Section 71 in Sarva Haryana Gramin Bank (Officers and Employees) Service Regulations, 2010
71. Provident Fund and Pension.
(1)An officer or employee who has completed continuous minimum service as specified in the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 (19 of 1952) shall be a member of the Employees' Provident Fund and the contribution to the Provident Fund by the officer or employee and the Bank shall be in accordance with provisions of the said Act.(2)(a)An officer or employee covered under the provisions of Employees' Provident Fund and Miscellaneous Provisions Ac, 1952 (19 of 1952) shall be governed by the provisions of employees Pension Scheme 1995 framed by the Central Government in exercise of the powers conferred by section 6A of the said Act;(b)the Pension Scheme so framed shall come into force from the 16th day of November, 1995.(3)[ An officer or employee exercising the option to become a member of the Pension Regulation Fund under sub-regulation (1) of regulation 3 of the Pension Regulations and after exercising the said option, refunding the amount by causing the trust of the Provident Fund of the Bank to transfer the entire contribution of the Bank along with the interest accrued thereon to the credit of the Fund constituted the Pension Regulations, in accordance with the said sub-regulation, shall be governed by the Pension Regulations.(4)The family of the deceased employees exercising the option to become a member of the Pension Regulation Fund under sub-regulation (1) of regulation 3 of the Pension Regulations and after exercising the said option, refunding the amount in accordance with the said sub-regulation, shall be governed by the Pension Regulations.(5)Notwithstanding anything contained in sub-regulations (1) to (4) of this regulation, any employee who joins the service of the Bank on or after the 1st day of April, 2018, shall be governed by the National Pension System.Explanation. - For the purpose of this sub-regulation, the National Pension System means the National Pension System as defined in clause (i) of sub-section (1) of section 2 of Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013).] [Amended vide notification dated 19th November, 2018, bearing No. SHGB/HRDD/2018/3483, published in the Gazette of India vide No. 425 on 19th November, 2018, came into force from the date of publication in the Gazette of India.]
