MANUAL OF ACCOUNTING PROCEDURE EMPLOYEES’ PENSION SCHEME, 1995 { PART - IV SCHEME ON DISBURSEMENT OF PENSION THROUGH NATIONALISED BANKS Employees’ Provident Fund Organisation. (Ministry of Labour, Government of India) Head Office : Bhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place, New Delhi - 110 066EMPLOYEES’ PENSION SCHEME, 1995 SCHEME on DISBURSEMENT OF PENSION THROUGH NATIONALISED BANKS INDEX Chapter Tople Page No. 1 Introduction i 2 Flow-Chart 3 3 Arrangement for disbursement of Pension 4 4 List of Banks - disbursing agency 5 5 Link branch & paying branch 6 6 Authorities to issue Pension Payment Orders 7 7 Pension Payment Order - its custody, operation, ets 8 8 ‘Mode of crediting pension 9 9 Due date for payment of pension 10 10 Maintenance of Bank Account " W Disbursement of Pension - Procedure 12 2 ‘Service Charges 3 13 Duties & functions of Link branch 4 14 Duties & functions of paying branch 15 16 Payment of commuted value of pension 7 16 Payment of Return of capital 8 7 Revision of pension 19 18 Arrears of Pension » 19 Arrears of Pension - on death of Pensioner a 20 Family Pension a a Payment of Pension to Non-residents ed 2 Procedure for transter of pension - payment a 23 Certificates - to be furnished by Pensioners = 24 S.B. Account - Facilities to Pensioners = 25 General Procedure be 28 Post - payment checks 28LUST OF ANNEXURES S.No. Annexure Para Purpose Page No. No, No. 1 1 4-1 List of Banks authorised to disburse pension 29 2 2 7-1 Pension Payment Order - Specimen form 30 3 3 10-1& _ Monthly Statement of Pension Payment a 114 4 4 11-2 Letter forwarding the PPO's issued by RO/SRO & Cheque % 5 5 11-4 Summary sheet ofall the Paying Branch 36 6 6 112 Letter forwarding the PPO the Paying 37 Branch by RO/SRO 7 7 144 Letter advising the pensioner to appear before 99 Paying Branch 8 8 133 Index Register of PPO's 40 8 9 14-4 Letter of undertaking from Pensioner 203 a 10 10 205 Letter of intimation to the beneficiaries 42 " " 22:2 Application for transfer of Pension Payment 2 from one branch to anotherioutside the bank jr 12 231 Certificates to be submitted by the Pensioner cy 13 18 241 SB Account facities 6 4 14 34 Agreement form 46 6 15 124 Service charge Demand from Bank 491 12 13 CHAPTER - 1 MANUAL FOR DISBURSEMENT OF PENSION UNDER EMPLOYEES’ PENSION SCHEME, 1995 BY NATIONALISED BANKS INTRODUCTION : EMPLOYEES’ PENSION SCHEME, 1995 The Employees’ Provident Funds and Miscellaneous Provistons Act, 1952s a labour welfare legislation Providing social securty benefits to the employees working in the factories and establishments. ‘Apart from the benefits of Provident Fund and Employees Deposit Linked Insurance Schemes, the. ‘Act also provided for Family Pension tothe family ofthe employees, who died while in service through Employees’ Family Pension Scheme, 1971. This Family Pension Scheme was replaced by the Employees’ Pension Scheme 1995 on 16.11.1995. ‘These Schemes are administered by the Central Board of Trustees, Employees’ Provident Funds through the Regional and Sub-Regional Offices of the Employees’ Provident Funds Organisation, functioning under the contro! of Ministry of Labour, Government of India.TYPES OF PENSIONARY BENEFITS UNDER THE EMPLOYEES’ PENSION SCHEME, 1995 1.4 The Employees’ Pension Scheme, 1995 provides monthly pension benefits to its members and their family members -— L To the members To the family members \ 1. Superannuation Pension 1. WidowWidower Pension L or i Retirement Pension 2. Children’s Pension : Orphan's Pension 2. Permanent & otal 4. Nominee Pension diablement Pension 18 In addition to monthly Pension, a pensioner, is also eligible to get a lumpsum commuted value of Pension and Return of Capital on opting for Reduced Pension, 4 1 1.6 The booklet explaining the detailed procedure of disbursing the Pension and the accounting of funds i received from the Employees’ Provident Fund Organisation wit enable the disbursing banks to streamline their operation and thus provide a satisfactory service to the Employees’ Provident Fund Organisation t as well as the pensioners under the Employees’ Pension Scheme, 1995, ~elt 40 att90 +} uta0 all NO ‘OUSION Waa SEE TAS wD STH | pu wows oud promiog | sito | OUS/OY oF MeUaINS UNE PIEMOJ ~ | ASL YD OwS/OW Jo mEsayASAUALND N92q~ | yeLYO pty 3nged oy unour anquioy | -<21 90, ‘ours uovsuod so waussngus Sur] 0b (2rendnp ayes S2/¥ 0 Worsad p93) Ode S20401su>g saiaq, ead oy iostng 20pV (xsd) oH 28p21 HIT SOdd PHL young Sonked 01 sod 5p Wawarng prewioy ~ ONVad ONIAVE (PAD Atpaoyy) T-AALAVHD LYVHO MOTI S661 AWAHOS NOISNAd SAAAO TANSat 82 33 CHAPTER - 3 ARRANGEMENT FOR DISBURSEMENT OF PENSION tn orcs (o ensure that the pensioners under the Employees’ Pension Scheme, 1895 receive their pension promptly and also aiming at a trouble free service to them, the Employees’ Provident Fund Organisation, by vrture of the provisions of Para 33 of the Employees’ Pension Scheme, 1995,has finalised in Principle, an arrangement in consultation with IBA a nd Deptt. of Banking, with the State Banko Incia and othor Nationalsad Banks. Accordingly, the Regional Provident Fund Commissioners are authorised to enter into an agreement with one or more banks having wider network of branches located throughout the Riogion. (Rf, : Annox:14) Payment under the Employees’ Pension Scheme, 1995, is similar to Central Government Pension Payment system, except there is no focal point bank system. Under the Central Government Pension payinent systom pension paying branches submit the Pension Payment Scrolito its Link Branch and in tur the Link Branches consolidates and submits the Pension Scrolls to focal point bank viz., Reserve Bank of india or State Bank of India ors subsidiaries for obtention of pension reimbursement. In the case of Employees’ Pension Scheme, 1995 the Pension Paying Branches have to disbruse persion on the last working day or any other appointed date of the month tased on the pension statement received from the Link Branch, The Link Branch shall reimburse the actual amount of Pension disbursed to the concerned paying branch, duly debiting tne SB Account! Current Account of Empicyees' Pension Scheme, 1998 of he concerned Fiegional Otfice/Suo-Regional Offic,CHAPTER - 4 LIST OF BANKS DESIGNATED AS DISBURSING AGENCY 44 A Rlagionwise lst of Nationalised Banks with whom agreement has been entered into for dishurseme! ‘of Pension to the beneficiaries under Employees’ Pension Scheme, 1995 and also to the Pensions under the erstwhile Employees’ Family Pension Scheme, 1971 is given in Annexure 154 62 CHAPTER - 5 LINK BRANCH & PAYING BRANCH OF BANK ‘The designated Bank authorised for disbursing of Pension will identity @ Branch located in the station which the Regional Sub-Regional Offices ofthe Employees’ Provident Fund Organisation le elated P,aalas Link Branch. The detailed functions of the Link Granch is given in the Chapter. tthe Pempvees Provident Fund Organisation shall aintaina Curert Accoun/SB Account Viz, Empboyers branch from the Paying branches and forwarded to the Rlegional/Sub-Reegional Offices. Alltvarction aime bank are known as "Paying Branch for disbursement of Pension, The pensioners are required {omaintain S.B Account exclusively for credt of pension amounts with the Paying Branch fer receiving {helt monthly Pension, The Link Branch wil also act as Paying Branch, The duties and functions ot the Paying Branch is given in Chapter-14, [The Link Branch shall furnish thelist of branches along with the Branch Code Nos, tothe respective Regional'Sub-Regional Ottices of the Employees! Provident Fund Organisation,et CHAPTER - 6 AUTHORITIES COMPETENT TO ISSUE PENSION PAYMENT ORDERS pensioner who is eligible to draw Pension willbe issued a Pension Payment Order by Asst..Provi dent Fund Commissioner as authorised by the Regional Provident Fund Commissioner incharge of Regional oficeSub-Regional Office. The name and specimen signature of the Asst. Provident Fund Commissioner duly attested by the Regional Provident Fund Commissioner incharge of Regional Office/ Sub-Regional Office willbe communicated to the designated Link Branch of the Pension Dis- bursing Bank. Any change of authorised officer(s) wil be immediately communicated by the Fle. gional/Sub-Regional Office concerned to the respective Link Branch of the Bank. The officer author. {sed to issue Pension Paymeht Order wil also affix his embosing seal in the Pension Payment Order.74 CHAPTER - 7 PENSION PAYMENT ORDER ITS CUSTODY, OPERATION, ETC. The Pension Payment Order is generated through Computer in the Regional/Sub-Rlegional Office of the Employees’ Provident Fund Organisation. A specimen of the Pension Payment Order is given in ‘Annexure - 2. This contains two portions, viz - Pensioner’s portion and Disburser’s portion. The Pensioner’s portion of the Pension Payment Order will be given to the pensioner by the disbursing ‘bank through its paying Branch. The Disburser’s portion will be retained in the safe custody of the ‘paying Branch. For this purpose, the Disburser’s portion of the Pension Payment Order shall be 'placed in a serial order in a separate file, which must be kept in the personal custody of the author. ised officer of the Paying Branch in a manner that pensioners do not have access thereto. The Pension Payment Order will indicate the details of persons eligible to draw pension, the quantum of pension payable and the period upto which payable. The pension payment willbe made automatically {othe persons nientioned in the Pension Payment Order without referrring back to the issuing author ity. The joint photograph of the pensioner alongwith his spouse willbe affixed in the Pension Payment Order. On death of the pensioner drawing his fe pension, the pension willbe passed on to the widow! widower and to the children (upto two children ata time, upto the age of 26 years) as specttied in the Pension Payment Order, through a separate Savings Bank Account opened by each of the widow! widower/children including minor children. Wherever the Children Pension is payable to a person who isa majoriminor, a separate Savings Bank Account may be opened duly obtaining the photograph (in ‘duplicate). In the case of minor children the photograph of the guardian who operates the account in the name of minor should be obtained. One copy of the photograph may be sent.to the authority issued the Pension Payment Order.CHAPTER - 8 MODE OF CREDITING PENSION at Payment of pensions (including family pension) will be automatic and no bill will be required to be submitted. The amount of monthly pension, including relief on revaluation of pension sanctioned by the Employees’ Provident Fund Organisation from time to time, willbe credited by the Paying Branch ‘selected by the pensioner, to hs or her individual Savings Account already operted or to be opened with that branch. 82 Payment of pension in cash or through a' joint’ account with or without ‘ether or survivor ‘facility is not ; permitted in the Scheme. | a3 ‘The account cannot also Le allowed to be operated by a holder of power of attorney. However, the facility of allowing cheque books and acceptance of standing instructions for transter of funds from the account is admissible as per instructions of Reserve Bank of India as applicable to Central Civil } Pensioners. The widow/widower/major/minor children (by the guardian) are required to open a separate Bank account for each person to draw their pensionot CHAPTER - 9 DUE DATE FOR PAYMENT OF PENSION NOTE: The term "working day” shall be deemed to be a day on which the concerned Paying Branch 's open for transacting its ordinary business with the public. 1010.41 102 103 104 105 106 107 CHAPTER - 10 MAINTENANCE OF BANK ACCOUNT - EMPLOYEES’ PENSION SCHEME 1995 Asper the agreement, the Employees’ Provident Funds Regional/Sub-Regional Otfice is required to Place requisite funds in advance with the Link branch for disbursement of pension for the ensuing ‘month. For this purpose, the Regional Office/Sub-Ragional office is required to open a curren/SB ‘account in each link branch in the name of "Employees Pension Scheme 1995 - (regional office/Sub- Regional office) __ ". The ReglonaSub-Regional office of the Employees Provident Fund will send an Account Payee cheque drawn in favour ofthe link branch on 20th of every month .e. 10 days in advance of the month, covering the amount assessed for disbursement of pension for tho ensuing month. The amount recelved will be credited to the above current/SB account and without waiting for the realisation of cheque, the link branch should arrange to despatch the Pension Payment Orders received from Regional/Sub-Regional Office to the concerned paying branch through courier or by speed post. The link branch shall not place any amount with the paying branch at this ‘stage. A monthly statement of Pension Payment in AnnexureS (in duplicate) together with a cheque {or the assessed amount will be sent to the link branch by the FegionalSub-Regional Office of the EPF Organisation, The paying branch is required to credit the pensioners account as per the pension payment Order and with reference to the Monthly statement received from the link branch, On 8th of every month, the Paying branch shall return 2 copies of the statement, retaining a copy with them, indicating the date and quantum of pension paid in respect of each pensioner, to the Link branch, On 12th of every month, the link branch shail return one copy of the statement received from paying branches to the RO/SRO of EPFO duly indicating therein the quantum of pension disbursed, excess/ short payment and also the details on cessation of pensions on account of death/remarriage etc, On the basis of this paid statement the link branch shall reimburse the amount due to the paying branch, duly debiting the curren/savings bank account of the Employees’ Pension Scheme, 1995. On 12th of every month, the linkbranch willfunish a bank statement showing the credits given, debits ‘made towards the reimbusoment made to each branch and balanew in current/savings bank account The Regional Office/sub-Regional Ottice of the Employees’ Provident Fund Organisation will make necessary adjustment of balance in the currenl/SB account after due examination by 20th of each month before releasing the next advance payment. ‘The demand towards service charges should not be included in this current account, No. withdrawal {rom the current account i allowed elther by advice or through cheque from the Fiegional Provident Fund Commissionei/Assistant Provident Fund Commissioner of the Regional Otfice/ Sub-Regional Oftice. Accordingly, no cheque book willbe supplied to the account holder. 1"112 13 CHAPTER - 11 DISBURSEMENT OF PENSION - PROCEDURE ara granih of he designated Bank s the nodal pinto ensure proper and promt debursement Stren render the Employees’ Pension Scheme, 1985, co-ordinating the actives of Regleeel Paige/Sub Regional Otic and the paying branches, in the matte of receipt and deposal at Pence, Payment Orders, monthly disbursement, maintenance of currant account and recorllaton eat ton Payiment received trom Employees’ Provident Fund Organisation and the amount reimbureed te the paying branches, ete. Tanenever the PPO is forwarded by tha RO/SRO of the E.PF. Organisation to the Link Branch (Annexure-6), the Link Branch designated Otficer sho ‘The Paying Branch should verity the PPO and keep it ' separate fle for its preservation and maintenance being the basic document for release of pension. ;Amonthly statement of Pension Paymentin Annexure No.3 will be prepared by the RO/SRO of EPFO regencate, Paying Branchwise, and will be forwarded to the Link Branch by 20th of every month ipggner wih Summary sheet of allthe Paying Branchos in duplicate, in Annexure-§ and achedue er Tre cayaint of deposit for disbursement of Pension on month to month basis, The amount required for she payment of pension during the noxt month willbe emitted by RO/SROs after adjusting the volar ‘amount, with due examination, if any, at the close of the rhonth, Si cxplained above, the Regional Otfice/Sub-Regionel Ottice of the Employees’ Provident Fund Organisation wil lease cheque on 20th of each month towards the pension due for dievursernor rs is Guo, the same willbe included. In addin, the duos tothe pensioners towards Retumn of Captal and commuted value of Pension, relief, etc., as and when payable, will also be inchided, hs Monthly Statement of Pension Payments in Annexure No.9 received from RO/SRO should be cherked by the Link Branch, Any discrepeney noticed should be taken up with ROISRO tor dos atications. The said statements (in triplicate) willbe sent tothe concerned paying branch on arg 9ch month, The Faying Branch on receipt ofthe said statements and after veriying the Donccy toga orders included therein, shall disburse the Pension duly crediting the amount on ave ont Fremmaring Bank accounts ofthe pensioners. inthe case of new pensioners, the paying bravek shag Statomoct pasion disbursed by the bank during the current month willbe sent alongwith the eaid rarementin Annexure No.5, duly indicating the balance availabe inthe Curren/SB Ale manteineans the Link Branch, 12124 122 CHAPTER - 12 SERVICE CHARGES ‘As per the agreement, the Employees’ Provident Fund Organisation will pay service charges to the Bank @ 2.5% (all inclusive) on the turnover of the pension amount disbursed. The service charges should be claimed by the link branch from the concerned Regional Office/Sub- Regional Office on or before 15th of every month, {umishing a statement of pension actually disbursed by the paying branches (Annexure-6) in the preceding month, The demand should be:sent to Regional Provident Fund ‘Commissioner in the form precribed (Annexure-18). The Regional/Sub-Regional Office will remit the service charges through a separate cheque and forward to the concerned link branch within 7 days of the receipt of the demand. Under no circumstances, the service charges due from Employees’ Provident Fund Organisation should be adjusted in the balance lying in the pension (cutrent/Savings bank) account maintained at the link branch. Similarly, the cheque received towards service charges should not be reflected in this account.131 132 133 13.4 135 136 137 138 139 13.10 13.11 13.12 413.13 “CHAPTER - 13 .DUTIES AND FUNCTIONS OF THE LINK BRANCHES ‘The Regional/Sub-Regional offices of the Employees’ Provident Fund Organisation shall maintain Current account/SB Account with the fink branch. It is operated only to receive the pension due for disbursement in advance i.e. on 20th of every month from the Regional office/Sub-Flegional Otfices and from this account payments are made to the paying branch towards reimbursement of pension, disbutsed by them, ‘The specimen signature ofthe officers authorised willbe made available to the pension link branch by the Regional Provident Fund Commissioner wellin advance. The link branch has to keep the specimen signatures of the Officers authorised to sign the Pension Payment Order in their safe custody and make use of the same for verification of signatures in the Pension Payment Orders: (Qn 20th of every month, the Regional Office/Sub-Regional office shall forward the Pension Payment Orders through a special messenger and fink branch will maintain a index register of the pension payment in the form prescribed in. Annexure - 8 to serve as a consolidated record of the Pension Payment Orders received by it from the Regional Otfice/Sub-Reegional Office for arranging payments there against at its specified payment branches. ‘The genuineness of the Pension Payment Orders issued will be verified by the Link Branches of the bank by comparing the specimen signature and of special embossing seal received by them separately (to be obtained, if not already on record), with those affixed on the letters from the Regional/Sub- Regional Otfice forwarding the Pension Payment Orders, Allthe Pension Payment Orders should be transferred to