Section 22 in State Bank of India Employees Provident Fund Regulations, 2015
22. Forfeiture.
(1)If, on any member ceasing to be a member of the Fund for any reason whatsoever, he, or if he be dead, his nominee, dependents or representatives as per these Regulations is/are not entitled to payment of any sum standing to the credit of his separate account in the Fund, any such sum shall, unless dealt with within the discretion of the trustees as in these regulations provided, be forfeited to the Fund.(2)Any sums which may accrue to the Fund by reason of any forfeiture shall be credited to a separate account and be disposed of for the benefit of the staff in such manner as the trustees may decide:Provided, however, that the trustees may, at their absolute discretion, waive any forfeiture and credit the amount thereof to the account of a member who may rejoin the Bank's service after having left it for any reason whatsoever.
