Section 2 in State Bank of India Employees Provident Fund Regulations, 2015
2. Definitions.
(1)In these regulations, unless the context otherwise requires,-(a)"Act" means the State Bank of India Act, 1955 (23 of 1955);(b)"Bank" means the State Bank of India;(c)"Board of Trustees" means the Board of Trustees referred to in regulation 3;(d)"Form" means the Form appended to the regulations;(e)"Fund" means the State Bank of India Employees' Provident Fund setup to provide every employee who is a Member with a sum of money, the amount of which will be ascertained according to these regulations;(f)"Member" means any person in the service of the Bank who has been admitted to the membership of the fund;(g)"Provident Fund" means the sum of money which will be ascertained according to these regulations on termination of the member's service with the Bank;(h)"Salary" means the substantive or basic pay plus personal and acting allowances, if any but does not include any other allowance, or any other bonus, commission or any other remuneration or profit:Provided that in respect of the period from the 1st January, 1962 to 31st July, 1966, salary shall mean -(A)in the case of employees other than those covered by, or paid on the same basis as in, the Award of the National Industrial Tribunal substantive or basic pay plus full personal and acting allowances, if any.(B)in the case of employees, other than subordinate staff, so covered by, or paid on the same basis as in, the Award of the National Industrial Tribunal, eighty per cent. of the awarded basic pay plus full personal and acting allowances, if any; and(C)in the case of the subordinate staff so covered by, or paid on the same basis as in, the Award of the National Tribunal, seventy five per cent. of the awarded basic pay:Provided further that from the 1st September, 1978, salary' or substantive salary' shall include other emoluments or such portion thereof of a member as may for the time being be permitted by the Bank to rank for superannuation benefits under the rules of service applicable to the member.(i)"Service" shall mean continuous service with the Bank and in the case of an employee who has been employed by the Bank with the benefit of continuity of service, as a consequence of the acquisition of the business of another bank under section 35 of the State Bank of India Act, 1955, or otherwise or as a consequence of the amalgamation of any bank with the Bank, under the Banking Companies Act, 1949, or otherwise his continuous service with the bank whose business is so acquired or which is so amalgamated shall be deemed to be service with the Bank.(2)All other words and expressions used in these regulations but not defined, and defined in the Act and the Provident Funds Act, 1925 shall have the same meanings respectively assigned to them in that Acts.
