Section 6(2) in Punjab Panchayat Samitis and Zila Parishads Employees Pension and Provident Fund Rules, 2000
(2)The monthly contribution as specified in sub-rule (2) of rule 5, shall be drawn out of the Panchayat Samiti Fund or Zila Parishad Fund, as the case may be, and shall be credited into the Fund through a bank draft by the Drawing and Disbursing Officer of the Panchayat Samiti or Zila Parishad, as the case may be, not later than the seventh day of the month following the month to which these contributions relate and in the event of any default in making contribution within the stipulated period, the defaulting Panchayat Samiti or Zila Parishad, as the case may be, shall pay interest at the rate of eighteen percent per annum for the period of the default on the amount so defaulted.
