21. Refund of employee's share of Contributory Provident Fund.
(1)Employees who are governed under the scheme and those who opt for it, shall apply, in writing, to the Managing Committee through the Head of the School stating that they are willing to refund the employee's share of contribution of Contributory Provident Fund together with interest accrued thereon and transfer their own share with interest accrued thereon to the General Provident Fund with effect from the date they started Contributory Provident Fund. The Head of the School and the Managing Committee shall transfer the requisite amount to the General Provident Fund and intimate the same to the District Education Officer. The Managing Committee shall keep a record of the General Provident Fund or Contributory Provident Fund Account, as the case may be. The employer's share with interest would be credited to the consolidated Fund of Punjab State and the employee's share will be credited to his General Provident Fund Account.(2)The amount of employer's share of contribution to the Contributory Provident Fund together with interest required to be refunded or actually refunded shall be recorded in the service book under proper attestation.Note. The employees or their legal heirs, as the case may be, who have already drawn the employee's share of Contributory Provident Fund together with interest accrued thereon and are [not] [Substituted vide Punjab Government Gazette LSP III dated 23.7.1992.] in a position to refund the same in cash, may be allowed to adjust the same against the amount of gratuity or arrears of pension that may be admissible to them. In such cases the employee's share of Contributory Provident Fund together with interest accrued thereon shall be refunded with ten per cent interest on the amount actually drawn, calculated from the date of drawal of the said amount to the date of refund or adjustment and if there still remains any due amount it will be adjusted by non-payment of pension till recovery of the total amount is adjusted.(3)The date of drawal and refund of the amount of employer's share together with interest thereon, shall be recorded in the service book and the entry shall be attested after verification by the District Education Officer concerned or any other officer authorised by the Director. The concerned employee or their legal heir, as the case may be, shall give an undertaking in writing to the effect that he has no objection to such recovery or adjustment.
