- The option under sub-clause (ii) of the second proviso to sub-clause (1) of clause 3 shall be exercised in triplicate in writing in Form II so as to reach the District Education Officer as forwarded by the Head of the concerned School with the approval by the Managing Committee within a period of four months from the date of publication of this Scheme in the official Gazette :Provided that, -(i)in the case of employee who, on the date of publication of this scheme was abroad or on leave, the option shall be exercised within a period of four months from the date of taking the charge of his post;(ii)where an employee is under suspension, on the date of publication of the Scheme, the option shall be exercised within a period of four months from the date of his joining the duty;(iii)an option once exercised shall be final and if a person fails to exercise his option for the Scheme within the specified period referred to above, it shall be deemed that he has opted for the Contributory Provident Fund benefits as envisaged in rule 22 of the Punjab Privately Managed Recognised Schools Employees (Security of Service) Rules, 1981 (hereinafter referred to the Contributory Provident Fund);(iv)an employee who dies on or after the fifth day of February, 1987 and who could not exercise his option, the legal heir of such employee who is entitled to receive retirement benefits under the Scheme, shall exercise option, subject to the condition that the legal heir shall have to deposit the amount received by the deceased employee or by him, as the case may be, under the Contributory Provident Fund.
