Union of India - Act
The Coal Mines Pension Scheme, 1998
UNION OF INDIA
India
India
The Coal Mines Pension Scheme, 1998
Rule THE-COAL-MINES-PENSION-SCHEME-1998 of 1998
- Published on 5 March 1998
- Commenced on 5 March 1998
- [This is the version of this document from 5 March 1998.]
- [Note: The original publication document is not available and this content could not be verified.]
1. Short title, commencement and application . - (1) This Scheme may be called The Coal Mines Pension Scheme, 1998.
2. Definitions . - In this Scheme, unless the context otherwise requires,--
3. Establishment of the pension fund . - From the appointed day the pension fund shall stand established which shall have the sole purpose of the provision of the payment of pension in accordance with the Scheme to the employee or his family or the payment of any amount which may have accrued under the provisions of the Coal Mines Family Pension Scheme, 1971, immediately before the appointed day. The pension fund shall consist of the following:--
4. Eligibility for pension . - (1) An employee who was a member of the Coal Mines Family Pension Scheme, 1971 immediately before the appointed day and has not attained the age of superannuation shall be deemed to be eligible for pension under the provisions of this Scheme from the appointed day.
5. Particulars to be furnished by an employee . - (1) An employee eligible for pension under the provisions of sub-paragraphs (1) and (3) of paragraph 4, shall within a period of [three hundred and sixty-six days] [Inserted by G.S.R. 107(E), dated 13.2.2003 (w.e.f. 13.2.2003). ] from the [appointed day or date of joining, as the case may be] [Substituted by Notification No. G.S.R. 268(E), dated 25.5.1998 (w.e.f. 5.3.1998)] submit to his employer the particulars of his family members in triplicate in Form PS-3 and nomination in triplicate in Form PS-4 which after proper verification and due attestation shall be forwarded by the employer to the authorised officer concerned.
6. Maintenance of accounts and records by the authorised officer . - (1) The authorised officer shall be responsible for maintenance of proper accounts, records and registers of the Pension Fund in such form as may be specified by the Commissioner from time to time.
7. Calculation of contributions . - (1) The rate of increment referred to in clause (d) of paragraph 3 in respect of time-rated or piece-rated category of employee shall be twenty-six times of his daily rate of increment.
8. Responsibilities of the employer . - (1) Every employer of the employee shall submit to the Commissioner on or before the 30th day of every month a return of contributions for the preceding month towards the Pension Fund along with the details of contribution towards provident fund in Form PS-5.
9. Investment, etc., of pension fund . - (1) The total amount vested in and transferred to the Pension Fund in accordance with the provisions of clause (a) of paragraph 3, except such amount as may be required from time to time for making the payment of pension and other benefits under the Scheme, shall be deposited on the appointed day by the Commissioner with the Central Government in the public account.
10. Monthly pension . - (1) An employee after completion of thirty years of pensionable service and on attaining the age of superannuation, shall be eligible to receive monthly pension at the rate of twenty-five per cent. of the average emoluments or not less than rupees three hundred and fifty from the date following the date of superannuation till the date of his death.
| Length of pensionable service | x | 25 percent of the average emoluments |
| 30 |