CPS CONTRIBUTORY PROVIDENT FUND CUM GRATUITY SCHEME GIDELINES AND CONDITIONS
CONTRIBUTORY PROVIDENT FUND CUM GRATUITY SCHEME
CONTRIBUTORY PROVIDENT FUND
Ø i)Every whole time non pensionable employee of the University who opts for the Contributory Provident Fund shall be entitled to subscribe to the
Ø University Contributory Provident Fund after continuous service of one year
Ø with effect from the date of appointment.
Ø (ii)Person who have retired from Government or a University or any of its
Ø colleges, if re employed in the University may be permitted to subscribe to the Contributory Provident Fund, provided that where the term of re
Ø -employment is initially for a year or less but is later extended so as to exceed one year, the contribution with interest will be credited only after the com pletion of one year’s re employed service. The contribution with interest shall be payable for the entire period for which the re employed pensioner is allowed to contribut to the Contributory Provident Fund if such period exceeds one year.
Ø i)Every employee entitled to subscribe to the Contributory Provident Fund shall be required to subscribe to the Fund.
Ø (ii)No employee of the University shall be entitled to the benefits of the
Ø Contributory Provident Fund whose service in the University entitles
Ø him to a pension or on whose account the University contributes towards his pension and leave allowance or who has been appointed by the University on a consolidated salary on special terms precluding him from subscribing to the Provident Fund or on a partime or daily wage basis.
Ø (iii)The Board of Management may in the case of a person appointed to a
Ø substantive post, permit the transfer to the Contributory Provident Fund of any moneys standing to his credit in any recognised Provident Fund to which he was a subscriber immediately before his appointment in the University, and may, with his consent, make such arrangements with the authorities of that other Provident Fund for the purpose of the transfer.
Ø (iv)If an employee admitted to the benefit of the Fund was previously a subscriberto any other Contributory or Non Contributory Fund of the Central Government/ State Government or of a body corporate, owned or controlle by Government or Universities/ Colleges or Institutions of University status or an autonomous organisation registered under the Societies Registration Act of 1860, immediately before his appointment in the University, the amount of his subscriptions and the Government contributions in the other Contributory Provident Fund or the amount of
Ø his subscriptions in the Non Contributory Fund, as the case may be, together with interest thereon, shall be transferred to
Ø his credit in the Fund.
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