paying branches located in the same station through a special messenger/courier service and in case of outstation, the Pension Payment Orders to be sent by courier service/speed post and obtain proper acknowledgement Simultaneously, the fink branch shall ensure to forward the Monthly Statement of Pension amounts Tecelved from RO/SRO of EPFO, paying branchwise in triplicate (Statement No. 3), showing the ‘amount to be disbursed by each paying branch and send it to them for ensuring timely credit to allthe pensioners account (On receipt of the paid statement from the paying branch, the link branch will take note of the pension paid, amount of excess/short paid etc. and advise the RO/SRO suitably in Annexure No. 5. The duplicate copy of the paid statement alongwith branchwise summary shall be sent to Regional Office/Sub-Regional Office. In addition, the link branch shall furnish a statement on the amount lying inthe link branch, The paying branch as well as link branch are advised to exercise adequate care and ‘caution in handling the pension account to avoid any loss or damage for the bank or the Employees’ Provident Fund Organisation. The balance, tany-in the current/SB account alter disbursement of pension ina particular month wil be adjusted in future months by suitably reducing the total monthly payment to be tnade by the Regional Otfice/Sub-Regional Office The service charges with be claimed in the form prescribed (Annexure-15). To arrange for transfer of Pension Payment Orders as explained in para 22.1. ‘To supply monthly bank statement to the Regional Ofice/Sub-Regional Office by 15th of each month. To liasion with Regional Office/Sub-Regional Office through a nominated Officer so as to ensure proper reconciliation of receipt and payments, Wherever the pension is ceased in respect of a Pension Payment Order, the PPO and other documents as recelved from paying branch to be returned to the Regional office/Sub-Ftegional Office for cancellation and record. The undisbursed amount of pension, excess pension amount paid, erroneous excess payment, etc. should only be adjusted inthe future due from Employees’ Provident Fund Organisation. As such, no money should be refunded by way of cheque/Demand Draft etc. This holds good both for link as well as paying branches, The link branch should advise the paying branches not to deal directly with the Employees! Provident Fund Organisation for monitory and other transactions relating to pension payment 41441 142 143 144 145 146 147, CHAPTER - 14 DUTIES AND FUNCTIONS OF PAYING BRANCH On receipt of Pension Payment Order trom the link branch, the paying branch should enter the same in the register of Pension Payment Order kept with them, Simultaneously the Bank will address the pensioner through a letter (Annexure No. 7) advising him/her to appear at the branch alongwith the documents mentioned therein for the purpose of identification. In the case of physically handicapped pensioner, who is unable to present himself/herself at the paying branch, the requirement of personal appearance shall be waived. Instead, the Otficer-in- charge/Branch Managerfthe desiganted Orficer may visit the pensioner's residence/hospital for the Purpose of identification and obtain specimen signatures etc. For this purpose, the pensioner shall submit tothe paying branch, a certificate from a Registered Medical Practitioner about hissher being physically handicapped, Before commencement of pension, the paying branch shal obtaing in the case of a new pensioner, ‘specimen signatures or the thumb impression as the case may be, in the space provided for the Purpose in the disburser’s portion of the Pension Payment Order and handover the pensioner’s portion Of the Pension Payment Orderto him/her after proper identification and obtain acknowledgement. The paying branch shall obtain and affix the photograph of the pensioner, wherever necessary, duly forwarding ‘a copy to Regional Office/Sub-regional Office. ‘The paying branch shall obtain an undertaking (Annexure No. 9) from the pensioner that excess Payment, if any, credited to him/her account, due to delay in receipt of any material information or due to any bonatide error, can be recovered by the Bank. On the first appearance of a pensioner at the paying branch, the designated Officer of the Branch will satisty himsetf about the identification of a pensioner by ensuring that := 2) the personal identification marks, if any, on the face or/and hand of the pensioner given in the disburser's portion of the Pension Payment Order have been checked. b) the pensioner has produced his/her personal copy of the intimation received directly from. the authority issuing the Pension Payment Order or any other documentary proof estab lishing his/her identity as pensioner. ©) _ the pensioner bears a close resemblance with the photograph as affixed on the disburser’s portion of the Pension Payment Order. )__the pensioner's specimen signatures or thumb and fingers/great toe impressions, as the case may be, to be obtained by him in the space provided for the purpose in the disburser's portion of the Pension Payment Order agree with the attested signatures or thumb/and, tingers/ great toe impressions received with the Pension Payment Order: and 2) ___incases wher itis not possibie to comply with the requirement at (d) above due to the. pensioner being handicapped, his/her identity may be verified with reference to (a) to (c) above f) Incase of temporary inability to appear in person in consequence of the pensioner’s bodily illness or infirmity, verification may be carried out as above, as soon as the pen- sioner recovers from illness. ‘The personal identification of the pensioner as prescribed in the preceding paragraphs, will be only for the first payment of pension at the paying branch ‘The disburser’s portion of the Pension Payment Order shail be placed in serial order in a separate file for “The Employees’ Pension Scheme, 1995", which must be kept in the personal custody of the authorised Officer of the paying branch. The Pensioners’ portion of the PPO should be handed over to the Pensioner after obtaining the acknowledgement. 18148 149 14.10 14.1 14.12 14.13 14.14 14.15 14.16 44.97 14.18 14.19 ‘Noll shall be required to be submitted by the pensioner for drawing pension at the paying branch, Kension willbe paid by he paying branch, after deducting Income tax by eros ta the ‘Savings Bank Account ofthe pensioner with the paying branch. Pension will ot be paid in cash oy through a joint Account with or without either or survivor account. ‘The paying branch shall credit the net amount of pension payable tothe pensioner on due date. The paying branch willbe responsible for deduction of income tax at source from, pension payment in apace er aremedcaion even in cases where no income taxis deducted at source, ie ences applies for such a certificate in writing, ‘The paying branch will receive a statement by 23rd of each month forthe pension due tor disbursement inthe ensuing month Annexure no. 3, This Slatement should be verified with the respective Pension Payment Orders (disburser's portion) in regardto eligbiily and amount, After disbursement, the paying branches should return triplicate copies of the Monthly Pension Statement {oihe link branch, duly completed, interalia indicating the details of amount excorsranen Paid, death’ Temarriage etc. to link branch, retaining original copy for their files Every payment shall also be entered on the disburser's portion ofthe pension Payment order and ‘authenticated by the authorised officers of the paying branch, {nase Pensioner desires payment through another branch, the Penson Payment (Order alongwith the application should be returned to the link branch for follow-up action, pang When no payment is due in respect of a Pension Payment Order, the entire documents ‘alongwith Orne ghoul be returned tothe lnk branch tor onward transmission to Regul Office/Sub-Regional Office, As art! when a pension is passed on to the nem oigile person, the payingbranch should intimate the Payment Orler ern eduisite documents. Simultaneously, the pension actualy due as per Peneion {h.ease thereis any change in pension payments in any particular month as comparedte the pension ree in secectng month, for any reason, theppaying branch wil make a notation Change" (preferably seo De appre cutter acetiicate ot having made the remarks of Change’ onthe alomat nay also be appended at the end of the statement ite! fallol the Pension Payment Order and record thereon the changes, indicating, inter-alia, the date(s) from which the changes are effective, After this is done, those halves wil be ret oro the pensioners, ‘The date of commencement, cessation and reduced pension etc. shall be kept noted prominently in red ink in the pensioners ledger account, 50 as to avoid over payment. 16154 152 163 CHATER 15 PAYMENT OF COMMUTED VALUE OF PENSION In addition to normal pension, wherever one time commuted value of pension is payable and the sama is not found recorded in the Pension Payment Order, the Paying Branch will ensure the redeipt of necessary sanction of Asst. Provident Fund Commissioner and inclusive of the same in the statement {from the RO/SRO for giving necessary credit to the S.B. Account of Member Pensioner after making necessary record of such payment and also the quantum of reduced pension payable thereatter and the effective date in the Pension Payment Order. Whereverthe payment of commuted value Is indicated in the Penson Payment Order, the same ray be paid by Paying Branch after veritying the statement received from Link Branch, ‘Commutation of Pension is effective from 16.11.98, 716.4 162 163 CHAPTER-16 PAYMENT OR RETURN OF CAPTIAL Return of capital is payable to the member-penstoner orto his/her nominee only This depends on the ® option exercised by the member and the specific authorisation given in the Pension Payment Order. ‘Accordingly, itis payable as and when falls due, on any one of the following contingencies, (@) _ Ondeath of the Member Pensioner; (©) Ondeath/remarriage of widow/widower; (©). Atthe end of 20 years from the date of commencement of pension to the member/nomines. Wherever retum cf capital is payable to the nominee, the concerned person should be intimated and verify the documents such as pensioner's portion of Pension Payment Order, identified by a Gazetted Officer or by any responsible person acceptable to Bank, Savings Bank Account No. etc. ‘The Return of Capital should be released on receipt of the statement from Link Branch and after due verification of Pension Payment Order by credit to the 8.B. A/c of the beneficiary. 8| 174 172 CHAPTER - 17 REVISION OF PENSION |n cases where the amount of pension payable is revised, payments at the revised rate including arrears, it any, may be arranged in the following manner:— @ On receipt of a communication from the authorised officer from Regional Oftice/Sub:Regional Office of Employees’ Provident Fund Organisation the Paying Branch will carry out the requisite Correction on both the halves of the Pension Payment Orders, under attestation by the Branch Manager, quoting thereon the authority of Employees Provident Fund Organisation. The Pensioner's haif of the Pension Payment Order will be obtained by the Paying Branch from pensioner for making these corrections, Simultaneously, a note to the effect that necessary corrections have been made in both the halves of the Pension Payment Orders wil also be ‘made on the amendment letter of the Employees Provident Fund Organisation. ‘As soon as the communication for revision of Pension is received from the Link Branch duly supported by the statement the payment has to be effected from the date mentioned in the statement including Payment of arrears, i any.18.4 18.2 133 CHAPTER - 18 ARREARS OF PENSION Puimont of current pension returned the paying branch only on raceiptback ofthe Penn Payment Order with a sanetion ofthe competent authority in Regional Ofee/Sub Regional One.194 192 193 CHAPTER - 19 ARREARS OF PENSION ON THE DEATH OF PENSIONER AND MANNER OF DISPOSAL OF SUCH PENSION PAYMENT ORDER Pension shall be drawn for the day of the pensioner’s death irrespoctive of the time of death, On receipt of a death certificate in respect of pensioner, the paying branch will work out the amount of arrears due to the deceased or overpayment, if any, made to him. It will take action immediately to recover the overpayment from the deceased's account in terms of the undertaking obtained by the paying branch from the pensioner at the time of commencement of pension. Payment of arrears willbe ade to the heir(s) of the deceased pensioner, it the deceased pensioner had not submitted any Norfination, In case a valid nomination by the deceased pensioner exists, payment willbe made to the nominee in accordance with the nomination, However, for payment of arrears to the heirs) of the deceassed pensioner, the Bank after furnishing information regarding the date of pensioner's death, ‘amount of arrears due in respect of the deceased pensioner and particulars of claimant(s) claiming payment, and the authority if any, in which their is based, will seek instructions of the Regional Office! ‘Sub-Regional Orfice. For payment of arears tothe nominee, he/she willbe asked o apply for the same to the paying branch along with the pensioner’s half of the Pension Payment Order and a receipt (duly stamped where ecessary) for the amount, setting forth the period of arrears. The paying branch, after verifying the fact that the payment is actually due to the deceased pensioner, and also the particulars of the nominee as given in the nomination, will make payment by a Bank Pay Order and made a suitable note on both the halves of the Pension Payment Order. The receipt of the nominee will be enclosed by the paying branch with the relevant payment scroll while claiming reimbursement through Link Branch, ‘The paying branch will enter the date of death of the pensioner in the disburser's portion of the Pension Payment Order as well as pensioner's portion and in the register of pension. The pensioner’s half of Pension Payment Order will then be returned to the nominee, Note :— The provisions will apply mutatis mutandis to cases where the family pension ceases to be payable either due fo death of the family pensioner, his/her re-marriage/on the pensioner attaining the maximum ‘age prescribed in the Scheme, 220.1 203 204 20.5 CHAPTER - 20 FAMILY PENSION par from widow/widower, two eligible chkiren at atime wil also be paid pension. The particulars of chikdren as contained in the Pension Payment Order should be Verified before commencement of children pension, payment of family pension wilbe made separately to each eligible Pensioner by credit to their Saving Bank Account (nota joint or ether or survivor Account, ‘Additionally, an undertaking similar to the cone of Annexure 9 willbe obtained by the Paying Branch from the Feceptient before payment of family, Pension is commenced. jhe Paying Branch will also advise the Employees Provident Fund Organisation through the Link tranch. the date of pensioners death and commencement of payinont ‘of family pension for keeping the necessary note in their records, Trt the report about the death ofa pensioner is received by Paying Branch frst, from a source Ciher than the widow or widower ofthe deceased the Manger shal ores ‘Satisfying himself about the the Porras ofthe report write tothe family members as in Annexure Neva ne, ‘address given in the Pension Payment Order, pliance with the prescribed formalities, sé that payment of family pension to the entitled,ait 212 213 214 215 216 247 218 219 CHAPTER - 21 PAYMENT OF PENSION TO NON-RESIDENTS: The Bank may credit the pension amount of a non-resident to a Non-Resident (Ordinary) account ‘opened/maintained as per provision of the Exchange Control. The amount of pension of a pensioner who has become non-resident may be credited to the said account after ensuring the personal identification and other requirements as stipulated under the Scheme. 1m case of the existing accounts, the pensioner should intimate the fact that he has become non- resident Indian and the paying branch in India should convert the account of the pensioner to Non Resident Ordinary (NRO) Account, ‘The pensioner has to furnish the life certificate issued by an authorised Official of the Embassy/High Commission of India or Consul of Indian Consultants or a Notary Public or an Officer of an Indian Public Sector Bank attached to its branch in the country where the pensioner is residing, once in a year in November. ‘The pensioner has to furnish a certticate of non-remarriage certificate, The paying branch will credit the amount of pension due every month to the Non-Resident Ordinary Account of the pensioner. ‘Withdrawals from the Non-Resident Ordinary Account will be governed by the instructions contained inthe Exchange Contro! Manual and the paying branch should allow the withdrawals accordingly. Pension credited to the pensioner’s Non-Resident Ordinary Account will not be allowed to be repartriated aborad. ‘The paying branch should return Pension Payment Orders of such Non-Resident indian pensioners who are drawing pension from them and are unable to furnish the prescribed lfe certificate to the pension sanctioning authority for arranging future payments to them, ‘The change in the citizenship by any Non-Resident indian pensioner will not affect his/her entitlement to the pension.P24 22.3. 22.4, 22.5. CHAPTER - 22 PROCEDURE FOR TRANSFER OF PENSION PAYMENT FROM ONE BRANCH/BANK TO ANTOHER Applications for transfer of pension may fall under any of the following categories:— © Transfer from the Paying Branch to another branch falling within the same Link Branch; (@) Transfer rom one Link Branch jurisdiction to another of the same Bank (such transtors ‘obe allowed only once in a financial year); and (@_‘Transter from one Bank to another Bank at same or diferent station. Frat! fling urder category () above may be entertained by the Link Branch itself, Necessary intimation of effecting such transfer (Annex. 