Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Entire Act]

State of Punjab - Section

Section 13 in Punjab School Education Board (Employees' Pension, Provident Fund and Gratuity) Regulations, 1991

13. Calculation of Pension.

- If the qualifying service rendered by an employee at the time of superannuation/retirement and invalidity is 10 years (20 half years) or more he shall be entitled to a monthly pension payable for life. It is calculated at the rate of fifty percent of average emoluments if the qualifying service is 33 years (66 half years) or more and if the qualifying service is less than 33 years the pension shall be proportionately reduced. In no case it shall be less than Rs. 375/- per month.Illustration -
1. Qualifying service 30 years(Sixty half years)
2. Average emoluments Rs. 5000/- p.m.
3. Pension will be  
Rs. 50002| x| 6060| =2272.73 say Rs. 2273 p.m.
Note :- 1. The pension shall be calculated on the basis of No. of half years of service put in by an employee. A period less than six months shall be ignored and the period equal to six months of service or above but less than a year shall be treated as one half year.Note :- 2. (i)Pension calculated as above in the illustration shall be rounded to the next higher rupee. If the pension is say at Rs. 2270.05 it will be rounded to Rs. 2271/- per month.
(ii)Dearness relief sanctioned from time to time to compensate for the increase in consumer price index, shall be payable in addition to the pension.