Section 3(1)(c) in Madhya Bihar Gramin Bank (Employees') Pension Regulations, 2018

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Union of India - Subsection

Section 3(1)(c) in Madhya Bihar Gramin Bank (Employees') Pension Regulations, 2018

(c)was in the service of the Bank between the 1st day of September, 1987 and 31st March 2010 and continued in service on or after effective date but retired before the notified date, if he exercises an option in writing within one hundred and twenty days from the notified date, to become member of the Fund and refund within sixty days of the expiry of the said period of one hundred and twenty days the entire final amounts received by him (the corpus comprising of Bank's contribution to provident fund under the Employees' Pension Scheme, 1995 and interest accrued thereon till the date of receipt by him of the amount) but without requiring to pay interest on such final amounts from the date of receipt of such final amounts to the date of refund: Provided that the family of the employee who -

(i)was in the service of the Bank on or after the 1st day of September, 1987 but died on or before 31st March, 2010; or

(ii)joined the service between 1st September, 1987 and 31 March, 2010 and died before the effective date; or

(iii)joined the service of the Bank between 1st September 1987 and 31 March 2010 and continued in service on or after the effective date but had died before one hundred twenty days after the notified date without the employee exercising an option in writing to become member of the Fund,

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Union of India - Subsection

Section 3(1)(c) in Madhya Bihar Gramin Bank (Employees') Pension Regulations, 2018