11) willbe. Sent to RegionaSub-Regional Office for Keeping a note of change in their records and also to the pensioner on receipt of pension forpayment artnet forward the PPO with appropriate endorsement therasn, tote or branch sapanent ot pension through the Paying Branch concemed, under ime eens Pensioner, duly observing the laid down procedure, To avoid the risk of overpayment at the time of transfer, the following certiticate may be recorded on the Pension Payment Order by the Paying Branch that ted.thal payment of pension has been made up to the month of and that the Pension Payment order consists of Continuation sheets for recording disbursement” Except as provided above, the transter of a pension from one Payment point to another will not, ordinarily, be permitted, id hem b,234 23.3 CHPATER - 23 CERTIFICATES TO BE FURNISHED BY THE PENSIONERS Life Certificate The pensioner would be required to furnish a life certificate in Novernber each year in the form prescribed in Annexure 12(!). The public sector banks are authorised to issue this certificate, ‘Non-Marriage/Non-re-marriage certificate {Ih the case of widow'widower recipient family pension, the certificate of non-remarriage in the form Prescribed in Annexure 12(Il) is required to be furnished by the recipient, at yearly intervals ie. in Novernber. The Certificates mentioned above required to be submitted, in duplicate, by the concerned pensioner to the Paying Branch and the Paying Branch will retain one copy of the certificate with the Pension Payment Order concerned and forward the second copy to the Regional Otfice/Sub-Regional Ortice concerned of Employees’ Provident Fund Organisation 25244 FACILITIES TO PENSIONERS IN OPI CHAPTER - 24 ERATING SAVINGS BANK ACCOUNT FOR PENSION The pensioners are eligible to avai as contained in Annexure No. 13. ithe facilty of cheque book and also to issue standing instructions254 CHAPTER - 25 GENERAL PROCEDURE Wherever tho Scheme as explained in this booklet does not contain any procedure or inadequacy otherwise, the procedure existing under the Scheme for payment of Pension to Central Government Chil Pensioners for issue of Pension Payment Order, monthly authomatic crediting of pension, aulomatic ‘commencement of Family Pension, Payment of arrears of Pension to Nominee and submission of the ‘equiste certificates, etc., can be made applicable for the Pension Payments urider the Employees’ Pension Scheme, 1995 as wel26.1 26.2. CHAPTER - 26 POST PAYMENT CHECKS. ‘The Regional Office/Sub-Regional Ofice wil be responsible for acc Pensions to Pensioners and their families and will also conduct postel nce or Payments through the. tothe Pay lgm and any meguarties noticed during the course ofthe post shone will be communicated nino willbe responsible for carrying out necessary recification, nner whre ountal of pensions including family an occa et Accountant General (Aut) will conduct aut of pensionary payments insuch manner The sea af extnt as the Comptroler and Auator.General of India may presen time to time. The accounts, records and registers maintained in the Paying Branehe, making pension payments ay poomtne Lk Branches shallbe open ic aut by the Comptrolerend ees a of India or ‘ny person appointed by Employees’ Provident Fund OrganisetionANNEXURE - 1 (PARA 4.1) REGIONWISE LIST OF NATIONALISED BANKS FOR ISBURSEMENT OF PENS UNDER EMPLOYEES' PENSION SCHEME, 1995 — S.NO. NAME OF THE REGION NAME OF THE NATIONALISED BANK/S 1 1 ‘Andhra Pradesh ‘Andhra Bank and SBI 2 Bihar Punjab National Bank 3 Delhi Punjab National Bank and SBI 4 Gujarat Dena Bank and SBI 5 Haryana Punjab National Bank and SBI Kerala ‘Canara Bank and SBI 7. Karnataka Canara Bank 8 Maharashtra Bank of India and PNB 9. Madhya Pradesh Punjab National Bank and SBI‘ 10 North Eastern Region (Assam) Punjab National Bank and SBI u Orissa Bank of India and SBI 22 Punjab Punjab National Bank 1B. Rajasthan State Bank of Bikaner and Jaipur and PNB 4 Tamil Nadu Indian Bank and SBI 15. Uttar Pradesh Punjab National Bank and SBI 16. West Bengal Punjab National Bank, United Bank of India.TLWTLt1 youeig: Hauotsuad Jo auneusig OL zt : “ON 97 ueg sBuraeg 1 (apo) : squeg /youesg Burkeq J2uOIStg 2m Jo sqEM uoNeoyruapr feuOsiog ssomppy + 9UeN §,paegsny/s, ame f JoquioU! 919 Jo auTeN, “ON 49p1Q waked woIsuag paMorssTMOD aq WESIssy Jo ammrendis ae que pastfeuonen ySnonp nd o1odd $6." Sd Jepun wo}suag Jo ywout2sinqsiq uo auiaqog axp UL 309s aunpooosd am o1 Buoqpe sonorsuod jo woneayntapt anp J2ye ‘Japanaiod pestione se ‘siyatiag Aiouoisuag a ‘ed 01 pasvard 29 ‘arep anp wo ‘aoniou saypiny jp (wonTeT 5, or RS TENTNONjo wna Jos | 1 } @ { T TaquT ; aay up a | oureN AIO aeC | diysuonejay ssozppe pu aureN | oN Is UeIpIEND, | (oureu xp mojaq ,c, a1eaxput - paygesicr yo aseo ut) 31supak QZ 104 worstiad posnpas 40j a]qidyfo st aoutWoU ayp “¢ uondo thm [euide> Jo winyax 403 pardo JaquOW aIp aLay,A, suouessa9 Jo a1eq Jatjea St ox3qout} peop sty [TM 40 Jaquiaut axp 0} uoIsuad Jo wawL2oUNDLRIOD WO) juowiaduaUNUOD Jo ae wnowy qpeapyaSenssewar od Lis uuotsag paonpay uorstiag [PULON, wawrapnug (2p09) uorstiag Jo sseI3, WANG OL ~ NOISNad XTHINOW ede yo winioy worsuag Jo ‘anyea parnunio3 (9) uo pied © on aigeked () uo ang (e) @ ty) anp unowy 209 uawked Jo ameN INOW NVHL WaHLO SiaaNad 32anp worsted 01 pareyor uo amp 30 LZ6T wuotsuag weydio Jo 2509 U) 4 (quondo) (2)¢1 exed spun “atuays dorsueg équrey ,soagoydurg Jo wnoo2e uo st dorsuag Atrurey posueyua ay) PooUey ey reuuon, PROUEHU TeuON, rena z reuuon auton @ [ewioN, JoMOPIA _ POOUPLUs JROPI (3) w (9) () () a) uonessaa—-wawisquauruos vorstag Joarq 40 aq wunowy aigeked uorsuag auey p09, JOS) ON IS NOISNSd ATINVA 33young Surdeg safeury youeig, ILE W OVW OH Sy youerg Sutteg ay Xq pasingsip Tunowe [eo uoWalgRsiq] MaUeUad-g “POUIWON-N “UeYdIO-O “UOIPIIUD-D *MOpIAA-Ay “WOLEMDAL-Y “U uorstiad 40 sse19, ap o © ® w © ic) © © @ satay vorsuag sy yuorsuag pred -anyjendes, “ro yogs jo wimay worsuag yende9 jo wm “p (ss90x9 juoneinunuo) pasa JOH Jo sreanty “9 Axe.ou09 eoIpu pas Iq Joma (L499) oHMnUUOD ~q worsuod jo worsuag pauoIstng syewny —FURTITANTIOT rey. uowsuad jo sreay “e —swy AIM _—_JOSSEI “ON D/VES___JO2WRN “ON Odd “ONS (arearjdin ur yueg ayn 07 panmuaqns 2q 01) SLNNODDV YNVE JO NOLLVITIONOITY SINAAYd NOISNAd SO LNAWALV.IS ATHLNOW HLNOW JHL 40d = HGOO HONVYG/HOINVY ONIAVE FHL JO FWWN POL Bed) AOIL4O TVNOIDAY-ANS/TVNOLOTY aunxouuy NOILVSINVOYO ANd LNAGIAOYd SIIAOTAWA 34ANNEXURE - 4 (Para 11.2) By Special Messanger To ‘The Manager Link Branch Sub. :- Forwarding of list of Pension Payment Orders for - the month of 5 Sir, Tam forwarding herewith the following documents for disbursement of Pension as per the existing banking arrangements a) Pension Payment Orders (Disburser's & Pensioner's portion) alongwith a - letter addressed to the Paying Branch. _ b) Monthly Statement of Pension amounts for the month, Paying Branch wise, in triplicate. . ©} Account Payee Cheque No. _ __ date for Rs. Please acknowledge receipt Encl. =~ As above. Yours faithfully, ( ) : ASSISTANT PROVIDENT FUND COMMISSIONER (PENSION) 38youesg UT soduey youedg ‘aeg ‘08d Sy «Co se Yourag Yury UE pouRRUTeN S/V EIS HF SOURTeg, z yunooy woIsuad Seda af 01 Paige: asim qouwig Bulteg amp ut uMoys 19 wadq 2Avt] —— sgt twaaq sty 9 “Jog sad se pasmgsip worstay Jo jnoUE erase AjBuIpOIZY st Axeroujeuaq ova ysureFe pauonwaus arep op Wo swnodde uoIstag amp OF jo uns e siiauaweis youeg uiced Jo (L7P9 “10D) anoge § 7R b “10 JOUR pauonuaus nou ax Jo INO TELA PALR!AD 1 aegy Jost Toy Dad WO'VW'S'S _ 58 40} ag on, anbayo anos ponssy Saumur pausodap aq 01 minoure 195) € __ 2 SY Youerg Yer] MIM D/¥ “A/S Bt eouETeR $897 7 Scaceaimama co Ome ew puumog yore, ot w (9) (@)s (Ps) (5) (es) o) ©) @ wo ypusig Fukeg (ag Aq pasingsip +S) unoUe [PUY [COL OY Jallas fo steauzy uowenunuoD wossuag jo sseauy voIsuEg Jo wWROLIY Odd JOON Hower Sued ONS (ALVOITANG ND SHHONVEE ONIAVE AHL TIV 40 LAGHS AUVWANS - ead) XANNV 36EPFO ANNEXURE - 6 RO/SRO: (Para 11.2) Ref. No. Date To ‘The Manager {Pension paying Branch) — ~ Link Branch Sub. Payment of Pension under Employees'Pension Scheme 1995 - Forwarding of Pension Payment Order -000- The Pension Payment Order (Pensioner's & Disburser's portion) in respect of the pensioner named below is forwarded herewith alongwith the following documents. = a) Specimen signature of Pensioner, duly attested: b) Left hand thumb impression of the Pensioner; °) Joint photograph of the Pensioner and his/her spouse. 2 On satisfying the identity of pensioner and after obtaining the signature on the disburser's portion of Pension Payment Order please hand over the peasioner's Portion of the PPO to the pensioner. 3. As per the arrangement entered into with your Bank, please arrange to disburse the pension as per the Pension Payment Order. The pension is required to be credited to the S.B. Account of the pensioner on the last working day of every month. Details of Pensioner : Member's PF PPO No. Alc No. Pensiones’s name ~ Name of the Pension to be credited to S.B. A/e No, _ member__ Amount of Pension Payable Rs. With effect from ‘Yours faithfully, Encl : As in Para 1 above ASSISTANT PROVIDENT FUND COMMISSIONER (PENSION) (P..0,) a7Copy to 1. Smt/Sri. He/she is advised to contact the above addressee in person on or after 1" of the next month to receive the first pension and to collect the Pensioner’s portion of the PPO. 2. The Regional PF Commissioner with reference to his letter No. dated 3. The Assistant PF Commissioner (Accts.) Section No. : Regional Office/Sub-Regional Office with a request to make necessary record on release of pension in Ledger Card and in Form - 9 (Revised) and Form-3 (FPF). 4. Mis __ sess For information ASSISTANT PROVIDENT FUND COMMISSIONER (PENSION) 38Paying Branch _ ANNEXURE - 7 (Para 14.1) Code Address No. — Dates To ‘Shri/Smt. Sub. : Employees’ Pension Scheme 1995 - Payment of Pension - Intimation for appearance. ‘Sir/Madam, ‘Your pension papers including pensioner's half of Pension Payment Order have been received from Employees’ Provident Fund Organisation in this Branch. You are requested to call urgently at this Branch for personal identification and bring with you the following documents on any working day between re —— oO @ Personal copy of the letter issued by the Regional Provident Fund Commissioner. Gi) In the case of deceased member pensioner, certificate of non-re-marriage of widow/widower. Gi) Undertaking for refund of excess amount (if any) overpaid, in form enclosed. tiv) w - Your photo has not been received alongwith PPO. You are requested to bring with you a photograph of children joint passport size photo of yourself and your spouse Yourare also required to open a saving account in your name (not ‘Joint’ or either or ‘survivor’ account) with this branch unless you are already having one. For this purpose, the requisite forms for opening a new account are also enclosed. (Manager/Branch-in-Charge) Delete, if not applicable. 39(wonesmiedi pun wapracig .seakojdurg Jo 20yJ jeuorBoy-qng/2oyjO [euorBoy/suoNoNNsu! s,yUE_ aasossY ropun poptacid aq Kew souNUD Reuomppy) “Yueq Jorg o1jgng 247 Jo youeIG yur] aM Jo s90uJO pareUUON 2Ip Aq parsauE 9q Pinoys AnUD Yoey —-: HON € 7 1 (9) (s) () 3) @ w (Kjavesedos umoys (Odd) 2quaMUCD [Ta peu 2q ‘9g 01 jatyas pur woIs 42p1Q awauided worsted 0) st uouded om -tiad 918eq) worsted wowed uorsuad souorsuag syreuioy orgs wo3y aeq yoga ye qouerg Jo yunoure ATqOOW, 20 30 FoquinN 2m Jo aureN AOLAO TVNOIDTY-€NS/AOLLAO TVNOIOTY AG CASTHOH.LAV SINAWAVd NOISNAd AO WALSIOAY XAGNI 5661 SNAHOS NOISNGd SAAC TAWA (eet - Beg) 8- TAAXNNVANNEXURE - 9 (Para - 14.4 ) 20.3 SPECIMEN OF LETTER OF UNDERTAKING ‘The Branch Manager _ Bank (Bank's Name) Branch (Branch's Name) Dear Sir, Employees’ Pension Scheme 1995 - Payment of pension under P.P.O. NO. Through your Office. -o0o- Inconsideration of your having, at my request, agreed to make payment of pension due to me every month by credit to my account with your bank. I, the undersigned, agree and undertake to refund or make good any amount to which may be credited to my account in excess of the amount to which I am or would be entitled. I further hereby undertake and agree to bind myself and my heirs, successors, executors and aidministrators to indemnify the bank from and against any loss, suffered or incurred by the bank in so crediting my pension to my account under the Scheme and to forthwith pay the same to the bank and also irrevocably authorise the bank to recover the amount due by debit to my said account or any other account/deposits belonging to me in the possession of the bank. Yours faithfully, Signature Name Address Date : Witness : © Signature (it) Signature Name Name Address Address. 41ANNEXURE - 10 (Para - 20.5) Letter of intimation to beneficiary Bak —_ Branch Dated: ose To ‘Smt./Shri _ Subject Claim for Family Pension under Employees’ Pension Scheme, 1995. Dear Madam/Sir, “itis understood that Shri/Sit _. holder P.P.O. No. ha “Please refer tw your letter No. claiming Family Pension after the death ol Pensioner, holder of P.P.O,.No. You are accordingly, requested to call at ______ branch of the bank of any working day between we for personal identification and completion of formalities before payment of family pension 1s commenced 2. You are also requested to furnish to this Bank the documents (forms enclosed) ‘mentioned below () —— Centificate_ of —non-temarriage/(non-remarriage certificate for widow/widower family pensioner) (i) “Undertaking for refunding excess amount, if any paid after commencement of payment of family pension, in form enclosed. 3. You are-also requested to bring with you the foliowing =~ @) Death “Certificate of Shri/Sme pensioner, i) Pension paymem Order (Pensioner's half) Git) Pass Book in case you have already a bank account with the above ‘mentioned branch in your name. deceased ‘Yours faithfully, Manger Branch Bank * Delete whichever is not applicable 42nae damo;foy 105 ad oy ySnoap 201110 PeUOHBay-ang/coyso jeUoroy s2UOISSHUMOD Fg UO! youeg uy (jeag ttm saBereyy Jo oummeusis) 43 ) © ® © @ @ ‘ON 903 pure pasisap st “ON 9p09 puke partsop st suausded yor ano: pue goes — wowked yoryis ynosmp — “ON apog pue atep poe youeig Surfed jo suey Buyded Suns IG_HUFT OM Jo URN “Ia AUT] BuNsINg oUOWSued aM JO OUR “ON O'd'd (@ieondnp ur party aq 04) 7 Bie) Tt SaAXINNVANNEXURE - 12-1. (Para - 23.1) CERTIFICATE TO BE 1 LIFE CERTIFICATE SUBMITTED BY PENS INER Certified that I have seen the pensioner of the pensioner) holder of Pension Payment Order No. and that he is alive on this date. Signature/Thumb impression of pensioner Place Name = Date Designation of authorised Officer Seal ANNEXURE - 12 - I A.___ CERTIFICATE OF NON-RE-MARRIAGE “I hereby declare that I have not been re-married and I undertake to teport such an event promptly to the Pension Disbursing Authority/Bank. Place ; Signature _ Date; ‘Name of the Pensioner P.P.O.No, I certify to the best of my knowledge and belief that the above Seclaration is correct. Signature of a responsible Officer or a well-known Place : Person Date Name __ANNEXURE—13 (Pare~24.1) ‘$.B. ACCOUNT—FACILITIES ‘An extract of Instructions issued by R.B.I, to the Managing Directors of State Bank of India and its Associate Banks and General Managers of Nationalised banks in Connection withthe extension of facility of allowing Cheque Books and acceptance of standing instructions for transfer of funds from the accounle of Central Civil Pensioners drawing pension under the Scheme for payment of Pensions through Public Sector Banks is reproduced below:— 0 ACCEPTANCE OF STANDING INSTRUCTIONS FROM THE PENSIONER:—The matter has been examined by us in consultation with the Government of India, Ministry of Finance, who have advised that acceptance of standing instructions for transfer of funds, ete., from the pensioner's accounts would not be inconsistent with the scheme and that they see no objection to public sector banks dealing with such requests from pensioners at thelr discretion. In exercising such discretion banks may bear in mind the fact that in view of the bonds of indemnity executed by them under the scheme, {they will have to compensate the Government in respect of any payment or wrong payment, ® EXTENDING CHEQUE BOOK FACILITY TO PENSIONERS:— (@) Once the amount of pension andior other pensionery benefit is credited to a pensioner's individual savings/current account, all the operations in the account wil be governed by {general banking rules and practices. Therefore, withdrawals from the account can be permitted by means of chequefwthdrawal slip as in the case of other account holders. Request for issue of cheque book from the pensioners may therefore be considered by banks on mort of €ach case and subject to the rules and regulations framed by individual bank inthis ragara, We feel that withdrawal by means of cheque, if permitted will be of immense help to old pensioners (0) Itisalso not necessary to make it compulsory for a pensioner to come personally to bank's Office to withdraw the amount of his pension every month, when other account holders have the option to withdraw money from their accounts by means of withdrawals slip/cheques ‘through bearer. (Authority F.B.1 (Central Office) Ref. GA, NB, No. 339/GA 64 (11-CVL-Misc.)/86/87, dated Sth August, 1986.) 45a) @ ® 4) ©) © ®) ) (10) (a1) (12) ANNEXURE-14 (Para-3.1) AGREEMENT REGARDING DISBURSEMENT OF PENSION SCHEME UNDER THE EMPLOYES’ PENSION SCHEME-1995. This agreement entered into between (1) The Central Board of Trustees of Employee's provident Fund acting through the Regional Prox “font Fund Commissioner, and (2) The. __ Bank a body corporate constituted under Banking Companies (Acquisition and having its Head Office at_. represented by___ WHEREAS the Trustess of the Central Board of Trustees in whom the administration of employees’ Pension Fund under the Employee's Pension Scheme, 1995 vests, are to make arrangement for disbursement of Pension under the sald scheme; WHEREAS the Trustees requested the Bank to take up disbursement of pension in accordance with the applicable provisions of the Employees’ Pension Scheme, 1995 and the notifications thereunder; and WHEREAS the __Bank in consideration of the request and promise by the Tiustees to remunerate the bank have agreed to take up disbursement of pension under the Employees’ Pension scheme with effect from the ___subject to the parties herein entering into an agreement, Now this agreement entered into between the parties withnesseth; Fund, for the purposes of this agreement shall mean—The monies actually received from the Trustees inthe Trustees" Current Account with the Link Brar-ches specified in para (4) for pension disbursement purposes. ‘The Trustees declare that the amounts in the account are for disbursement of Pension. ‘The Trustees hereby appoint and authorise the. Bank to act as their agents, for the purpose of disbursement of pension under the Employees’ Pension Scheme 1995. ‘These Link Branches where the Trustees CurrenvS.B.account for depositing the money required for pension disbursementis to be kept in branches situated at__ ‘The Trustees shall place requisite funds for disbursoment of pension for the ensuing month in the Currenv/S.B. Account in the Link Branch 10 days in Advance of the month, ‘The Officials form the Flegional Office as well as from the Sub-Regional Office who willbe nominated by the R.P-F.C;for the Regional ofices/Sub-Reegional ofice wi authorise payment of Pension under PPO. “Tho specimen signature of the Officers authorised will be made available tothe Link Branch by the RPRC,, well in advance. ‘The PPO will be authorised by the nominated Officers and both the copies of the PPO will be sent to the Link Branch through the Regional Office/Sub-Regional Office concemed alongwith all other documents. ‘The name of the paying branch from where the payment is required to be made willbe indicated in the Pension Payment Order. The link branch have to make necessary entris in their records and forward both the copies of the PPO to the paying branch speciiod by the pensioner within 3 days under intimation to the pensioner. (On receipt of the documents from the link branch the paying branch shall immediately address the pensioner through a letter advising him to appear atthe branch alongwith the documents mentioned therein for the purpose of identification, Bofore commencing pavment, the paying branch shall obtain, in the case of new pensiener, specimen 46(3 (14) 5) (16) an (18) (19) 20) (21) 3) (24) signature or the thumb impression, as the case may bein the space provided for the purposes in Gisburser’s and pensioner’ portion of the PPO and handover the Pensioners Portion of the PPO to hinvher after proper identitication, Zhe paying branch shall also obtain an undertaking from the pensioner that excess Payment, if any Credited tohis or her account due to delay in receipt of any material information or cuore ‘any bonafide ‘error, can be recovered by the Bank, crite ist appearance of a pensioner atthe paying branch, the designated ofice ofthe Bank wil Satisty himself about the identity ofthe pensioner by ensuring that:— (@) __{hepensioner has produced his/her personal copy of the intimation received directly rom the authority issuing the pension payment order or any documentary proof establishing hrher identity, as pensioner. ©) the porsonal identification marks, I ary in he face or/and hand of the pensioner ‘given in the disburser’s portion of the PPO have been checked, (©) the pensioner bears a close resemblance with the photograph as affixed on the disburser’s Portion of the PPO. (4) the pensioner’ specimen signatures or humb/and fingers/great toe impressions, asthe case De, to be obtrained by him in the space provided forthe purpose in the disburser's portion of the PPO: agroo with