Section 50(8)(i) in United Bank of India (Employees') Pension Regulations, 1995
(i)an employment in any capacity including that of an agent, under a company (including a banking company), cooperative society, firm or individual engaged in trading, commercial industrial, financial or professional business and includes also a directorship of such company (including a banking company), and partnership of such firm but does not include employment under a body corporate, wholly or substantially owned or controlled by the Central Government or a State Government;