Section 17(5) in The Maharashtra Employees of Private Schools (Conditions of Service) Rules, 1981
(5)The pay on re-employment of an employee who is governed by the Contributory Provident Fund Scheme shall not exceed the last pay (including special pay or additional pay, if any) drawn by him at the time of retirement minus pension equivalent of the Management's and Government's contribution to the Contributory Provident Fund including interest thereon. The pay so fixed shall not, however, exceed the maximum of the time scale in which he is re-employed. The incumbent shall get the benefit of increment so, however, that the pay plus pension equivalent of the Management's and Government's contribution including interest thereon shall not exceed the maximum of the time scale in which the person is re-employed.