the attested signature or thumb/and fingers/great toe impressions received with in PPO: and, (©). fhease where iis not possible to comply withthe requirement a (d) due to the pensioner being handicapped, his/her identity may be verified with reference to (a) to (c) above, rprPaving branch shall keep the disburser's portion ofthe PPO in serial order ina separate fle for EPF Pensioners, in the personal custody of the authorised officer, NNobillshallbe required to be submited by the pensioner for drawing pension. Pension willbe credted to the Bank account of the Pensioner wit the paying branch on the last working day ol the menth or ‘ona specified date not later than 7th day of the following month to which the pension relatos Pension will not be paid in cash or through a joint account with or without elther ar surviver account hs fotal amount involved in making payment of pension in respect of particular region willbe made S¥allable to the Bank in respective link branches of the Bank specified in para 4 by Rogional Officer ‘Sub-Regional Office concerned 10 days in advance alongwith the fullparttoulars of the ammount te tos ‘Organisation in this regard. [The link branch shall prepare paying branch-wise statements showing the amounts to be disbursed in each paying branch and send it (as per the existing procedure) to the paying branch for ensuring timely credit to the pensioner's account on the date fixed for this purpose. ~ ae Paying branch shall be responsible for deduction of income tax at source from the pension Payments in accordance with the rates prescribed from time to time. The paying branch shall maintain a detailed record of pension payments made by from time to time. Every payment shall also be entered on the dsburser’s portion ofthe PPO and authenticated by the auihorised officers of the paying branch, Zhe paying branches shall return the monthly pension payment statement indicating nter-ala the details of pension disbursed by them and forward the same to the link branch for debiting the amount inthe account specialy opened in the link branch by the EPF Organisation, Gaknt branch shall fuish to the respective Regional Provident Fund Commissioners of Regional (CiticerSub Regional Offices the total amount of pension credited in the Bank accounts ot the pensioners with fll details for entering in the Pension Aueit Flegister before 15th of the month fellowing in which ‘advance paid. a7(25) The balance, if any in the account after disbursement of the pension in a particular month will be adjusted in future months by sultably reducing the total monthly payment to be made to the Bank. (26) The Bank shall exercise its functions with adequate care, caution and due digence and shall be lable for any loss or damages occasioned as a result of fraud or gross negligence or wilful misconduet and (oF misdemeanor on the part ofits servants. (27) _Theappointment of the Bank as Agent is for one year from and unless notice in writing in advance of sixty days is given by the Trustees. The appointment shal continue from year to year, on the same terms and conditions, subject however, thal the remuneration herein agreed is revisable every year on mutual negotiations. The Bank shall be entitled to terminate this agreement by giving to the Trustees a notice specifying the date of such termination, which shall not be less than sbvty days affer the date of giving such notice. (28) The service charges shall be 2.5% of the tum over subject to a celling to be decided after mutual negotiations. These rates shall be in force for one year and thereafter the rates shall be revised based ‘onthe actual expenditure incurred during the first year mutual negotiation between the Trustees and the Banks, for maintaining current account bank will not charge any service charges. (29) Thebankshall prepare and maintain such records relating to ts activities and obligations under this ‘agreement in such manner as is usual inthe course of business and/or as may be agreed between the Trustees and Bank. (80) _Inconnection with the operation of this Agreement, the bank and the Trustees may from time to time agree on such provisions interpretative of or in addition to the provisions of this agreement as may, in thier joint opinion, be consistent with the general tenor of the Agreement. Any such interpretative or ‘additional provisions shall be in writing, signed by both the parties and shall be annexed hereto, provided that no such interpretative adkitional provisions made as provided in the preceding sentence ‘would be deemed to be an amendment of this Agreement. (1) If any dispute arises between the parties, the same shall, as far as possible be settled by mutual negotiation and in case of failure of resolution, shall be referred to an arbitration by an arbitrator mutually agreed upon by both the parties. (22) __Anynnotice given hereunder shal be in writing and may be served by sending by pré-paid registered ‘post, facsimile or at the electronic transmission or by Courier to the parties. (23) __Itishereby agreed between the parties hereto that the modaities, procedures, systems or any other aspect relating to such matters shall be in accordance with normal practice and may be fomalised by exchange of letters. In witness whereof each of the parties hereto have signed this agreement al ‘onthe day of for and on behalf of the forand on bahalt of Contra! Board of Trustees Bank ‘of Employees’ Provident Fund Name: Name = Designation = Designation : Witness Witness Name : Name : Designation = Designation Address, Address:ANNEXURE-15 (Para - 12.1) Charge m Bank BANK : Link Branch: Name/Code SERVICE CHARGES DUE FROM EMPLOYEES’ PROVIDENT FUND OFFICE FOR THE MONTH OF (To be sent to Regional Office/Sub-Regional Office on or before 15* of each month) ‘Amount disbursed during the month as per the Annexure : 3 & Annexure : 5 (col. 6) Rs. (Rupees : Please pay Service charges @ 2.5% on total Amount disbursed: Rs. Date : Signature of Manager Link Branch Seal : To ‘The Regional PF Commissioner Regional Office/Sub-Regional Office “9SUBSTITUTE OF PAGE NO, 44 ANNEXURE 12-1 (PARA- 23.1) Original/Duplicate EMPLOYEES’ PROVIDENT FUND ORGANISATION (MINISTRY OF LABOUR) GOVT. OF INDIA EMPLOYEES’ PENSION SCHEME, 1995 u RTIFICATE AND NON-REMARRI ERTIFICATE Instructions : 1. The Life Certificate should be furnished in the format given below by all the Pension beneficiaries including children pensioners; 2. Separate Certificate should be given for each pensioner; 3. Certificate may be given by the Manager of the Bank by which the pension is disbursed; 4. Certificate of Non-remarriage given below (SI. No. II) should be furnished only by the widow/widower receipient of family pension; 5. This certificate should be furnished every year in the month of November; 6. This certificate should be furnished in duplicate, Name ofthe Pensioner nn Bank Branch 1. LIFE CERTIFICATE Certified that I have been the pensioner whose details are given above and that he is alive on this date. ‘Signature/Thumb impression of Pensioner Guardian of Minor Children Pensioner Place Date Signature of the Manager with Bank Seal 1, CERTIFICATE OF NON-REMARRIAGE Thereby declare that I have not been re-married and I undertake to report such an event promptly to the pension Disbursing Authority/Bank. Date Signature/Thumb impression of Pensioners | certify to the best of my knowledge and belief thatthe above declaration is correct. Signature of a responsible officer or a well-known person Place Name __ Date Designation (For the use of Disbursing Branch) Forwarded to Regional PF Commissioner through Link Branch. One copy of the above Certificate is retained. Place ‘Signature of Manager Date Office Seal (For the use of Regional PF Commissioner's Office) Entered in the Computer (Bank Reconciliation statement) for updation (To be preserved in the PPO file) D.E.O. (EDP Section) A.A.O. (Pension Section) 4 RPFC~ Govt. Press, UT, Cha 19174 a ur, 50For Official Use Only S MANUAL OF ACCOUNTING PROCEDURE PART-II EMPLOYEES' PENSION SCHEME, 1995 Employees’ Provident Fund Organisation (Ministry of Labour, Government of India) Head Office : | Bhavishya Nidhi Bhawan, 14, Bhikaiji Cama Place, New Delhi - 110 066 jeTHE EMPLOYEES' PENSION SCHEME, 1995 Chapter CONTENTS Page | Number _ Number TTT J introduction a 7 EPS-1995 Commencement T | pT Kppleabiliy 7 = ‘z J | Membership ~ Compulsory & Optional 3 1 [Connie 2 [Due date 7 3. | Reconciliation of dues & Receipt 10 [TTT Conirbtons from PF Exempt iT] 3. | Contribution due from optees 7] 6. Defaulting Establi ~ n 7, | Lewy of Damages — 7] 4 I &| Application ofthe EPPS 1952 <3 : 3 Power io issue diresion &Inerreaion a ss eee x 7] Exenpiion : a a PP Redland Reeapianes of forme 3 t 7 2. | Option form — 30 [3 | Nontnaion Toa 3 . 5 “Reniseaon Tot - [5] Banking oo 7] : i 5 Tnvetiment a 7 |] Preparaton of chonted smmanyatreseiprind | 32 s | * it 7 %. 1 Age ~ ~ ~ ~ 33 : - [2 [Seniee — 7 : as oe 7 7 > 1. | Benefits ~ Beneficiaries Te . 2,_| Types of benefits ~ ai 3._| Withdrawal benefit 5 i a | Scheme Cerificate 4 5.__| Monthly Member pension . ©_| Reduced Monthly member pension al 7.__| Disabled member pension w x “&. | Commuted value of pension 7 62 9. i ‘Return of capitalChapter CONTENTS Page Number Number ~ 1) Widow Pension 65 Children Pension | 6 a ‘Orphan Pension 70 ~ Disabled Children Pension 7B v)___ Nominee Pension 72 a vi) Payment to guardian 7 - vii) Payment of pension in case the member's 74 whereabout is not known a Debarring a person from receiving benefits 6 8 1 [Transfers 76 = 9 | [Chaim Forms ~ - eaaeiac ‘Aliestation oF claim application —— Tor = Procedure for Receipt and Disposal of Claims-Timne 106 - lien 4] Audit and accepiance of claims & including claims 108 5 from EPF exempted members 3. [Input Data sheet — prepiration ote : 70. 1 [ Employee's master file Ts 2 | Pension Payment Order = 136 7 3._| Pensioner's Master file 138 2 7 Disbursement of Pension and other benelis 1H - Disbursement of Pension through Current Account in at . the designated Bank — 3. | Commission / Service charges 1a . 12. [1 Siraetare of pension wing Ta | Operation of BPS 1995 (Pension Wing in Regional a6 Office /$RO) 3] Cash Book (Current Account) v7 | Fantion oF APFC (Pension) 1 5._| Function of Coniroller of Pension 176 j 6. | Audit setup ~ 178 1B, 1.” Valuation of Pension Fund 179 i 2] Benefits on Revaluation- Procedure is7Chapier ‘CONTENTS Page Number Number 14 [1] Training module under EPS-95 189 5. 1] Computerisation 197 . NOTE: “The Paragraphs inthe Scheme, othe han the above, are dealt with inthe Part 1711 ofthis ManualCHAPTER INTRODUCTION 1.1.1 Consequent to introduction of the Employees’ Pension Scheme, 1995, the need for a working manual is considered essential as the entire operation is aimed at Computer. However, before embarking on the total computerisation and also to meet the requirement of offices that are yet to be equipped with the Computer, the procedure and system of operation of the new Scheme has been attempted to suit the manual operation as well as computerised application. 1.1.2 The Manual of Accounting Procedure (Vol.I - Part -Ill) on Employees’ Family Pension ‘Scheme, 1971, drafted in the year 1982 and updated in the year 1987 may be consulted to deal with the cases that are to be decided under the provision of ceased Employees’ Family Pension Scheme, 1971 7 1.1.3 The provisions of this Manual should be strictly adhered to for uniform operation in all Regional Offices/Sub-Regional Offices and no deviation in the prescribed procedure should be made without the prior approval of the Central Provident Fund Commissioner. The Audit should ensure this and any departure noticed should be highlighted in their reports. EMPLOYEES! PENSION SCHEME, 1995 1.2 COMMENCEMENT 1.2.1. Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 has been amended through-an Ordinance (13 of 1995) to institute Employees' Pension-Scheme-for the Provident Fund subscribers. The Ordinance has been replaced by the Employees’ Provident Fund and Miscellaneous Provisions ( Amendment) Act, 1996 (25th of 1996 dated 16.08.1996) by the Parliament. 1.2.2 The Scheme has come into effect from 16.11.1995. However, the commencement of this Scheme is from 1.4.1999 in respect of certain category of employees. On introduction of Employees’ Pension Scheme, 1995, the Employees’ Family Pension Scheme, 1971 got merged with the Employees’ Pension Scheme, 1995 and it ceased to gperate thereafter. However, the details of family of a member furnished through Form 2 under Employees‘ Family Pension Scheme, 1971/ Employees’ Provident Fund Scheme, 1952 and all orders/ authorisation of Pension Payment Orders issued under the ceased Employees’ FamilyPension Scheme, 1971 should be deemed to have been issued under the Employees’ Pension Scheme, 1995. 1.2.3 Employees’ Family Pension Scheme, 1971 provided pension either to the widpw/ widower or son/daughter only in the case of death of the member, while in service. In other cases, @ lumpsum survivorship benefit was provided. Employees’ Pension Schetne, 1998 Provides for Superannuation Pension, Retirement Pension, Short Service Pension, Permanent and total Disablement Pension to member and Family Pension to widow/widower, Children (Including orphan and disabled children) and nominee. In addition, the Employees" Pension Scheme, 1995 also provides for commuted value of Pension and Return of Capital on certain contingencies. Thus, the Employees’ Pension Scheme, 1995 provides enlarged benefits when compared to the Employees’ Family Pension Scheme, 1971. 12.4 Consequent to framing of the Employees’ Pension Scheme, 1995 under the Employees! Provident Fund and Miscellaneous Provisions Act, 1952 certain provisions of the Act namely, Definitions (Section 2), Employees’ Family Pension Scheme (Section 64 & 5B) and provisions tor_grant.of exemption (Section-17-(16) and- Schedule 3) have been suitably amended. 1.2.5 EMPLOYEES’ PENSION SCHEME, 1995 - PENSION FUND The Central Government has framed the Employees’ Pension Scheme, 1995 under the Provisions of Section 6A of the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, It came into force on 16.11.95. The Pension Scheme may provide for all or any of the matters specified in Schedule Ill of the Act. On framing of the Employees’ Pension Scheme, 1995, the Pension Fund was set up. The following amount are due to be paid to the Pension Fund. (2) 8.1/8% of the basic wages & DA including retaining allowance from the employers share of PF contribution in respect of any-employee who is-@ member of the Penston Scheme, payable by the PF unexempted establishments; (©) 8.1/8% of basic wages and DA including retaining allowance from the employer's share Of PF of he employees of the establishments, exempted under Section 17 of the Act or under Para 27/27 of the Employees’ Provident Fund Scheme, 1952; (c)_ The net assets of the Employees’ Family Pension Fund under the Employees’ Family Pension Scheme, 1971 as on the date of establishment of the Pension Fund; (@) 1.176% of basic wages and D.A. including retaining allowance ét the members of the Employees’ Pension Scheme, 1995 payable by the Central Government after due appropriation by Parliament.The Pension Fund shall vest in and be administered by the Central Board. DISPOSAL OF THE FUND: (1) Subject to the provisions of the Act and the Scheme, the Fund Shall not, except with the prior sanction of the Central Government be expended for any purpose other than the payments envisaged in this Scheme, for continued payment of Family Pension, life assurance benefit and retirement-cum-withdrawal benefit sanctioned under the Employees’ Family Pension Scheme, 1971, prior to the date of introduction of this Scheme or which may be sanctioned under that Scheme after the 16th November, 1995 in respect of cases arising before that date. (2) Not exceeding 16% of the administrative expenses shall be met from and out of the Employees’ Pension Fund. The remaining administrative expenses shall be met from the Administration Accounts set up under the Employees’ Provident Fund Scheme, 1952. The cost of remittance of Pension shall be charged on the Pension Fund. 1.3 “APPLICABILITY 1.3.1 The Employees’ Pension Scheme, 1995 applies to all establishments to which the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 applies. Thus, it includes all the establishments to which exemption from the operation of Employees’ Provident Fund Scheme, 1952 has been granted or Relaxation Order issued. Wherever exemption from the operation of Employees’ Pension Scheme, 1995 is granted to an establishment, the Scheme is not applicable to such establishment from the date it is exempted under Section 17 (1C) of the Act, as may be notified in the Gazette. 1.4 MEMBERSHIP 1.4.1 A member under the Employees’ Pension Scheme, 1995 shall mean, an employee who becomes a member of the Employees’ Pension Fund in accordance with the provisions of the ‘Scheme. ‘Eligible member’ means an employee, who is eligible to join the Employees’ Pension Scheme, 1995. ‘Existing member’ means an existing employee who is a member of the Employees! Family Pension Scheme, 1971. ' The membership under the Employees’ Pension Scheme, 1995 are of two categories viz compulsory and optional. sa a a ooo rl oo uo hiro oS ru nus tera \The following employees are compulsorily required to become the members of the Employees’ Pension Scheme, 1995, {a) The employee, who having been the member of the ceased Employees’ Family Pension ‘Scheme, 1971 and continue in employment on 16.11.1995 provided, he has not attained the age of 58 years as on 16.11.1995; (b) The employee, who has become member of the Provident Fund either in an unexempted or exempted establishment (i.e, establishment exempted from the operation of the Employees’ Provident Fund Scheme, 1952 including employees exempted under Para 27 & 27A of the Employees’ Provident Fund Scheme, 1952) for the first time on orafter 16.11.1995 provided he has not attained the age of 58 years on the date of becoming a member of the provident Fund; (6) An‘excluded employee’, as defined in Para 2 (f) or 80 or 81 of the Employees’ Provident Fund Scheme, 1952, on opting to join the Employees’ Provident Fund Scheme, 1952 will also become a member of the Employees’ Pension Scheme, 1995; provided he has not attained the age of 58 years. (d) The member of the ceased Employees’ Family Pension Scheme, 1971. who was out of employment as on 16.11.1995 and has not withdrawn the benefits payable under EPF & EFP-Scheme, 71 and not attained the age of 60 years on 15.11.95 shall be a member of the Employees’ Pension Scheme, 1995. Amember of the Employoes' Pension Scheme, 1995 retains his membership as long as the benefit accrued to him under the Scheme is not withdrawn. However, his membership shall cease on attaining the age of 58 years A member of the Employees’ Pension Scheme is entitled to carry over the period of his membership from one establishment to the other by availing the facility of Scheme Certificate. In case the due benefit is availed, the membership will cease and hence cannot be carried over. 1.4.2. Cessation of membership 1) _Onattaining the age of 58 years, an employee ceases to be a member of the Employees’ Pension Scheme, 1995 2) ‘Aperson who has drawn the pension (including reduced Pension and disabled pension) also cease to be a member of the Employees’ Pension Scheme, 1995. In case of rejoining an ‘establishment, he will not be eligible to become a membere 1.4.3 MEMBERSHIP (OPTIONAL) The Employees’ Pension Scheme, 1995 provides for option to join the Scheme:- a . (i) Member of the Employees’ Provident Fund or Exempted Provident Fund, but not being a member of the Employees’ Family Pension Scheme, 1971, caneexercise his option only from retrospective effect from 1.3.1971 to become eligible for membership of a Employees’ Family Pension Scheme, 1971 and to qualify for membership in the Employees’ Pension Scheme, 1996 from 16.11.1995, provided he has not attained the ‘age of 60 years as on 15.11.1995. Only from 16.11.95 or thereafter such member is " entitled to draw pension. 