Section 9(1) in State Bank of India Employees Provident Fund Regulations, 2015
(1)In the event of the Bank acquiring the business of any other bank under section 35 of the State Bank of India Act, 1955, or in the event of amalgamation of any bank with the Bank under the Banking Companies Act, 1949, or otherwise and as a consequence of such acquisition or amalgamation, the Bank is employing employees of such other bank (hereinafter referred to as "the said employees"), the trustees shall receive the amounts if transferred to them by the trustees of the Provident Fund maintained by the other bank and standing to the credit of the account of the said employees under the columns "employees' contributions", "interest on employees' contributions", "employer's contributions" and "interest on the employer's contributions" (or under columns to that effect) and credit the amounts so received under the respective columns of the accounts of the said employees opened or to be opened in the Fund:Provided that if in the other Bank, the Provident Fund does not consist of any component of employers' contribution, there shall be no obligation on the trustees or the Bank to credit any amount in the column "employer's contributions" of the account of the said employees opened or to be opened in the Fund.
