STATUTE No. 26
PROVIDENT FUND
[ Refer Section 35 (e) ]

1. In this Statute -
         (a) " Salary" in relation to a employee means monthly salary, and includes all fixed monthly allowances, but dose not
                include any other allowance;
         (b) " Employee" means every whole-time officer, teacher or other employee of the University appointed
                 permanently to a substantive appointment carrying a salary of Rs. 60 /- per mensem or more and includes
                 those appointed on contract for a definite period of not less than three years but dose not include persons
                 whose services have been lent to the University by Government or who is on leave from a government post.
         (c) " Subscriber" means an employee on whose behalf a deposit is made under this Statute.
                 Note:- Persons appointed on probation to a permanent post shall be eligible to subscribe to the fund.
         (d) " Saving Bank" means a saving bank of any post Office or any scheduled bank as defined in Reserve Bank of
                 India Act 1934 ( No. 11 of 1934).
         (e) "Interest" means the interest which is paid on a deposit in the saving bank of the Post office or the Scheduled
                banks from time to time.
         (f) " Dependent" means any of the following relations of a deceased subscriber to provident Fund viz., a wife,
                husband, son, daughter of the deceased son, parents , minor brothers and unmarried sister, and where no
                parent of the subscriber is alive , a paternal grand-parent.

  2. Every employee of the University shall subscribe to the Provident Fund at the rate of 8-1/3 percent of his salary for
      which an account will be opened in the saving Bank. The deduction shall be made by the University upon every salary
      bill presented. In the calculation of this deduction , fractions of a rupee shall be omitted. The amount so deducted
      together with the contribution by the University under para 3 shall be deposited in the Saving Bank. The payments
      in respect of the monthly deductions and contributions shall, so for as possible be made into the bank within two
      days of the receipt of the money in order that interest may accrue. The following procedure will be adopted :-

                               " The Post Office or the scheduled bank will open an account in the name of the individual subscriber
  to the Provident Fund. The account will be operated by the Registrar only and all sums to be credited in these accounts
  shall be sent to the post office or the Bank accompanied by -
                     (a) Savings Bank pass book; and
                     (b) a list in such form as may be prescribed by the Registrar showing in detail the amount to be credited
                           to each account.

  Notes:- (i) Subscribers to the Provident Fund are given option of raising their subscription to the Provident fund upto
                    any amount not exceeding the pay drawn by them.
               (ii) A subscriber may , at his option , not subscribe during leave. He shall intimate his option not to subscribe
                    during leave by written communication to the Registrar before proceeding on leave. Failure to make due
                    and timely shall be deemed to constitute an option to subscribe during leave. The subscription of the
                    subscriber while on leave with allowance shall be assessed on the full amount of his pay and not on the leave
                    salary,
               (iii) No subscriber shall subscribe to the Fund while on leave half average pay or leave without pay or absent
                     without leave or while under suspension. "The amount of subscription of the employee will be so invested
                     by the Registra in post office or bank that the employee gets an interest of not less than 12% per annum or
                     the rates of interest decided by the State Govt. From time to time on his accumulations in Fund. In case the
                     rate of interest falls short of the rate of 12% per annum or the rate as fixed by the Govt. from time to time
                     calculated on G.P.F. Accounts, the difference shall be made good by the University from the Pension &
                     Gratuity Fund (UNIPENGRAF) after obtaining prior approval from the Finance Officer ( Pension.)

  3. The University shall make a contribution at the rate of 12 percent of salary in the case of subscribers drawing a salary
       of Rs. 500 or less, 10 percent in the case of subscribers drawing a salary of more than Rs. 500 but less than Rs.
       1000 and 8-1/3 percent in the case of subscribers drawing a salary of or over Rs. 1000.

                          Provided that where immediately prior to the coming into force of this Statute a subscriber was entitled
  under the Statutes or the Ordinance made under any enactment repeated under section 2 of the Adhiniyam , to a rate
  of contribution by the University different from that given above, he shall have the option to elect either the rate at which
  he was earlier entitled to the contribution of the University or the rate as given above.

                          Provided further that no contribution shall be made by the University out of its funds for the period
  during which a subscriber dose not or is not permitted to subscribe to the fund.

                           Provided further that the provisions of this para of the statute will be applicable only in respect of the
  employees who are not covered under the pension and gratuity scheme of the University but continue to be governed
  by the Contributory Provident fund scheme.

  4.     (i)  Amount of the Provident fund may be invested in the post office cash Certificates, Govt. Securities, Fixed
               Deposit Schemes of the Nationalised Banks, Govt. undertaking , LIC Mutual fund or unit trust of India so
               that the employees get an interest of not less than 12 % per annum or even more.
                            Investment in the post office Cash Certificates or in Government Securities or in fixed deposit with the
              bank of the amount to the credit of a subscriber in his provident fund is also permissible if the subscriber so
              desires on the condition that no security / F.D.R. of the face value of less than Rs. 100/- is purchased at
              one time.
         (ii)  The Post Office Cash Certificates, securities and fixed deposit receipts shall remain in the custody of the
               Registrar.