9 (ii) The employee who ceased to be a member of the Employees’ Family Pension Scheme, 1971 between 1.4.1993 to 15.11.1995 on account of his attaining the age of 60 years or cessation of employment, can exercise his option to become member of the Employee's Pension Scheme, 1995 from the date of cessation/ exit from the employment; ‘A member who ceased his membership on attaining the age of 60 years between 1.4.1993 - 15.11.1995 and continues in service thereafter, can exercise the option from the date of cessation of his memberhsip on attaining the age of 60 years. « (ii) A meiber who was not in employment as on 1.4.1993 but retains his membership by - virtue of proviso 6 of the ceased Employees’ Family Pension Scheme, 1971 and also retains his PF. membership as on that date, is eligible to exercise option to become a member of the Employees’ Pension Scheme, 1995 provided he has not attained the age of 60 years as on 31.3.1999, (iv) The employee who ceased to be member of the Employees’ Family Pension Scheme, 1971 between 1.4,1999 - 15.11.1995 and died during that period, shall be deemed to have exercised option to join the Employees’ Pension Scheme, 1996 on the date of his, death. (v) Amember of the ceased Employees’ Pension Scheme, 1971 who left service between 1.4.93 & 15.11.95 and died after 16.11.95 without exercising any option to join the Employees' Pension Scheme, 1995, the family would be entitled to Pension provided the member had not attained the age of 58 years as on 15.11.95 and whether availed oF not the withdrawal benefit. However, ifthe member had attained the age of 58 years as on 16.11.1995 and thereafter, member Pension followed by Widow Pension shall be allowed. If the member availed the Withdrawal Benefit during 1.4.93 & 1.11.95, the family would not be entitled for Pension in the event of death of the member on or after 16.11.95,1.44 (i) (iy wy) w) ‘The above persons can exercise their option subject to the following condition: The persons referred against clause (i) & (ji) of Para 1.4.3 should exercise their option in the prescribed form (Form 1). |n the ease of persons referred to in clause (iv), on receipt of a letter from the beneficiary requesting for payment of pension under Employees’ Pension Scheme, 1995 instead of Employees’ Family Pension Scheme, 1971, Regional Office/Sub-Regional Otice should review such cases and take further necessary action, if the beneficiary shall receive higher benefits determined as on the date of death of the member under the Employees’ Pension Scheme , 1995. ‘The Persons referred to in Para 1.4.3 (i) should pay the arrears of both shares of the Family Pension Fund contribution from 1.3.1971 to 15.11.1995 either by diversion from Provident Fund account or by remittance, calculated on the wages reckoned for recovery of Family Pension Fund contribution viz., the contributions which could have been diverted from the Provident Fund (both shares) together with the interest @ 8.5% p.a. The interest should be calculated upto the date of payment. If the wage particulars from 1.3.1971 are not forthcoming from the establishment, the contribution may be calculated on the pay ceiling fixed for payment of Family Pension Fund contribution from time to time with due interest as indicated above. Alternatively, the wages may be Rotionally arrived at with reference to the annuai PF contributions in the ledger card Form4 and the FPF contributions may be worked out. Thus, the maximum amount of diversion would be Rs. 31,550/- upto 15.11.95. In addition, ‘the actual Employees’ Pension Scheme, 1995 contribution due @ 8.33% of the wages from 16.11.1995 onwards should be diverted from the Provident Fund along with interest at the rate declared and manner prescribed under para 60 of the Employees’ Provident Fund ‘Scheme, 1952 The Option should be exercised before attaining the age of 60 years as on 16.11.95 and before authorisation of Provident Fund-dues. A Provident Fund member who has not attained the age of 58 years as on 16.11.1995, may opt before he attains the age of 58 years and before authorisation of his Provident Fund account. Erroneous recovery of Family Pension Fund contributions in respect of non-optee made Subsequent to 1.3.1971 should be diverted to Provident Fund/refunded, wherever account settled. In case, such member /widow desires, they can opt by paying the dues from 1.3.1971 to the date of erroneous recovery. Employees who died on or after 16.11.1995 but without exercising option cannot be given option, except when he was Prevented from opting, on account of ending Writ Petition on the applicabil Sctieme to the establishment. Iheir ow ead nice all the the fom ~y ven Pa. “ts be tion roe tof ves! 8 rate and Net vas ne (vi) The persons referred to in Para 1.4.3 (ji) should refund the retirement-cum-withdrawal benefit, if any, received by him together with Interest @ 8.5% p.a. from the date of payment (date of cheque) of retirement-cum-withdrawal benefit to the date of refund of the amount The beneficiary in respect of the deceased member referred to in Para 1.4.3 (iv) should refund the Life Assurance Benefit paid, if any, together with the interest @ 8.5% from the date of payment (cheque date) of Life Assurance Benefit to the date of refund of the amount, The Famili; Pension paid should, however, be adjusted from the pension payable under Employees Pension Scheme, 1995. 1.4.5 A Provident Fund member, who has finally withdrawn his Provident Fund accumulations prior to 16.11.1995 is not eligible to exercise option to join the Employees’ Pension Scheme, 1995. However, if the part payment is made and the membership is retained as per provisions of Para 26A of the Employees’ Provident Fund Scheme, 1952 he can exercise the option, subject to payment of dues as stated above. Any payment of supplementary/arrears of contribution due to the member on account of wage revision, settlement, etc., by the employer or otherwise and the same is requirad to be released to the member, as supplementary payment shall not be treated as part payment for the above purpose. Ifthe Provident Fund account of the member is fully and finally settled after 16.11.1995 but retained the Pension Fund membership alone on account of his not withdrawing the benefit and he takes up employment in a covered establishment or not he is not required to exercise his option to join the Employees’ Pension Scheme, 1995. He shall become a compulsory member of the Employees’ Pension Scheme, 1995 from the date of his joining the covered establishment. 1.4.6 A Family Pension Fund member, who left service between 1.4,1993 and 15.11.1995 and subsequently died during that period, shall also deemed to have exercised option. If the member has availed retirement-cum-withdrawal benefit under Employees’ Family Pension Scheme, 1971, the amount of benefit availed should be refunded alongwith the interest @ 8.5% calculated from the date of payment (cheque date) to the date on.which the amount is deposited in Account No. 10..1n such cases, the refund may be accepted from the beneficiary under the Employees’ Pension ‘Scheme, 1995. 1.4.7 Family Pension Fund member, who.crossed the age of 58 years but not 60 years before 1.4.1993 and continued in service till the age of 60 and above and left the service between 1.4.1993 and 15.11.1995, is also eligible to exercise option ELIGIBILITY FOR MEMBERSHIP IN RESPECT OF BELATED COVERAGES 1.4.8 _ In the case of belated implementation (retrospective coverage) of the establishment, the ‘employer should be directed to deduct the contribution towards Employees’ Family Pension Scheme,1971 and Employees’ Pension Scheme, 1995 from the date he is liable to implement provisions of the Act and the Schemes and not from a prospective date i.e. date after the issue of coverage letter allotting the Code Number. Wherever the employee's share of contribution for apre-discovery period, is waived, both the shares of Family Pension Fund contributions due upto 15.11.1995 should be diverted from the employeesempioyer’s share of Provident Fund contributions to Employees’ Pension Fund. The contribution due to Employees’ Pension Fund at the statutory rale (presently 8.33%) should also be diverted from: 1@uieiet@85 onwards from the employer's share of Provident Fund contribution. Even in past casagajataied implementation retrospective coverage, similar action should be taken to extend the: eid bienelits under Employees’ Family Pension Scheme, 1971/ Employees’ Pension Scheme, 1885, ‘The belated enrolment should also be regularised accordingly.sof wage very 395 => to utory 2yer's ‘ive amily ralso CHAPTER EKtPLOVHES' PENSION FUND CONTRIBUTION 244 (a) From and out of the Employer's share of PF. contributions payable by the employer in each month under Section 6 of the Act or under the rules of the Provident Fund of the establishment which is exempted under Section 17(1) (a) / (b) of the Act or whose ‘employees are exempted under Para 27/27A of the Employees’ Provident Fund Scheme, 1952, a part of contribution representing 8.33% of the employees’ pay shall be remitted by the employer to the Employees' Pension Fund within 15 days of the close of every month into EPF Account No. 10 viz., Employees’ Pension Fund contribution Account maintained in the State Bank of India (b) Where the pay of the member exceeds Rs. 5000/- per month, the contribution payable shall be limited to the amount payable on his pay of Rs. 5000/- only. However, at the option of the employer and the employee, contribution at 8.1/3% may be paid on pay exceeding Rs. 5000/- per month, from the date of com- mencement of the Scheme or from the date pay exceeds Rs. 5000/- whichever is later. (©) The option should be for the payment of contribution on the pay actually drawn in excess of Ris. 5000/- and will be inforce till the retention of membership. Option once exercised is final. . (4) Option initially given may continue even if his pay increases thereafter and contribu- tions will be deducted on the increased pay from time to time. (@)_ Where the options given for the (full) pay in excess of payc be recovered on that pay and pensionable salary determined subject to ceiling of pay ‘opted and paid. (8) Where the rate of contribution is more than 8.33% a sum equivalent to 8.33% of pay shall bé bifurcated from and out of the employer's share of contribution towards Pen Sion Fund anid depésited ih Account No. 10. (@) The balance of employer's share of contribution shall- be paid as Provident Fund con- tribution fo Employees’ Provident Fund Account No.1 or to Exempted Provident Fund, a8 the case may be. 19, the contribution will(h) The amount of pension contribution shall be calculated to the nearest rupee Le. 50 aise or more to be accounted as next higher rupee and fraction of rupee i.e. less than 50 paise may be ignored. . 2.1.2 The contribution in respect of each member of an unexempted establishment should be reflected in Form 3A (EPF) and submitted by the employer along with Form 6A (EPF) within one month from the close of each financial year. The Form 12A will reflect the dues and remittances in respect of Pension Fund members for a month. 2.1.3 The contribution received in respect of a member after attaining the age of 58 years or on the pay exceeding Ris. 5000/- without the option for payment thereof, should be transferred to Provi- dent Fund account of the member. 2.1.4 The exempted establishments (Exempted from the Employees’ Provident Fund Scheme only) are required to furnish the details of recovery and remittance of contribution in Form 6 (Pension Scheme) every month. The Pension Fund contributions in respect of each member should be reflected in contribution Card in Form 7(PS). It should be submitted to Regional Office along with Form 8 (PS) within one month from the close of every financial year (i.e. 30th April ). 2.1.5. The dues and remittance should be reconciled at the close of each year through the DCB Register. 2.2 DUE DATE FOR PAYMENT OF CONTRIBUTIONS: . 2.2.1. Contributions to the Pension Fund are payable on or before 15th of the month following the ‘month to which the contribution relates. However, 5 days grace period is allowed to the employer to pay the dues. 2.3, RECONCILIATION OF DUES AND RECEIPT Dues and remittances towards pension fund should be watched through Form 12A /6 (PS) and posted in the DCB Register. The procedure for audit and acceptance of dues and remittance is: dealt in Part - | of this Manual The Return in Form 3A /Form 7 (PS) should be sent to EDP Cell to calculate the Pension Fund dues for the month and also to extract the period of non contributory service to Form 24. A tion of remittance made in Account No. 10 ( Pension Fund contribution Account) should also be drawn in Form 6A /Form 8 (PS). If the total Pension Fund Contribution shown in the Form 6A/ Form 8 (PS) is found to agree with the details of dues and remittances shown in the DCB Registerin it would mean that the aggregate of the contribution. shown in the Form 6A /Form & (PS) has been reconciled with the actual receipt as recorded in the Cash Book. All receipt of contributions should be verified with the schedule of receipts received from Cash Sec- 10- 50 nan roe 1e wes ton ‘ovi- sion roe th 10 Ps) vis tion every month. 2.4 CONTRIBUTIONS OF EXEMPTED ESTABLISHMENTS. ‘The Exempted establishments which are having branches at various places will have to render necessary retlims/ deposit Pension Fund contributions to the Regional Provident Fund Com- missioner of the Regional/Sub-Regional Offices, where the Inspection charges are being remitted. Howerver, where the exempted establishments are permitted to deposit the Pension Fund contribu- tign separately with respective Regional Office/ Sub-Regional Office, wherein their Branches/ Offices are located, the same may be accepted 2.5, CONTRIBUTION DUE FROM OPTEES TO THE EMPLOYEES' PENSION SCHEME The employees who are eligible to opt for the Employees’ Pension Scheme, 1995 (wef 1.3.71 only) are required to remit the past period contribution (with interest thereon ), with effect from 1.3.1971. The procedure for remittance has been explained in Chapter 1.4.4 (i) of this part of the Manual. 2.6 DEFAULTING ESTABLISHMENTS The Accounts Section should prepare a defaulter list of establishment through EDP. which have not paid the dues toWwards Employees’ Pension Fund, with reference to the entries in the DCB Register and Schedule of receipt by the Sth of every month and send it to Enforcement Branch for initiating recovery proceedings, and penal action against the defaulting establishment. On receipt of defaulters list from the Accounts Section, Enforcement branch should take expeditious action to recover the dues. None of the pensionary benefits due to any member or beneficiary shall be denied ‘due to non-remittance of contributions by the employers. However, the employers shall not be ab- solved of their liability. 2.7~-~ LEVY OF DAMAGES: 2.7.1 The belated remittance of Pension contribution due to the Employees’ Pension Fund will attract levy of damages under Section 14-B of the Act read with para 5 of the Employees' Pension ‘Scheme, 1995. 27.2 The Accounts Section should prepare list of establishments through the EDP, which have Paid the dues belatedly with raference to entries in DCB Register and Schedule of receipt, by the 5th of every month and send it to Damages Cell. 2.7.3 The procedure for levy of damages is incorporatéd in Part | of this Manual. in274 No. 10. The penal damages realised should be deposited in Employees’ Provident Fund Account | 2.8 _ APPLICATION OFTHE PROVISIONS OF THE EMPLOYEES’ PROVIDENT FUND SCHEME, | 1962 ‘sponding provisions of Employees’ Provident Fund Scheme, 1952 in regard to matters for which | > either there is no provision or there is inadequate provisions in the Employees’ Pension Scheme, 1995. Before invoking this provisions, the proposed application of Employees’ Provident Fund Scheme, | Para 38 of the Employees’ Pension Scheme, 1995 provides for application of the corre- i 1952 should be referred to the Controller of Pension in Regional Office for examination and uniform application with the approval of Central Provident Fund Commissioner, wherever necessary. 2.9 POWER TO ISSUE DIRECTIONS AND INTERPRETATION — He 2.9.1. Any difficulty in the matter of disbursement of Pension and other benefits and implementa tion or securing compliance to enforce the provisions of the Scheme which may arise in the course of working, should be first examined by the concerned Regional Office/Sub Regional Office with refer- ence to the Employees’ Pension Scheme 1995 and the provisions of this manual before taking the | matter with the Controller of Pension of the region concerned. No reference should be made direct i to the Central Office or to the Government of India. All such references should be examined by the Controller of Pension and unresolved issues will be taken up with the Central Provident Fund Com- missioner along with his comments on the specific cases referred to_him. No hypothetical case should be referred to at any stages. ‘The Pension Wing of the Central Office will endorse of a copy of the letter seeking directions from the Central Government to all the Controller of Pension for their information, As and when a decision is received from the Central Government, it should be conveyed to all Controllers. of Pen- sion, Regional Office/Sub-Regional Offices, Training and Audit Wing of the Organisation. 2.9.2 The above procedure should be adopted in regard to seeking of interpretations of the provi- sions of the Employees’ Pension Scheme, 1995. 12punt CHAPTER ME, EXEMPTION EXEMPTION FROM THE OPERATION OF EMPLOYEES’ PENSION SCHEME, 1995 re ‘nich 3.1 Section 17 (1C) of the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952 read with Para 39 of the Employees’ Pension Scheme, 1995 provides for grant of exemption ba from the operation of Employees’ Pension Scheme, 1995. This exemption is applicable to an ae establishment or a class of establishments. (The class of establishment shall be construed as a ‘orm group of establishments functioning under a single corporate body). As such, no exemption can be allowed to an individual employee or class of employees in an establishment from the operation of the Employees’ Pension Scheme 1995. An establishment seeking exemption for its establishment, excluding its contract ~ ‘employees, even in cases where a separate/ sub-code No. is given for the contract employees, is ta not eligible for grant of exemption. saat ‘The establishment which Is already having a Penision Scheme of its own as well as‘an ze | __ establishment which proposes to formulate a Pension Scheme, (wherein the pensionary benefits, ye | are at par or more favourable than the Employees’ Pension Scheme, 1995) may apply for exemption ‘rect | __ from the operation of the Employees' Pension Scheme 1995. au) | 3.4 The authority empowered to grant exemption is the appropriate Government i.e. State/ 7m i Central Government, as the case may be. The appropriate Government is defined under Section vase | 2{@) of the Act. | 35. The establishment ora class of establishments should fulfil the following criteria to become eligible for exemption:- fons ‘The Pensionary benefits available to the employees of the establishment under the existing 1a | _ orthe proposed scheme of the establishment or class of establishments should be at par or more bane favourable than the benefits available under the Employees’ Pension Scheme, 1995 | NON-REMITTANCE OF PENSION CONTRIBUTION PENDING GRANT OF EXEMPTION ove 3.6 There is no provision under the Act! Scheme for issue of relaxation Order for non- implementation of Employees’ Pension Scheme, 1995 pending disposal of application for grant of exemption. However, the establishment, which has sought for exemption, after fulfilling the prescribed conditions and by submitting the requisite documents /certificates to the satisfaction of the Regional Provident Fund Commissioner concerned need not remit employer's share of Contribution to the Pension Fund but should be retained in Provident Fund. In the event the ‘application for exemption is not entertained/rejected, the employer shall be liable to pay the pension contribution together with interest at statutory rate thereon, 37 —_After ensuring that the establishment has fulfilled all the requirments and found considered - fit for grant of exemption, the Regional Provident Fund Commissioner may forward such application {foc grant of exemption to the Central Provident Fund Commissioner for his consideration. 