Section 14 in The U.P. Basic School Teachers (Savings-Cum-Insurance) Rules, 1976
14. Profit-Sharing Arrangements. -
The Corporation's Scheme of Profit Sharing shall be applicable to that portion of the contribution which is applied as premium for Assurances in respect of the Members. The profit or loss for purposes of profit-sharing shall be determined on policy-year basis and the State Government's share of profit in respect of the policy-year will be made available by the Corporation immediately after the expiry of the policy-year subject to renewal of the Scheme for the next policy-year. The State Government's share of loss for a policy-year will be carried forward to be set of against its share of profits in future.
