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State of Punjab - Section

Section 18 in Punjab Privately Managed Recognised Aided Schools Retirement Benefits Scheme, 1992

18. Compensation pension.

- If an employee is discharged by the Managing Committee owing to the abolition of a whole-time aided post, he will, unless he is appointed to another post the conditions of which are deemed to be at least equal to those of his own, have the option :-
(a)of taking compensation pension or gratuity to which he may be entitled for the service he has already rendered : or
(b)of accepting another post under the same Managing Committee for which he fulfils the prescribed qualifications if offered and to continue to count his previous service for pension.