Section 5 in The Punjab State Agricultural Marketing Board and Market Committees Employees Pension, Provident Fund and Gratuity Rules, 1987
5. Operation of Fund.
- [(Section 3(17) (i) and Section 25(2)]. - (i) The fund shall be held and administered by an Authority to whom the Competent Authority, wtih the prior approval of the State Government delegates its powers.(ii)Board/Market Committee's contribution as mentioned in Rule 4 shall be drawn out of Marketing Development Fund/Market Committees Fund, as the case may be, and credited into the Pension Fund concerned.(iii)All payment to be made to the employees of the Board/Market Committees on account of Pension and Gratuity shall be withdrawn from the Fund, established for the purpose:[Provided that in case the amount in the Fund is found not to be sufficient to pay Pension and Gratuity to any employee, in such a case, the payment of the Pension and Gratuity may be made out of the Marketing Development Fund or the Market Committee Fund, as the case may be.] [Added by Notification No.G. S. R. 52/P.A.23/1961/S.43/Amd.(3)/2012, dated 10.9.2012]
