized Aided Schools Retirement Benefits Scheme, 2012
PUNJAB
India
India
Punjab Privately Managed Recognized Aided Schools Retirement Benefits Scheme, 2012
Rule PUNJAB-PRIVATELY-MANAGED-RECOGNIZED-AIDED-SCHOOLS-RETIREMENT-BENEFITS-SCHEME-2012 of 2012
- Published on 1 August 2012
- Commenced on 1 August 2012
- [This is the version of this document from 1 August 2012.]
- [Note: The original publication document is not available and this content could not be verified.]
1. Short title and commencement.
2. Definitions.
- In this Scheme unless the context otherwise requires, -3. Application.
- This Scheme shall apply to all the employees of the Punjab Privately Managed Recognised Aided Schools who,-4. Benefits under the Scheme.
- The following retirement benefits shall be granted under the Scheme, namely:5. Qualifying Service.
6. Condonation of interruption.
7. Entitlement for pension.
- An employee shall be entitled for pension under the Scheme only after he completes ten years (twenty half years) qualifying service.8. Superannuation Pension.
- (l) An employee other than Class IV employee shall be entitled to the superannuation pension from the date he retires after attaining the age of fifty eight years:Provided that in the case of a Class IV employee, the date of retirement shall be the date he retires after attaining the age of sixty years.9. Service Gratuity.
- Where the qualifying service is less than ten years (twenty half years), the service gratuity shall be calculated at the uniform rate of half month's pay for every completed six monthly period of service.10. Retirement Gratuity.
- An employee who has become eligible for retirement benefits under this Scheme on his retirement from service, shall be granted an additional retirement gratuity as given below,-11. Death Gratuity.
- In case of an employee who dies in harness, the death gratuity shall be admissible at the rates given below :-| Length of service | Rate of Gratuity |
| (i) Less than one year | Two times of pay; |
| (ii) One year or more but less than five years | Six times of pay; |
| (iii) Five years or more but less than twentyyears | Twelve times of pay; and |
| (iv) Twenty years and above | Half pay for every completed six monthly periodof qualifying service subject to a minimum of thirty-three yearspay: |
| Provided that the amount of the death gratuityshall in no case exceeds rupees one lac. |
12. Family Pension.
- In case of the death of an employee or pensioner, the family pension shall be granted as given below:| Range of pay | Rate of family pension per month |
| (i) Upto Rs. 1,500 | Sixty per cent of pay subject to a minimum ofRs. 750; |
| (ii) Exceeding Rs. 1,500 but not exceeding Rs.3,000 | Forty per cent of pay subject to a minimum ofRs. 900; and |
| (iii) Exceeding Rs. 3,000; | Thirty per cent of pay subject to a minimum ofRs. 1,200 and maximum of Rs. 2,500. |
| Range of Pay | Rate of family pension per month |
| (1) Upto Rs. 1,500 | Forty per cent of pay subject to a minimum ofRs. 375; |
| (ii) Exceeding Rs. 1,500 but not exceeding Rs.3,000 | Thirty per cent of pay subject to a minimum ofRs. 600; and |
| (iii) Exceeding Rs. 3,000; | Twenty per cent of pay subject to a minimum ofRs. 1,200 and maximum of Rs. 1,500. |