133.8 Wherever the employer has remitted the Pension Fund contribution pending disposal of his application for grant of exemption, on grant of exemption by the appropriate Government, such amount of contribution shall be refunded with interest at statutory rates under Employees' Provident Fund Scheme, 1952. 3.9 ‘The benefits of retirement-cum-withdrawal benefits available to the employees of such es- tablishments under the ceased Employees’ Family Pension Scheme, 1971 as on the date of grant of ‘exemption shall also be paid to the Pension Fund of the establishment subject to the consent of the employees. 3.10 The establishment seeking exemption should submit an application to the appropriate Gov- ‘ernment along with the supporting certficates/documents to the satisfaction of the Regional Provident Fund Commissioner. 3.11. The format of application tobe submitted by the establishment and the connected documents, the contents of the Pension Scheme of the establishment, form for giving consent of majority employees, certificate on enrolment of all category of employees, certificate from the Board of Trustees on investment of Pension Fund, comparative statement of benefits, actuarial certificate, (alongwith the details of valuation made) and form of undertaking are given in the Form A and B’annexed to this Chapter. PROCESSING OF EXEMPTION APPLICATION: 3.12 The Employees’ Pension Scheme, 1995 specifically provides a time limit for disposal of applications seeking exemption. Accordingly, the application should be disposed of within’ a period of six months from the date of its receipt or such further time that may be extended for reasons to be recorded in writing. If the application is not disposed of within the period of six months from the date of its receipt or such further time that may be extended for reasons to be recorded in writing, the exemption applied for shall be deemed to have been granted. The period of six months will count from the date on which the application for exemption is given in complete form to the satisfaction of the Regional Provident Fund Commissioner. 3.13 In order to ensure prompt disposal of applications, the Assistant Provident Fund ‘Commissioner, incharge of exemption should personally monitor the receipt and disposal through @ Watching Register. 3.14 While scrutinising the application, the following checks should be exercised:- (a) whether the application is in the prescribed form; (b) all supporting documents listed out in Form B are received and complete in all respects; (c) whether the benefits compared are at par or more favourable than the Employees’ Pension Scheme, 1995 with particular reference to the provisions relating to coverage, eligibility, entitlement, pensionable salary and quantum of pension; (d) whether the establishment, if exempted from the operations of Employees’ Provident Fund Scheme, 1952 fully complying with the conditions governing the grant of exemption. 3.15 On satisfying that the establishment has fulfilled thie requisite criteria for considering the grant‘of exemption by the appropriate Government, the Regional Provident Fund Commissioner sh6uld forward the application, along with. comparative statement (Annex-H) and his comments to the Central Provident Furid Commissioner through Controller of Pension for obtaining his recommendation. 14this unt Fund Nres- tof oF the ov ielent oats, ‘on the his ol of odot be date ‘he sount Lot eats; res’ ge, dent “on. rthe ner Bto dis 3.16 On receipt of the recommendations of the Central Provident Fund Commissioner, the application alongwith the recommendation of Central Provident Fund Commissioner should be forwarded to the appropriate Government for a decision in the matter of grant of exemption. 3.17 The decision of the Government, on its receipt shall be communicated to the establishment, along with a copy of the Gazette notification, 3.18 ' On grant of exemption, the Enforcement Section shall ensure that the conditions governing grant of exemption are properly compiled. 15i FORM Name of the Estt. & Address:- No. Dated: To The Regional Provident Fund Commissioner” ** By Name to RAP. Exemption Subject Employees’ Pension Scheme, 1995 - Grant of Exemption under Section 17 (1C) of the Act read with Para 39 of the Employees’ Pension Scheme, 1995 - Regarding, Ref.: Establishment's Code No. : Sir, We are enclosing herewith our application addressed to the appropriate authority seeking exemption {rom the operation of the Employees’ Pension Scheme, 1995, to the Employees’ of this establishment under Section 17 (IC) of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952, read with Para 39 of the Employees’ Pension Scheme, 1995, 2 Our establishment has framed a Pension Scheme wherein the pensionary benefits are at par with ‘more favourable than, the benefits provided under the Employees’ Pension Scheme, 1995. 3, ‘The following documentsicertificates (in triplicate) are enclosed herewith: (Application seeking exemption from the appropriate Government; (i) Pension Scheme of the establishment with reference to Annexur (ii) Approved Registered Trust Deed; (iv) 7 Recognition received/applied for the set up of the Pension Fund; (¥) Consent of majority of employees (Annexure-B); (wi) Certificate of the employer providing Pension Scheme to all category of employees associated with the establishment as per Annexure °C"; (vil) Declaration by the Trustees on investment as per Annexure (vii) Actuarial evaluation in Annexure *E* : (ix) Actuary’s Certificate confirming solvency and adequacy of the Fund in Annexure * (*) Certificate of the establishment on submission of Annual Certificate / Accéunts ete. in Annexure: ‘Yours faithfully, Enels: As above NAME & DESIGNATION / SEALe Act ted Form -B Name and address of the Establishment: No. To ‘The Secretary, Ministry/Department of Labour Governmentof (Appropriate Govt) ‘Through: The Regional PF. Commis Sir, ‘Sub: Employees’ Pension Scheme, 1995 - Exemption under Section 17 (10) of the Act read with Para 39 of the Employees! Pension Scheme, 1995 - Requested - Regarding. . Ref: Code No. ‘Our establishment has formulated.a Pension Scheme and established @ Pension Fund for all the employees with effect from ‘Our employees ate members! propose to be members of this Pension Scheme. The Pension Fund has been approved by the Commissioner of Income Tax. Comparing the benefits provided under the Employees’ Pension Scheme, 1995 with that of the benefits provided under the Pension Scheme of this establishment, the benefits under the Company's Pension Scheme is at par with /more favourable than, the benefits which would be otherwise entitled to under the Employees’ Pension Scheme, 1995, 2 In support of the Pension Scheme, the following documents are furnished (2) Pension Scheme ofthe establishment with reference to Annexure "A"; (©) Approves Tust Deed: (©) IT Recognition received /applied for the set up of the Pension Fund; (6) Consent of majority of employees (Annexure -8) (©) Certticate ofthe employer providing Pension Scheme to all category of Employees associated with the establishment asin Annexure (1) Declaration by the Trustees on investment as per Annexure: (9) Actuarial evaluation in Annexure” {(h) Actuary’ certicate confirming solvency and adequacy ofthe Fund in Annexure “F*: () Certificate ofthe establishment on submission of Annual Cerificate / Accounts ete. Annexure 7. a We request you to kindly grant us exemption from the operation of the provisions.of the Employees’ pension Scheme, 1995 with effect from Yours faithfully, “NAME & DESIGNATION / SEAL Encl: As above 7ANNEXURE 'A' PROVISION TO BE MADE INTHE EXEMPTED PENSION FUNDS. ‘Trust Deed and Trust Rules should contain the following: ‘The Employer shail establish a Board of Trustees for the management of the Pension Fund following the directions as may be given by the Central Provident Fund Commissioner or by the appropriate Government, as the case may be from time to time. Such Board of Trustees shall have atleast ‘one employee's representative, 2. ‘The Pension Fund shall vest in the Board of Trustees who will be responsible for and account- ni able to the Employees’ Provident Fund Organisation, inter-alia for proper accounting of the receipts into and payments from the Pension Fund and the balances in their custody. | 3 ‘The Board of Trustees shall meet atleast once in every three months and shall function in accordance with the guidelines that may be issued from time to time by the appropriate Govern- ‘env Central Provident Fund Commissioner or any other Officer authorised by him. | 4 The accounts of the Pension Fund maintained by the Board of Trustees shall be subject to audit by @ qualified independent Chartered Accountant annually. Where considered necessary, the Central Provident Fund Commissioner shall have the right to have the accounts re-audited by any other qualified auditor and the expenses so incurred shall be borne by the employer. 5. ‘A copy of the audited annual Pension Fund accounts together with the audited Balance Sheet of the Fund for each accounting year shall be submitted to the Regional Provident Commissioner within 6 months after the close of the financial year. For this purpose, the financial year of the Pension Fund shall be 1st April to 31st March. | 8. The Employer shall transfer to the Board of Trustees the contribution payable to the Pension Fund by the 16th of each month following the month for which the contribution is payable. The i Employer shall be liable to pay damages for any delay in transter of the funds to the Board of | Trustees. | given by the Government/ Central Provident Fund Commissioner trom time to ime. The securtios Shall be obtained in the name of Board of Trustees and shall be kept in the custody of a Scheduled Bank under the credit control of the Reserve Bank of India, i 7. The Board of Trustees shall invest the monies in the Pension Fund as per directions that may be Failure to make investment as per directions of the Government shall make the Board of Trustees severally and jointly liable to surcharge that may be imposed by the Central Provident Fund Commissioner or any other Officer authorised by him. ‘The Board of Trustees shall maintain a scrip wise register and ensure timely realisation of interest’ redemption proceeds. ‘The Board of Trustees shall maintain detailed accounts to show the Pension contributions received, pension amount disbursed and interest received on the Pension Fund. The Board of Trustees may issue pass books showing their Pension Fund accretion to every employee. These pass books shall remain inthe custody of employees and will be brought up 0 date by the Board on presentation by the, employees. The employer shall make good any loss that may be caused to the Pension Fund to theft, burglary, defalcation, mis-appropriation or any other reason. 18~aing priate ~2ast sount- weipts ansion » The acd of mybe writies rwuled sstees 13. 14. 16. 16. 17. 18. 19. 20. ai. The employer as well as the Board of Trustees shall submit such returns that may be prescribed by the Regional Provident Fund Commissioner/ Central Provident Fund Commissioner/appropriate Government from time to tim Notwithstanding anything contained in the Pension Fund rules of the establishment, if on the cessation of any individual from the membership of the Pension Fund consequent on retiring ‘ffom Service cr on taking up the employment in some other establishment, itis found that the ‘benefits under Pension Fund Rules of the establishment are less favourable as ompared to those under the statutory scheme, the difference shall be borne by the employer. ‘The employer shail bear all the expenses of the administration of the Pension Fund including the maintenance of accounts, submission of returns etc: ‘Tho employer shall display on the Notice Board of the establishment, a copy of the rules of the Pension Fund as approved by the appropriate authority ‘and as_and when amended thereto ‘alongwith a translation ofthe salient points thereof in the language of the majority of he employees. ‘The appropriaie Government may lay down any further conditions for exemption of the establish- ‘ment from the operation of the Statutory Scheme. In the event an employee who is already a member of the Pension Scheme (either in exempted or in unexempted establishment) is employed in his establishment, the employer shall immediately enroll him as a member of Pension Scheme and arrange to have the accumulation in the Pension Fund account of such employee with his previous employer transferred and credited to Pension Fund account. Employer should undertake either to provide or bear the cost for extending managerial and financial expertise to the Pension Fund Trust. Income Tax and other statutory recognition required for operating Pension Fund be obtained and furnished. ‘The exemption will be liable to be concelled for violation of any of the above conditions.The €stablishment i. has advised that they have ¢reated an Exempted Pension Fund at par with that of EPS, 1995. il wo, th folowing undersigned, have opted in favour ots exempted Penson Fund, \] | \ | Names SIGNATURES DATE . ‘ - Hh i i I x li iH ed | \ Hil Hy Attested Establishment: 20We, the duly Constituted attorneys of dohereby confirm: 1 {All permanent employees of this Company have been covered under this scheme. 2. All Temporary employees of this Company have been covered under this scheme. 3. All Casual employees of this Company have been covered under this scheme. 4 All seasonal employees of this Company have been covered under this scheme. 5. All contractor's Labour have been covered under this Scheme. 6. The following employees have not been covered under this Scheme: SIGNATURE OF THE EMPLOYER NAME & DESIGNATION: OFFICIAL SEAL: 21ANNEXURE 'D' We, the Trustees of Employees’ Pension Scheme, do hereby confirm that all the investments of the Fund during the Finan- cial year ending securities has been sold at a loss to the Fund/ any loss on sale of securities has been reimbursed by the Company. , has been made as per approved format of investments. No ‘SIGNATURES: (WITH FULL NAME IN CAPITAL LETTERS) OFFICIAL SEAL TRUSTEES 2ANNEXURE 'E' EVALUATION OF PENSION SCHEME OF THE ESTABLISHMENTS, _Finan- ‘ VIS -AVIS ts, No EMPLOYEES' PENSION SCHEME, 1995 vursed by CRITERION EMPLOYEES’ PENSION PENSION SCHEME SCHEME, 1995 OF THE ESTABLISHMENT 1. Contribution 9.112% of wage 2. Retirement Age 58. 3. Members Pension 1/70 x Salary x service 4, Minimum Pension Rs, 500/- p.m. 8. Maximum Pension 60% of Salary 6. Death in Service widow Pension = man's Pension Children's Pension = 25% of widow Pension Orphan.Pension = 75% of widow Pension - 17. Death ater retirement Widow = 50% of man’s Pension | Children = 25% of widow pension Orphan = 75% of Widow Pension - 8. Bachelors Pension Pension to Nominee after Retirement 9. Pension Options Pension for ite. 90% of original pension for ite, 100 times original pension on death ! of pensioner | 10. Pension increase (On every Actuarial Valuation - a Conclusion SIGNATURE OF THE ACTUARY (WITH FULL NAME IN CAPITAL LETTERS) ADDRESS 23 visite sshANNEXURE. ‘Actuary’s Certificate Includes following items: 1. Liability of the Fund as at 31st March of that year. 2. Asset of the Fund as at Sst March of that year 3. Contribution to the Fund as at 31st March of that year 4, Solvency of the Fund on long term basis. _ 5, Adequacy of the Fund to meet the liability as and when it arises j.e no Cash flow probiem. SIGNATURE OF THE ACTUARY WITH SEAL FULL NAME IN CAPITAL LETTERS: 24tit ANNEXURE 'G' CERTIFICATE OF THE ESTABLISHMENT FOR FURNISHING THE ANNUAL ACCOUNTS / ACTUARIAL VALUATION ETC. I hereby undertake to furnish the following documents certificates by 30th Septem- bat of every year to the Regional Provident Fund Commissioner in respect of the Pension Fund formulated for the employees of Mis. (@) Audited accounts of the Pension Fund by a Chartered Accountant. (©) Annual Actuarial Valuation of the Fund by an Actuary. (©) Confirmation by Trustees that investment of the Fund is as per the pattern. (4) Certiticate contirming that the benefits paid to employees in no case was less than that available under Employees’ Pension Scheme, 1995. Signature Name with designation: Official Seal of the Establishment 25ANNEXURE 'H’ COMPARISION OF ESTABLISHMENT PENSION SCHEME VIS-A-VIS. EMPLOYEES’ PENSION SCHEME, 1995 'S1NO. CRITERION STATUTORY SCHEME ESTABLISHMENT CONCLUSION COMMENTS/ RECO- EPS, 1995 Pension Scheme MMENDATIONSY OF RPFC (INCHARGE OF REGION) @ MEMBERSHIP ‘CONTRIBUTION MONTHLY MEMBERS. PENSION ® “ © © AT PAR ‘SUPERIOR: INFERIOR (© Every employee of the Establishment conti- Duting to EPF Scheme; 1952/Exempted PF. Schome and EFP Scheme,197. (i) Altnew entrants Jolning the ostabish ment wer 16.11.95 (Pare 6) (0) 8.33% of Employor share (i) 1.10% of wages as Govt. share (@) Supsrannuation Pension ‘on complation of eligible service of 20 years and ‘an attaining the age of 58 years, (©) Batrement_Pansion (On completion of ligioe service of 20 years and on retirement betore attaining the age of 58 years. . (6) Short Service Pension (On completion of ‘ligile service of 10 yours ‘more but less than 20 () Eilabie Service: 10 Years (6) Sunsrannuation Age: 58 years 26o @ ® 4. PERMANENT "One months contribution TOTAL to tho Pension Fund is DISABLEMENT required PENSION (Para 15) 5. il GN (a) Retund of conte LEAVING SERVICE bution as por Tai "oO BEFORE for the service less OF RPFC BECOMING than 10 years ~EGION) ELIGIBLE FOR | MONFHLY MEMBER (Para 14) PENSION. (0) Alternatively, Member can obtain scheme corticats retaining the services for future Pension/ Family Pension benefits (Para 12(@)) a 6. PENSION 1170 x Ponsionabio Salary x | FORMULA Pensionabie Service. i (Para 12 (2) 7. PENSIONABLE (a) Contributory Service - SERVICE (©) Can go upto maximum of 40 years. : (©) 2 years bonus woigntage ator completion of 20, years (Para 10) - ©. ROUNDING UP 6 months and above will be OF PENSIONABLE deemed as fll year, less SERVICE than 6 months. - (Parag) { 8. PENSIONABLE 12 months average preceding SALARY to tho date of ext { (Para 14}, 4 10. COMMUTATION 79rd of Pension can be ‘commuted on o° after 15.11.1908 (ara 124) ‘Ye QSTION FOR (a) Three options avaiable OF for reduced Pension ©) 100/80 times ofthe | 1 | | Return of Capital as por tha option exercised. (Para 13) 27 o © ©,@ @) NOMINEE: Pension to Nominee in the PENSION cate of death of Bachelor! Spina operon not ong any sg fay monter (Par 1815) (@) || a) o ) ® © | 19. any (2) Death whe in serves z | PENSION with one month contribution (0) Death away trom service while holding Scheme 1 Contiiate (6) Death a8 Pensioner fount : ‘eligi chldran upto the ago ‘of 25 Yoars alongwith widow Pension, (©) tthe parents are not alive 78% of Widow Pension to each ‘orphan wil be paid fortwo orphans. li concurrently, upto the ago of 25, i years. | (ara 16) ip 18, ACTUARIAL Provision for Annual | VALUATION Valuation exist (Para 32) . 