Section 10 in The Punjab State Agricultural Marketing Board and Market Committees Employees Pension, Provident Fund and Gratuity Rules, 1987
10. General Provident Fund.
- (i) On coming into force of the Pension Scheme, the Contributory Provident Fund established by the Board/Market Committees shall be converted into General Provident Fund and the subscription portion of the Employees Contributory Provident Fund along with interest accrued thereon shall be credited to the General Provident Fund in respect of employees who opt for these rules.(ii)The portion representing to the Boards's/Market Committee's contribution shall be credited to the Pension Fund of the Board/Market Committee as the case may be.(iii)The subscribers of the Contributory Provident Fund who before the issue of these Rules, had invested their balance in term deposits in accordance with the provisions of the Punjab State Agricultural Marketing Board and Market Committee Employees Provident Fund and Gratuity Rules, 1965 and opt for these rules shall have to deposit the principal amount falling short of the portion representing the Board/Market Committee Contribution. Such deposits or receipts or certificate or papers will thenceforth be given to the concerned employees for realisation on maturity or otherwise.(iv)Section 43(2) (XXVIII). - Subject to the provisions of Act and the Rules framed thereunder the rule contained in Chapter XIII of the Punjab Civil Services Rules, Volume-II, shall apply mutatis mutandis to the employees of the Board/Market Committees who opt for these rules.(v)The employees joining the service of the Board/Market Committees on or after the date of coming into force of the Punjab State Agricultural Marketing Board and Market Committees Employees Pension, Provident Fund and Gratuity Rules, 1987 shall be governed by the General Provident Fund Rules contained in Chapter XIII of the Punjab Civil Services Rules, Volume-II.Form AOption FormI,__________________, hereby opt for the Punjab State Agricultural Marketing Board and Market Committees Employees Pension, General Provident Fund and Gratuity Rules, 1987 with effect from _______________.Signature of the employee.[Form B] [Form B added vide G.S.R. 28/PA 23/61/S. 43/Amd. (1)/94 dated 22.4.1994.]Option FormI,____________________ wife/husband of late *Shri/Shrimati______________ who died on_______________ while in service/after retirement, hereby opt for the Punjab State Agricultural Marketing Board and Market Committee Employees Pension, Provident Fund and Gratuity Rules, 1987.
