Section 3 in The U.P. Basic Education Provident Fund Rules, 1975
3. Establishment of Provident Fund.
- The Board shall establish and maintain a Provident Fund for its employees.[4. Contributions to the Provident Fund. - (1) Every permanent employee shall subscribe to the Provident Fund every month at a rate which is not less than 10 percent of his pay and does not exceed such rate as may from time to time be prescribed by the Board with the previous approval of the State Government. The amount of subscriptions shall be expressed in whole rupees.(2)The amount to be subscribed by an employee under sub-rule (1) shall be deducted from his pay and shall be at once credited to the Provident Fund established under Rule 3.(3)The Board shall make a contribution equal to one-half of the amount of the deduction from pay under sub-rule (2) :Provided that such contribution shall in no case exceed an amount equal to one-twentieth of the pay of the employee :Provided further that the Board shall make no contribution to the Provident Fund in respect of employees covered either by the Pension Regulations of the respective Nagar Mahapalikas or the Zila Parishad Employees' Retirement Rules, 1972.] [Substituted by Notification No. 4585/XV(5)-480-74-UPA-34-l972-Rule-l975-AM(1)-78, dated 10.7.1979 (w.e.f. 10.7.1979).]
