Section 7 in United Bank of India (Employees') Pension Regulations, 1995
7. Composition of the Fund.
- The Fund shall consist of the following, namely,(a)The contribution by the Bank at the rate of ten per cent per month of the pay of the employee;(b)the accumulated contributions of the Bank to the Provident Fund and interest accrued thereon up to the date of such transfer in respect of the employees;(c)the amount consisting of contributions of the Bank along with interest refunded by the employees who had retired before the notified date but who opt for pension in accordance with the provisions contained in these Regulations;(d)the investment in annuities or securities purchased out of the moneys of the Fund and interest thereon;(e)amount of any capital gains arising from the capital assets of the Fund;(f)the additional annual contribution made by the Bank in accordance with the provisions contained in Regulation 11 of these Regulations;(g)any income from investments of the amounts credited to the fund;(h)the amount consisting of contribution of the Bank along with interest refunded by the family of the deceased employee.