16. GENERAL - (OBSERVATIONS. (PANY) CONTROLLER OF PENSION [RPFC OF (REGION) 284a i ioe me MICE Me AUDIT AND ACCEPTANCE OF FORMS CHAPTER ‘ “The following are the forms designed for implementing the provisions of Ernployees' Pension Scheme, Purpose Option form to join the Employees! Pension Scheme, 1995. Declaration/nomination Form to furnish the list of family members and also the nominee(s) Return of employees required or entitled to become member of the fund on the ‘commencement of Scheme to the Est Monthly return of employees qualifying to become members of the fund during the preceding month Return of employees leaving service of the establishment during the preceding month ‘Statement of contribution due and remitted during the month Contribution card Consolidated employee-wise annual contribution statement Declaration of person taking up employment Ina covered establishment Return of ownership of the establishment Application for claiming the withdrawal benefit and Scheme Certificate Application for claiming Monthly Pension tel this Manual 29 Form prescribed for Unexernpted —_Estts. Estts, exempted for both fromPF ——_un-exern: & only Exom. estts Common - 5 FA Fi2(Revised) F/9 (Revised) F/3 (PS) Fis F/4 (PS) FIO F/S(PS) F124 FIG (PS) FISA FIT (PS) FIGA —FI8 (PS) : : - Fat FIA Fog F/10D ‘The procedure for auit and acceptance of these forms except Form 1,2, 10C & 10D are explained in4.2. AUDIT AND ACCEPTANCE OF FORM 1 - OPTION FORM Employees who have the option to join the Employees’ Pension Scheme, 1996, as indicated in Chapter bof the Manual, should give their option in Form 1. The option for joining the Employees’ Pension Scheme:is subject to payment of contribution due under the ceased Employees’ Family Pension Scheme, 1971 and Employees’ Pension Scheme, 1995. The manner and procedure for calculation of contribution due has already been explained in Chapter 1. Only, after ensuring the realisation of “contribution for the past period, the option form should be accepted. The fact of acceptance of option should be indicated in Form 9 (Revised) / Form3 (PS). The factoof the acceptance of option should also be incorporated in the Employees’ Master file maintained by EDP Section. The ‘option once exercised is final and irrevocable. The option form should be preserved for a period of 3 years. 4.3 FORM 2 (REVISED) - DECLARATION & NOMINATION FORM 4.3.1 The declaration and nomination form is common for both Employees’ Provident Fund and Pension Fund members. It contains two portions one for Employees’ Provident Fund and another for Pension Fund. The particulars relating to the Pension Fund should be sent to the EDP Cell for maintaining the data on the list of family members and also the nominee particulars in the Emiloy- ees’ master file. in addition, the particulars of the member, his service etc., will also be kept re- corded. This form on its receipt should be verified with reference to Form 9 (Revised) /Form 3 (PS). Form 2 (Revised) should be preserved carefully as it is an important document for the purpose of giving pension to a nominee. Any change in the nomination should be accepted and the records updated duly cancelling the earlier nomination in Form 2 (Revised). 4.3.2 The family of a member includes spouse, sons and daughters (including legally adopted children). The children, whose age Is beyond 25 years also falls under the definition of "family. A member is required to execute nomination in favour of a person to receive pension under certain contingencies. The person nominated should fall within the definition of family. A member, who is not married or who does not have a living spouse and children, irrespective of their age or marital status may nominate .a person of his choice. The nomination should be in favour of one person only. If a member acquires a family subsequently, the nomination so made, shall be invalid. (Norhination in favour of spouse has no relevance as the spouse is an automatic beneficiary). As and when the member acquires family he may nominate a person. 4.3.3. The member while applying for pension in Form 10-D, is required to furnish the details of nominee with present address etc. This nomination shall be construed as a motlifcation to the nomination earlier exercised by member, if any. A : 4.3.4 The form of Nomination i.e. Form 2 (Revised) should be verified with the claim in Form 10-D 80 as to ensure the correctness of ‘family’ members. However, the list of ‘family’ members as fur- nished by the member in Form 10-D should be acoepted and acted upon as the position of his family is updated at the time of claiming the pension. When the Form 10-D is preferred by widow/ widower and children, the inclusion of all family members so verified from Form 2 (Revised) should be en- sured. Any omission of persons should be got clarified. Additional children given, if any, in Form 10- D.may be accepted. 30ad and her for Tell for Aploy- kept re- 13 (PS). “ase of records adopted ily. A certain ~is not status amy. ta tion in ‘hen the rails of _to the im 10-D as fur "family widower be en- arm 10- CHAPTER ADMINISTRATION ACCOUNT coe ee eS 6.1.1 “There is no levy of administrative charges from the establishment under the Employees! ‘Scheme, 1995. However, the scheme provides for maintenance of a separate account viz., ie desea Pension Administration Account for recording all the administrative expenses under vari- Budget heads. There is no need to maintain a separate bank account. However, a proforma “aeegunt Should be maintained to record the atiministrative expenditure charged to the pension fund. Pygee Of the total administrative expenditure of the Organisation can be charged to the Pension Fund. Any excess expenditure should be charged td the Employees’ Provident Fund Administration Account. 5.1.2 The cost of remittance of Pension shall not be treated as administrative expenditure and therefore it should not be accounted for while assessing the administrative expenditure. The commis- sion payable to the disbursing agencies and other incidental charges thereto should be charged to the Pension Fund. This also includes the commission payable to the Postal Department for disburse- ‘ment of benefits under the ceased Employees’ Family Pension Scheme, 1971. BANKING 5.2 The procedure regarding the maintenance of Cash Books etc., and the related banking arrangements under the Employees’ Pension Scheme, 1995 are incorporated in Part | of this manual. INVESTMENT © 5.3.1 Consequent to the introduction of Employees’ Pension Scheme, 1995, the net assets that stand to the credit of ceased Employees’ Family Pension Scheme, 1971 as on 16.11.1995 shall stand transferred and merged to the Pension Fund under the Employees’ Pension Scheme, 1995. 5.3.2 Prior to the introduction of Employees’ Pension Scheme, 1995, the Employees’ Family Pen- ‘sion Fund moneys were kept in deposit with the Public Account of the Government of India. $3.8 The accumulations as on 16.11.1995 in the Public Account of Government of India shall __ eaniinue to remain in that account. = “THé Central Government contribution to the Pension Fund @ 1.1/6% of the pay of the mem- ‘@f the Employees’ Pension Scheme, 1995 shall continue to be invested in the Public Account. ‘tS he Central Government allowed interest on such: déposits @ 5.5% upto 31.3.1981, 7.5% ‘ARABI to 31.3.1988 and 8.5% from 1.4.1988 onéards. 315.3.6 All moneys accruing to the Employees’ Pension Fund Account, except the Central Govern- ment contribution, shall be invested in accordance with the pattern of investment prescribed for in- vestment of Employees' Provident Fund moneys. 5.3.7 The method, manner and procedure of investment etc., are explained in Part | of this manus under the caption "Investment". PREPARATION OF CLASSIFIED SUMMARY OF RECEIPT AND PAYMENT AND FINAL ACCOUNTS 5.4 The procedure and the time schedule for the preparation of monthly classified summary Receipts and Payments under Employees Pension Scheme, 1995 and also the final accounts viz. the Receipt and Payment Account in respect of contribution and. Administrative expenses and Bi ance-sheet are incorporated in Part-I of the Manual.CHAPTER 61 AGE: 6.1.1 The age is playing a vital role in determining the eligibility for membership, pension and also the.quantum of pension and other benefits. On attaining the age of 58 years, the member camnasandlipdraw the pension. However, if he is not in employment, he can draw the reduced pension from the age not earlier than 50 years. Thus, the age is to be determined accurately to reckon the benefit. The age should be determined with reference to date of birth. Wherever the date of birth is not given, it shall be determined in the following manner:- i), Where the year of birth is given but not the exact date, 1st July shall be'treated as the date of birth il) Where the year and month are given, the 16th of the month shall be treated as the date of birth; and lil) Where only the age is indicated the member shall be assumed to have completed that.age on that date of the medical certificate accompanying Form 2 and where no medical certificate is attached to Form 2, on the date of filling Form 2. 6.1.2 Onattaining the age of 58 years the member is not required to pay the pension contribu- tion and the benefit under the Scheme are payable. Further, the age as on 16.11.1995 is also relevant to determine the monthly members pension, to the members of the Employees’ Family Pension Scheme 1971, who have become members of Employees’ Pension Scheme 1995. In the case of employees who were already members of the Family Pension Fund, the payment of pension is determined with reference to date of entry into the Pension Scheme, 1995 (16.11.1995). They are divided into three groups i.e. |). those who have not attained the age of 48 years ; li) those who have attained the age of 48 years but less than 53 years; and iii) those who have attained the age of §3 years:or more, 6.1.3 The particulars of age of the member as available in Form 9 (revised) /Form 3(PS) / Farm 2 (Reyised) should be relied upon to determine the eligibility for benefits, etc. > Wherever there is a variation in the date of birth/age is noticed, the age, as furnished through Form 9/3 (PS) and Form 5/4 (PS) alone should be relied upon. .s:All employees, who are below the age of 58 years and on becoming a member of the fae! Provident Fund Scheme, 1962, shall compulsorily become members of the Employ- ‘Scheme 1995.6.1.6 A member, who is enrolled as a member of the Employees’ Provident Fund on attaining the age of 58 years, is not el le to become a member under Employees’ Pension Scheme 1995. Similarly, a member of the Employees’ Pension Scheme on attaining the age of 58 years shall cease to be a member of Employees’ Pension Scheme, 1995 and shall discontinue the payment of Pension contribution, 6.1.7 The completed age of the member alone should be taken into account for all purpose and as such thé question of rounding off of age does not arise. 6.1.8 _ In the case of children, on attaining 18 years of age they become major. Till then, the guardian is to be appointed.to receive the benefit. 6.1.9 Even though the family includes all children irrespective of their age, the lity for pension in respect of children (after the issue of amendment to the Scheme) (except disabled children) is only upto the age of 25 years. 6.1.10 A member is entitled to draw reduced pension at the earliest age of 50 years. However, this age restriction is not applicable to members who left service on account of total and perma- nent disablement and in respect of widow & children pension. SERVICE 6.2.1 Service is defined under the Employees’ Pension Scheme, 1996 under different context. They are past service, actual service, eligible service, pensionable service, contributory service and non-contributory service. The importance of each service in determining the eligibility and quantum of pension is given below: PAST SERVICE: 6.2.2 Past service is the period of service rendered by an existing Family Pension Fund mem- ber from the date of joining Family Pension Fund til 15.11.1995 or the date of exit (i.e. death or leaving service) whichever is earlier. In case of a pensioner, who ceased to be member of the Employees" Family Pension Scheme-1971, between 1.4.1988 to 15.11.1995-due to his exit-or- attainment of 60 years, his past service is the period of service from the date of joining the Employees’ Family Pension Scheme 1971 to the date of exit or attainment of 60 years, whichever is earlier. 6.2.3 The period of past service would mean the period for which Family Pension Fund contri- butions were payable on the: wages due to the members. This includes the period for which the ‘employer had defaulted to pay the contributions and such period should not be construed as break. The period for which the contributions were not payable due to non-eligibility for wages ‘on account of leave on loss of pay, temporary closure of establishment, strike, lockout or of similar nature oF otherwise or for any other reason, should be treated as.break in service and the same is required to be regularised and in the process to ensure the realisation of contribution due for such period. 34attaining ‘scheme d years inue the rurpose hen, the bility for disabled fowever, _verma- _mem- saath or F of the axit or ng the \Ichever Teontri- sh the “ued as "wages _. oF of ne and ‘Ibittion » The benefits due under the Scheme should not be deprived dug to non-aye ilability of <@ption form or non-posting of breaks in service particulars or contribution in the Ledger Card. in ‘such cases, the period of breaks, as furnished by the employer may be accepted. In transfer cates, the petied of breaks as furnished in the Annexure "K" and extracted to Ledger Card, may baakon:. Wherever, there is no details of breaks in service in the Annexure K/ Ledger Gard, it ae ated as iil. sl 25 ROUNDING OF PAST SERVICE: . A member of the Employees’ Pension Scheme 1995 is entitled to past service benefit for the period of past service rendered by him. -For the purpose of determining the total period of Past service, the period of past service for less than 6 months shall be ignored and the total past ‘MesNiee for a period of 6 months and above shall be réuinded to 4 year. ACTUAL SERVICE: 6.2.6 Actual service is the aggregate of period of service from 16.11.1995 or from the date of joining the establishment covered under the Act, whichever is later, to the date of exit from the employment of the establishment (leaving service or death) or attainment of 58 years of age, whichever is earlier. This service includes the period of contributory and also non-contributory Period of service. The period of actual service is calculated to determine the period of eligible Service. The fraction of service for 6 months or more shalll be treated as one year, andless than 6 months shall be ignored, 6.2.7 In the case of employees either employed in @ seasonal establishmenttactory or em- Bloyed seasonally in an establishment, aven if their actual period of service Is less than a year in any year, the period of ‘actual service will be reckoned as one year. 82.8. The unemployment period between two spells of employment periods should be ex- cluded to arrive at the actual service. The Period of non-contributory service during the period of hig employment should not be deducted to arrive at the actual service. However, such non contributory service will have a bearing on the Pensionable service. —- PENSIONABLE SERVICE: }_Pensiénable service Is the service rendered by the member trom 16.11.1998 onwards i whieh Pension Fund contributions have been recéived or receivable, The Pensionable 18.0ne of the factor to determine the quantum of Monthly Member Pension: ~The petiod of pensionable service is arrived at by reducing the period of non-contribu- ICe during the period of employment falling on or attét18.11:1908 tH the date of exit ployment or attainment of §8 years, whichever is earlier from the actual service. The Service fot 6 months or more shall be trétted as Gne yetirid the Service of fesd'thaht say be ignored. . 356.2.11. The period for which the employer defaulted to pay the pension contributions will be treated as pensionable service, as the dues are receivable. 6.2.12. The ‘non-contributory period of service’ of employees employed seasonally in any es- tablishment reckoned aé ' actual service’ shall not be treated as ‘pensionable service’. 6.2.13 Wherever the:pensioriable service is 20 years or more, irrespective of the age, an adi tional weightage of 2 years is to be given, 50 as to determine the quantum of pension. As the Scheme stands as on 31.9.97, the weightage is due to be given only in the year (November) 2015. ELIGIBLE SERVICE 6.2.14 The eligiblity for pension Js determined with roference to ‘eligible service’. This cor prises of the services namely, ‘past service’ and ‘actual service’. The period of past-service vlates to service rendered by the employees under the Employees’ Family Pension Scheme from 1.3.1971 to 15.11.1995. The actual service is the period of service rendared by the employ- ges commencing from a date on of after 16.11.1995 till the date of exit from the employment or attainmont-of 58 years of age, whichever is earlier. The period either under past service or tinder actual service or both, as the case may be, will constitute eligible service. The eligibility or monthly pension to the member is determined with reference to eligible service’ only. The period of ‘past service’ and ‘actual service’ should be rounded off separately to the neares! Yoar to determine the eligibility for pension. If on account of rounding off alone the eligibility is denied such cases may be referred to Central Ottice. 62.15 The method of computing eligible service is as unde! DETERMINATION OF ELIGIBLE SERVICE: 1, Period of Past Service: a) _ Date of leaving service or 15.11.95, whichever Is earlier: b) _ Minus(-) Date of joining FPS, 1971 6) Past Service xxx 4d)" Less- Non contributory service (if not, regularised) 2). Nét Past Service iy ik ( 2. Period of Actual service a), Date of exits.) vs (Leaving date or 58. years)-whichever is earlier Tqiibreaks under BPRS, 1671 requires to be regularioed 36 i i 1 1 i !‘il be b)- Minus (-) (i) 16.11.95 or date of joining EPS; 1995 any @s- Less (ii) Unemployment period between two spells of employment nai 6) Actual service (rounding off) is the 3° liste news ‘mbe) Adi: 1(e) + 2(0) . = com- 6 A period of 10 years eligible service is prescribed to become eligible for pension. This Service ‘gebiugdi of 10 years may be wholly fall either under past service or under actual service or under heme ‘The service rendered by a member of ceased Employees’ Family Pension Scheme 1971 employ- g een termed as‘ past service’ and it should not be misconstrued as ' Pensionable service’. iment or The ‘eligible service’ need not necessarily be a ‘contributory service’. ze or hility for Speriod 6.2.17 The minimum period of 10 years eligible service for entitlement of pension is only for ear to granting member pension (other than disabled pension) and not for widow and children pension. ‘denied 6.3 SALARY 6.3.1. Similar to the term ‘service’ the term ‘salary’ is also equally relevant and it is vital factor In determining the quantum of benefits payable to the member as well as to his family. 8.3.2 The rate of pension contribution is 8.1/3% of the pay. It should be restricted to the fiiaximum pay ceiling of Rs. 5000/- p.m. or at the option of the employee and employer on the fe pay i.e. pay reckoned for PF from the date of commencement of the Scheme or the date on which the pay exceeds Rs. 5000/- whichever is later. _..f 8.3.3 _-The ‘pensionable salary’ is one of the factor to. determine the quantum.of monthly mem- Fs pension. Pensionable salary shall be the average monthly pay drawn on which contribution = ; Apagiiovees’ Pension Fund paid or payable during the contributory period of service in the span Months preceding the date of exit from the empioyment. The total wages during the 12 e Hains span shall be divided by actual number of days for which wages has been drawn and the : a ‘$0 derived shall be multiplied by 80 to. work out the average monthly pay. 28.3.1997Pay earned = ActualNo. Amount ou. a 1. 