  5.   The Kulpati may , under such conditions as may be laid down by him, permit the payment of premia on life
        assurance policy or policies on the life of the subscriber out of his personal subscription to the Provident fund
       Account under para 2 above . The amount to be deposited in the saving bank account of the subscriber shall be
       reduced to the extent of sub premia. In all such cases the Life Insurance policy for which the premia are so paid
       shall be assigned in favour of the University.
                                             On the retirement of the subscriber from the service of the University the policy shall be
  reassigned to him by the University. In case of the maturity of the Policy during the service of the subscriber in the
  University, the full amount of the policy shall be credited to the Provident Fund of the subscriber. In case of the death
  of the subscriber during the service of the University, the full amount of the policy shall be paid to the legal representative
  of the deceased entitled to the provident fund.

  6.   (i)  Withdrawal will be permitted when a subscriber's service in the University come to an end by his retirement,
              resignation , death or otherwise provided that-
             (a)  no employee whose services have been dispensed with for what, in the opinion of the Executive Council, is
                   gross misconduct, shall be entitled to receive the amount of the contribution made by the University on his
                   behalf and the interest thereon;
             (b)  no employee shall be entitled to receive the amount contributed by the University on his behalf and the
                    interest thereon, unless he had been in the service of the University, for continuous period of 12 months
                    from the date he has been allowed to subscribe to the Provident Fund and has been permitted to resign
                    his appointment.
        (ii)  Any contribution and interest thereon withheld under this statute shall belong to the University and shall be
               credited to the University Fund.

  7.     The Kulpati may permit a subscriber to take a temporary advance from the amount standing at the credit of he
          subscriber in the Fund temporary advance will be admissible for the following purposes :
            (i)  To pay expenses in connection with the prolonged illness of the subscriber or any person actually dependent
                 on him.

  N.B :- (i) Expenses connected with prolonged illness include expenses incurred on the purchase of artificial teeth and
                  hearing sets viz., battery hearing instruments.
            (ii)  to pay for overseas passage for reasons of health or education of the subscriber or any person actually
                 depending on him,
            (iii)  to meet the cost of education of the subscriber or any person actually dependent on him,
            (iv)  to pay obligatory expenses appropriate to the subscriber's status which by customary usage the subscriber
                   has to incur in connection with marriage or other ceremonies of the subscriber or marriage, funeral and other
                   ceremonies of any person actually dependent on him,
             (v)  to make good the loss of University money in the interest of the subscriber,
            (vi)  to meet expenses in connection with any departmental enquiry or legal proceedings in which the subscriber is
                   a party,
            (vii) to meet the expenses connected with the purchase of site for the subscriber's building and erection of and
                   repairs to the subscriber's building:

                                     Provided that the sum advanced shall not exceed nine month's pay of the subscriber or 75% of
   the sum subscribed by him together with the interest accumulated thereon, whichever is less :

                                      Provided further that in case of an advance for the purchase of a site and for the construction
   of the subscriber's own building , the sum advanced shall not exceed 75% of the amount at the credit of the subscriber
    in the Fund.

  Notes:-   *(1)  A second advance may be granted to an employee who has repaid atleast 6 regular monthly instalments
                          of the first advance sanctioned to him/ her . Even a third advance may be granted as a special case by
                          the Executive Council to a employee when he has repaid 6 regular monthly instalments of the second
                          advance.
                   (2)  Where the subscriber was sanctioned an advance for the construction of his own building, he shall not
                          be sanctioned any future advance during the period of his entire service for building a second house
                          though a second advance may be sanctioned for extension to his own building.
                  (3)  A subscriber shall be permitted  to draw part final withdrawal to the extent of 75% of the amount
                          standing at his credit in the fund after 15 years of service for repairs of his own house and after 20
                          years of service for any other purpose.

  8.      The amount advanced under para 7 shall be refunded in the Fund by thirty-six equal monthly instalments in all
           cases except when the advance is for the purpose of site or for the construction of the subscriber's own building
           in which case the number of instalments shall be ninety six. A subscriber may however, at his option, make
           payment in less number of instalments or may repay two or more instalments at the same time. Recoveries will
           be made monthly commencing from the first payment of a full month's salary after the advance is granted. The
           instalments will be paid by compulsory deduction from salary or leave salary and will be in addition to the usual
           subscription.

   --------------------------------------------------------------------------------------------------------
   * Approved by coord no. 29 dated 5th June, 1986

  9.     (i)  Each subscriber must file in the office of the University a declaration in such form as may be prescribed by the
              Registrar showing how he wishes the amount of his accumulation in the fund to be disposed of in the event of
               his death or becoming insane : Provided that if the subscriber has got dependent he shall not be permitted to
               nominate any outsider. Provided further that where a subscriber has no dependent at the time of nomination but
               subsequently comes to have one or more dependents, he shall, as soon as may change the nomination in favour
               of such dependent or dependents.
        (ii)  The subscriber may, from time to time, change his nominees by a written application duly witnessed, to the
                Registrar.
                 A Register of such nominees shall be kept in the University office under the personal custody of the Registrar.

  10.   Any sum, standing to the credit of any subscriber to the fund at the time of his death and payable to any dependent
          of the subscriber or to such person as may be authorised by law to receive payment to his behalf, shall, subject to
           any deductions authorised by the statutes, vest in the dependent and shall be free of any debt or other liability
           incurred by the dependent before the death of the subscriber.

                      Provided that if no nomination has been made by the subscriber, such sum shall be paid to the dependents
         in order of preference given in clause (f) of para 1.


  11.  When the sum standing to the credit of any depositor becomes payable, there may, if the Executive Council so
         directs, be deducted there from and paid to the University fund any amount under a liability incurred by the
         subscriber to the University but not exceeding any sum or sums contributed by the University and any interest
         or other profit thereon.