Section 12(3) in Punjab Panchayat Samitis and Zila Parishads Employees Pension and Provident Fund Rules, 2000
(3)The employee, who has opted for these rules, but had invested his balance in accordance with the provisions of the Punjab Panchayat Samitis and Zila Parishads Provident Fund Rules, 1965, would be required to deposit the amount so invested along with the interest accrued thereon, within such period after exercising the option, as may be specified by the Director with the concerned Panchayat Samiti or Zila Parishad, as the case may be. If the employee does not deposit the said amount within the stipulated period, then he would be liable to pay interest on that amount at a rate specified by the Director till the date of deposit of this amount with the Panchayat Samiti or Zila Parishad, as the case may be.
