Section 4 in United Bank of India (Employees') Pension Regulations, 1995
4. Option to subscribe to the Provident Fund.
(1)Notwithstanding anything contained in sub-regulation (4) of Regulation 3, an employee who joins the service of the Bank on or after the notified date at the age of thirty five years or more, may, within a period of ninety days from the date of his appointment, elect, to fore go his right to pension, whereupon these regulations shall not apply him;(2)The option referred to in sub-regulation (1) and Regulation 3, once exercised, shall be final.(3)There shall be no separate Provident Fund for employees joining services of the bank on or after 01.04.2010.
