Section 67(4) in Jammu and Kashmir Municipal Corporation Act, 2000
(4)An employee in regular employment of the Corporation may in lieu of the Contributory Provident Fund benefits admissible to him under Jammu and KashmirProvident Fund Act, Samvat 2000, opt, for service and family pensions and in that event he will be governed by the rules, as are applicable to the employees of the Government; and such a person may contribute to the General Provident Fund.Provided that: -(a)the share of money contribution by the Corporation, alongwith interest accrued thereon, to the credit of such a person in his Contributory Provident Fund; shall be credited to the Pension and Gratuity Fund; established for this purpose;(b)the share or money, alongwith interest accrued thereon, to the credit of such a person in the Contributory Provident Fund established for the purposes; and any loss caused to the Corporation through withdrawals during the service shall be made good by him.
