Leave salary and pension contributions

Infrastructure197676 sections11 chapters

Chapter VII Chapter VII

Statutory text

(1) In the case of officers and employees transferred from service of the Government to that of the Board, the Government shall credit the leave salary and pension contribution of such officers and employees to the Board for each year of their service under the Government on the notified date and they shall be entitled to the benefit of leave at their credit on that date. The pension contribution paid by the Government to the Board shall form the nucleus of the contributory provident fund to which they shall be admitted and they shall have no claim on the Government in respect of leave and pension.
(2) Each officer and employee transferred from the service of the Government to that of the Board shall, within a period of six months from the date of such transfer or from the date of commencement of the Punjab Water Supply and Sewerage Board,(Amendment)Act,1978, whichever period expires later, exercise his option whether he wishes to retain pension and gratuity benefits admissible in Government service or wishes to be governed by the contributory provident fund rules of the Board and the option once exercised shall be final. Provided that if any officer or employee fails to exercise his option within the aforesaid period, he shall be deemed to have exercised option for retaining pension and gratuity benefits to which he was entitled immediately before his services were transferred to the Board.)

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