4/96 3t 4500 2. 86 20 3000 3. 6/86 Nit 5 4. 7196 15 2250 5. 8/96 31 4500 6 9/96 15 3000 7. 10198 30 5900 - 8. 11/98 25 4800. 9. 12186 Nif we 10. 1/97 15 2500 11, 2197 31 5000 12. 3/97 28 5000 2at 39550 Average pay = 39550/241 164.10x 30 = 4923.23 Rounded to Rs. 4923/- NOTE: _ In case of monthly paid employees, weekly holidays need not be shown as non- contributory service. + 6.3.5 Even if the span of pay for 12 months falls prior to 16.11.1995, the average pay should be worked as per the Employees' Pension Scheme. Where there were no wages for the earlie, period of 12 months, then only the period of reckoning should be stretched backward to th~ preceding block of 12 months. For example, if the exit falls on 5.10.96 and where there was no pay. drawn from 9/95 onwards, his block of 12 months will be reckoned from 9/94 to 8/95. 6.3.6. The past service benefit of pension payable to existing members is reckoned with refe! ‘ence to their pay at two different slabs; i.e. salary, upto Rs. 2500/- and salary more th Rs. 2500/-. This salary is with reference to the one drawn on 16.11.95 /Date of exit, whichever * att : ‘The tétrh slaty would rhean pay/wages on which contribution is due, 6.3.7. No average pay need be calculated for arriving at the widow pension payable unde, Table C, which shall be calculated on the pay at the day of death or thé withdrawal benefit pay able under Table A and réturn of contribution under Table D which shall be caiculat&d on the pay at the day of exit from émployment. 38ANNEXURE - 9 ara - 14.4 ) 20.3 SPECIMEN OF LETTER OF UNDERTAKING The Branch Manager _____ Bank (Bank's Name) __ Branch (Branch's Name) Dear Sir, Employees’ Pension Scheme 1995 - Payment of pension under P.P.O. NO. Through your Office. -00- In consideration of your having, at my request, agreed to make payment of pension due to me every month by credit to my account with your bank. I, the undersigned, agree and undertake to refund or make good any amount to which may be credited to my account in excess of the amount to which Iam or would be entitled. further hereby undertake and agree to bind myself and my heirs, successors, executors and administrators to indemnify the bank from and against any loss, suffered or incurred by the bank in so crediting my pension to my account under the Scheme and to forthwith pay the same to the bank and also imevocably authorise the bank to recover the amount due by debit to my said account or any other account/deposits belonging to me in the possession of the bank. Date : Witness : © Signature Name Address 4 Yours faithfully, Signature : Name ‘Address i) Signature Name AddressANNEXURE - 10 (Para - 20.5) Letter of intimation to bes Bank = Branch Dated No. To ‘Smt./Shri, a Subject : Claim for Family Pension under Employees’ Pension Scheme, 1995 Dear Madam/Sir, *It_is understood that Shri/Smt. _ holder of P.P.O.No. _ *Please refer to your letter No. _ claiming Family Pension after he death Pensioner, holder of P.P.O..No. dated __ You are accordingly, requested to call at _ __ branch of the bank of any working day between © for personal identification and completion of formalities before payment of family pension is commenced, 2, You are also requested to furnish to this Bank the documents (forms enclosed) mentioned below : ()—— Centifieate of non-remarriage/(non-remarriage certificate for widow/widower family pensioner) Undertaking for refunding excess amount, if any paid afer commencement of payment of family pension, in form enclosed Gi 3. You are-also requested to bring with you the foliowing + @ Death Certificate of | Shri/Smt pensioner, i) Pension payment Order (Pensioner's half) Git) Pass Book in case you have alteady a bank account with the above ‘mentioned branch in your naine deceased Yours faithfully, Manger _ Branch — Bank * Delete whichever is not applicable 42(reag cgi sodeueyy Jo a3 youerg quit wasord otp ySnomp RO 334-GNS/S9UjO [euoI3ay FURUO Yq [eUOHOY OM, tose dnaoyoy 40} oL (9) ©) ) @ @ @ “ON ap o> pure parisap st ON 209 pue pastsap st qwausced youya ysnos pue youesg — quausted yom yfnomp “ON apop pus avep pue youerg Turked so owen Surfed Sunsixq ACYL om jo oweN “ag yur] Sunsixy JouoIsuag ao FUN “ON O'd'd wae (@reondnp uy party aq 03) C7 Bed) 11> RNXINNV 43ANNEXURE - 12-1, (Para - 23.1) CERTIFICATE TO BE SUBMI 1 LIFE CERTIFICATE IONER Certified that I have seen the pensioner of the pensioner) holder of Pension Payment Order No. and that he is alive on this date. (Name Signature/Thumb impression of pensioner Place Name faeenete et Date Designation of authorised Officer Seal. ANNEXURE - 12 - I M.___ CERTIFICATE OF NON-RE-MARRIAGE *I hereby declare that I have not been re-married and I undertake to Teport such an event promptly to the Pension Disbursing Authority/Bank. Place : Signature. _ Date: Name of the Pensioner _ P.P.O. No. | to the best of my knowledge and belief that the above eclaration is correct, Signature of a responsible Officer of a well-known, Place : Person Date Name a Designation = “4ANNEXURE—13 (Paro~24.1) S.B. ACCOUNT—FACILITIES ‘An extract of Instructions issued by R.B.|. to the Managing Directors of State Bank of India and its Associate Banks and General Managers of Nationalised banks in Corinection with the extension of facil of allowing Cheque Books and acceptance of standing instructions for transfer of funds from the accounts of Central Civil Pensioners drawing pension under the Scheme for payment of Pensions through Public Sector Banks is reproduced below:— 0 ACCEPTANCE OF STANDING INSTRUCTIONS FROM THE PENSIONER: —The matter has been examined by us in consultation with the Government of India, Ministry of Finance, who have advised that acceptance of standing instructions for transfer of funds, etc., from the pensioner’s accounts would not be inconsistent with the scheme and that they see no objection to public sector banks dealing with such requests from pensioners at their discretion. In exercising such discretion banks ay bear in mind the fact that in view of the bonds of indemnity executed by them under the schem they will have to compensate the Government in respect of any payment or wrong payment wo EXTENDING CHEQUE BOOK FACILITY TO PENSIONERS:— (@) Once the amount of pension andor other pensionery benefit is credited to a pensioner's individual savings/current account. all the operations in the account will be governed by {general banking rules and practices, Therefore, withdrawals from the account can be permitted by means of cheque/withdrawal slip as in the case of other account holders. Request for issue of cheque book from the pensioners may therefore be considered by banks on merit of each case and subject to the rules and regulations framed by individual bank in this regard. We fee! that withdrawal by means of cheque, if permitted will be of immense help to old pensioners, (©) Itisalso not necessary to make it compulsory for a pensioner to come personally to bank's office to withdraw the amount of his pension every month, when other account holders have the option to withdraw money from their accounts by means of withdrawale slip/cheques through bearer, (Authority R.B.|. (Central Office) Ref. GA, NB. No. S93/GA 64 (11-CVL-Misc.)/86/87, dated Sth August, 1986.)a) 2) @ 4) (5) 6) ® @) (10) ay (12) ANNEXURE-14 (Para-3.1) AGREEMENT REGARDING DISBURSEMENT OF PENSION SCHEME UNDER THE EMPLOYES’ PENSION SCHEME-1995, This agreement entered into between (1) The Central Board of Trustees of Employee's provident Fund acting through the Regional Prov dent Fund Commissioner, and (2)The___. (Acquisition and by____ WHEREAS the Trustess of the Central Board of Trustees in whom the administration of employees’ Pension Fund under the Employee's Pension Scheme, 1995 vests, are to make arrangement for disbursement of Pension under the said scheme; WHEREAS the Trustees requested the Bank to take Up disbursement of pension in accordance with the applicable provisions of the Employees’ Pension ‘Scheme, 1995 and the notifications thereunder; and WHEREAS the _____Bank in consideration of the request and promise by the “Trustees to rernunerate the bank have agreed to take up disbursement of pension under the Employees’ Pension scheme with effect fromthe ___ subject to the parties herein entering into an agreement. ______Bank a body corporate constituted under Banking Companies faving We Head Office at_, represented Now this agreement entered into between the parties withnesseth; Fund, for the purposes of this agreement shall mean—The monias actually received from the Trustees inthe Trustees’ Currext Account with the Link Brar hes specified in para (4) for pension disbursement purposes. ‘The Trustees declare that the amounts in the account are for disbursement of Pension. ‘The Trustees hereby appoint and authorise the_ Bank to act as their agents, for the purpose of disbursement of pension under the Employees’ Pension Scheme 1995. ‘These Link Branches where the Trustees Currenv/S.B.account for depositing the money required for pension disbursement is to be kept in branches situated at The Trustees shall place requisite funds for disbursement of pension for the ensuing month in the Curren/S.8. Account inthe Link Branch 10 days in Advance of the month. ‘The Officials form the Regional Office as well as from the Sub-Regional Office who will be nominated by the R.PF.C;; for the Regional offices/Sub-Regional office will authorise payment of Pension under PPO. z ‘The specimen signature of the Officers authorised will be made available to the Link Branch by the R.PRC., well in advance. ‘The PPO will be authorised by the nominated Officers and both the copies of the PPO will be sent to the Link Branch through the Regional Office/Sub-Regional Office concemed alongwith all other documents, ‘The name of the paying branch from where the payment is required to be made willbe indicated in the Pension Payment Order. ‘The link branch have to make necessary entries in their records and forward both the copies of the PPO to the paying branch specified by the pensioner within 3 days under intimation to the pensioner. ‘On receipt of the documents from the link branch the paying branch shall immediately address the pensioner through a letter advising him to appear at the branch alongwith the documents mentioned therein for the purpose of identification. Before commencing pavment, the paying branch shall obtain, in the case of new pensioner, specimen 46(13) (14) a7, (18) (19) 20) e) 3) (24) Sacauze ofthe thumb impression, as the case may be in the space provided for the purposes in fisbursers and pensioner’ portion of the PPO and handover the Pensioners portion of the PPO to hinvher after proper identification, The paving branch shall also obtain an undertaking from the pensioner that excess payment, f any Created tohis or her account due to delay in receipt of any material information or due to any bonatide error, can be recovered by the Bank On the first appearance of a Pensioner at the paying branch, the designated office of the Bank will Satisfy himself about the identity of the pensioner by ensuring that:— {@) _thepensioner has produced hisher personal copy ofthe intimation received directly from the author issuing the pension payment order or any documentary proof establishing his/her Identity, as pensioner. ©) the personal dentitcation marks, i ary inthe face or/and hand ofthe pensioner given inthe disburser's portion of the PPO have been checked. (©) __ the pensioner bears a close resemblance withthe photograph as afficed on the disburser’s Portion of the PPO, (3) the pensioners specimen signatures or thumb/and fingers/great toe impressions, as the case ‘may be, to be obtrained by him in he space provided forthe purpose in the disbursers portion of the PPO: agree wit the attested signature or thumb/and fingers/great toe Impressions received with in PPO: and; (©) in case where it is not possible to comply with the requirement at (d) due to the pensioner being handicapped, his/her identity may be verified with reference to (a) to (0) above. Caz having branch shall keep the disburser’s portion ofthe PPO in serial order in a separate fle for EPF Pensioners, in the personal custody of the authorised officer. No ill shall be required to be submitted by the pensioner for drawing pension. Pension willbe credited {othe Bank account of the Pensioner with the paying branch on the last working day of the month or (oN a specitiod date not later than 7th day ofthe following month to which the pension relates Pension will not be paid in cash or through a joint account with or without elther or surviver account; The total amount involved in making payment of pension in respect of particular region willbe made vailable to the Bank in respective link branches of the Bank specified in para 4 by Regional Orica’ ‘Sub-Regional Office concemed 10 days in advance alongwith the full particulars of the amount to be paid. There may be a ist manually prepared orn a floppy after the software is developed by the EPI ‘Organisation in this regard. The link branch shail prepare Paying branch-wise statements showing the amounts to be disburssed {each paying branch and send it (as per the existing procedure) to the paying branch for ensuring timely credit to the pensioner’s account on the date fixed for this purpose = ‘The Paying branch shall be responsible for deduction of income tax at source from the pension Payments in accordance with the rates prescribed from time to time. The paying branch shall maintain a detailed record of pension payments made by it from time to time. Every payment shal also be entered on the disbursers portion of the PPO and authenticated by the ‘authorised officers of the paying branch, The paying branches shall return the monthly pension payment statement indicating inter-alia the {elas of pension disbursed by therm and forward the same to the link branch for debiting the amount inthe account specially opened in the link branch by the EPF Organisation, {The link branch shallfurish othe respective Regional Provident Fund Commissioners of Regional OfficetSub Regional Offices the total amount of pension credited in the Bankaccourta of the pensioners ‘wih fll detals for entering in the Pension Audit Register before 1th ofthe month folowing in which advance paid, a7(25) The balance, if any in the account after disbursement of the pension in a particular month will be adjusted in future months by suitably reducing the total monthly payment to be made to the Bank. (26) The Bank shall exercise its functions with adequate care, caution and due diigence and shallbe liable for any loss or damages occasioned as a result of fraud or gross negligence or wilful misconduct and (or misdemeanor on the part of ts servants. (27) _The.appointment of the Bank as Agent is for one year from _and unless notice in writing in advance of sixty days is given by the Trustees. The appointment shall continue from year to year, on the same terms and conditions, subject however, thal the remuneration herein agreed le revisable ‘every year on mutual negotiations. The Bank shall be entitled to terminatethis agreement by giving to the Trustees a notice specitying the date of suchtermination, which shall not be less than sixty days after the date of giving such natic (28) Th service charges shall be 2.5% of the tun over subject to a ceiling to be decided after mutual negotiations. These rates shall be in force for one year and thereafter the rates shalibe revised based ‘on the actual expenditure incurred during the first year mutual negotiation between the Trustees and the Banks, for maintaining current account bank will nt charge any service charges. 29) Thebank shall prepare and maintain such records relating to its activities and obligations under this agreement in such manner as is usual in the course of business and/or as may be agreed between the Trustees and Bank. (80) _Inconnection with the operation of this Agreement, the bank and the Trustees may from time to time ‘agree on such provisions interpretative of or in addition to the provisions of this agreement as may, in thier joint opinion, be consistant with the general tenor of the Agreement. Any such interpretative or ‘additional provisions shall be in writing, signed by both the parties and shall be annexed herato, provided that no such interpretative additional provisions made as provided in the preceding sentence would be deemed to be an amendment of this Agreement. (81) __Iany dispute arises between the parties, the same shall, as far as possible be settled by mutual negotiation and in case of failure of resolution, shall be referred to an arbitration by an arbitrator ‘mutually agreed upon by both the parties. (22) __Anynnotice given hereunder shall be in writing and may be served by sending by pré-paid registered ‘post, facsimile or at the électronic transmission or by Courier to the parties. (83) __Itis hereby agreed between the parties hereto that the modalities, procedures, systems or any other aspect relating to such matters shallbe in accordance with normal practice and may be fomalised by exchange of letters. In witness whereof each of the parties hereto have signed this agreement at nee on is NE yc for and on behalf of the for and on bahalt of Central Board of Trustees Bank ‘of Employees’ Provident Fund Name : Name Designation : Designation : Waness Witness Name : Name: Designation : Designation : Address ‘AddressANNEXURE-15 (Para - 12.1) emand from Bank BANK Link Branch ; — Name/Code SERVICE CHARGES DUE FROM EMPLOYEES’ PROVIDENT FUND OFFICE FOR THE MONTH OF (To be sent to Regional Office/Sub-Regional Office on or before 15% of each month) Amount disbursed during the month ‘as per the Annexure : 3 & Annexure : 5 (col. 6) Rs. (Rupees: Please pay Service charges @ 2.5% on total Amount disbursed: Rs. Date : Signature of Manager Link Branch Seal : To The Regional PF Commissioner Regional Office/Sub-Regional Office 0‘SUBSTITUTE OF PAGE NO. 44 ANNEXURE 12-1 (PARA - 23.1) OriginavDuplicate EMPLOYEES’ PROVIDENT FUND ORGANISATION (MINISTRY OF LABOUR) GOVT. OF INDIA EMPLOYEES’ PENSION SCHEME, 1995 LIFE CERTIFICATE AND NON-REMARRIAGE CERTIFICATE Instructions : The Life Certificate shouldbe furished i the format given below by all the Pension beneficiaries including children pensioners; 2. Separate Certificate should be given for each pensioner; 3. Certificate may be given by the Manager ofthe Bank by which the pension is disbursed; 4. Certificate of Non-remarriage given below (SI. No. II) should be furnished only by the widowhwidower receipient of family pension; 5. This certificate should be furnished every year in the month of November; 6 Certificate should be furnished in duplicate Name ofthe Pensioner PP.O.No._ Bank Branch SB. Ale No. _ 1. LIFE CERTIFICATE Centfied that 1 have been the pensioner whose details are given above and that he is alive on this date ‘Signature/Thumb impression of Pensioner Guardian of Minor Children Pensioner Place Date : Signature of the Manager with Bank Seal UL, CERTIFICATE OF NON-REMARRIAGE Thereby declare that { have not been re-married and I undertake to report such an event promptly to the pension Disbursing Authority/Bank. Date Signature/Thumb impression of Pensioners "certify to the best of my knowledge and belief thatthe above declaration is correct. Signature of a responsible officer or a well-known person Place Name Date : Designation (For the use of Disbursing Branch) Forwarded to Regional PF Commissioner through Link Branch. One copy ofthe above Certificate is retained. Place Signature of Manager Date Office Seal (For the use of Regional PF Commissioner's Office) Entered in the Computer (Bank Reconciliation statement) for updation, (To be preserved in the PPO file) D.E.O. (EDP Section) A.A.O. (Pension Section) 19174 RPEC Goo. Press, UT, Ch 50