Section 4 in Punjab Privately Managed Recognized Affiliated Aided Colleges (Pension and Contributory Provident Fund) Rules, 2002
4. Subscription and maintenance of Provident Fund Account.
(a)The employees who are appointed on or after coming into force of these rules and also the other existing employees who opt for these rules shall contribute towards the General Provident Fund as may be prescribed under the rules framed by the Provident Fund Commissioner.(b)The existing contributory provident fund account shall continue to be maintained by the managing committee for these employees who do not opt for these pension rules.4.2Transfer of balance in Contributory Provident Fund to the Corpus Fund. - The date of drawl and transfer of the balance in the Contributory Fund together with interest to the Corpus Fund under Para 3.1 shall be recorded in the Service Book and the entry shall be verified by the Principal of the College and attested by any officer authorized by the Competent Authority.
