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State of Punjab - Section

Section 20 in Punjab Privately Managed Recognized Aided Schools Retirement Benefits Scheme, 2012

20. Commutation of Pension.

- An employee shall be entitled to commute for a lump sum payment any portion consisting in whole rupee not exceeding one-third of any kind of pension which has been or may be granted to him under this Scheme subject to the condition that the sum commuted residue of the pension shall not be less than rupees 240 per month:Provided that in calculating the amount of the uncommuted residue, there may be added to it, the uncommuted portion of any other permanent pension or pension payable to the applicant from the revenues of the Punjab Government, any other State Government or Government of India:Provided further that an employee or pensioner, against whom any judicial or disciplinary proceedings have been instituted, shall not be permitted to commute any part of his pension during the pendency of such proceedings.Chapter-VI