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State of Punjab - Section
Section 29 in Punjab Privately Managed Recognised Aided Schools Retirement Benefits Scheme, 1992
29. Interpretation of the Scheme.
- If any question arises as to the Interpretation of the Scheme, the Government shall decide the same.Form I(See clause 3)(An agreement to be executed by the Managing Committee for the implementation of the retirement benefits to the employees).An agreement made on _________________ day of _________________ between Managing Committee (hereinafter called the Committee which expression shall include its successor of the one part) and the Governor of Punjab (hereinafter referred to as the Government of the other part).Whereas the Government has decided to grant Death-cum-Retirement gratuity/pension/family pension and other related benefits in lieu of Contributory Provident Fund to the employee of Privately Managed Recognised Aided Schools with effect from the 5th day of February, 1987 in accordance with the procedure prescribed by the Government subject to the condition that Managing Committee of the concerned school shall execute an agreement to abide by the provisions of the Punjab Privately Managed Recognised Aided Schools Retirement Benefits Schemes, 1992 and instructions issued from time to time in this respect by the Government;And whereas the Committee ______________________ vide Resolution No. _________________ dated _________________ in fulfilment of the conditions for the grant of retirement benefits in lieu of the Contributory Provident Fund has agreed to abide by the provisions of the Punjab Privately Managed Recognised Aided Schools Retirement Benefits Scheme, 1992, and instructions issued from time to time by the Government, in this regard.In case of the existing employee who are governed by the Contributory Provident Fund and who elect to be governed by the Punjab Privately Managed Recognised Aided Schools Retirement Benefits Scheme, 1992, the Managing Committee's share and Government's share of the Contributory Provident Fund from the date of admittance to the General Provident Fund along with the interest accrued thereupon upto the date of transfer of such deposits shall be refunded and credited to the Consolidated Fund of the State of Punjab;Further the Committee has also agreed to continue to contribute five per cent or ten per cent or at such rates as may be fixed from time to time of the pay as their share of Contributory Provident Fund as if employee are not opting or had not opted for the retirement benefits under the Punjab Privately Managed Recognised Aided Schools Retirement Benefits Scheme, 1992. This contribution shall be credited to the Consolidated Fund of the State of Punjab.In pursuance of the said agreement, the Committee hereby agrees that it shall duly, faithfully and punctually perform all the conditions set out in the agreement. In the event of the failure of the Committee to act on the said conditions, the Director of Public Instruction (Schools), Punjab and Director of Public Instruction (Primary Education) as the case may be, and includes any other officer authorised by him in this behalf shall be entitled to deduct any amount due to the Committee, from the amount of grant in aid being issued to the Committee and may take such action against the Committee as may be deemed proper within the frame work of the Public Privately Managed Recognised Aided Schools Benefits Scheme, 1992.In witness whereof the parties have signed, this deed on the dates respectively mentioned against their signatures, -| (1) Witness | (1) Manager |
| (2) Witness | (2) Correspondent District Education Officer |
| Signature _________________ | Signature of the employee ____________________ |
| Date _________________ | Date _________________ |
| Name in full _________________ | Name in full (In block letters) _________________ |
| Designation ____ Office ___ | Designation _________________ |
| Signature _________________ | Office _________________ |