(e) “Fund” means the State Bank of India Employee Contingency Fund established to provide each employee who is a Member with a sum of money in the amount of which is determined in accordance with these Regulations; (4) The designated employee has no claim against the Bank or the trustees in respect of the amounts mentioned, except in accordance with these Regulations. (a) in the case of employees not subject to the award of the National Labour Court or paid on the same basis as when the National Labour Court was awarded, the material salary or the basic salary plus any full personal and temporary allowance. 1. When an employee leaves the Bank service of another institution or institution and enters the service of the Bank and may or is required to become a member of the pension fund maintained by the Bank, the trustees shall, at the request of the employee and if the provisions governing the pension fund managed by his former employer so permit: receive the amount due to him in the provident fund account held by his former employer and transferred by that employer directly to the pension fund maintained by the bank. 2. The amounts thus obtained shall be credited to the worker`s account to be opened in the Fund under the heading “Employee contributions” (or in the corresponding column). (d) “form” means the form annexed to the Regulation; (g) “provident fund” means the sum of money determined in accordance with these provisions on termination of the member`s service with the bank; 3. The amounts so credited shall thereafter be treated, in accordance with these provisions, as if they were contributions paid by the said employee in accordance with these Regulations, and the Bank shall not be obliged to make contributions corresponding to the amounts credited above. (a) If a proposal of the member persists in accordance with these rules for the benefit of a person or members of his family, the amount credited to him to the fund or part of the fund to which the nomination relates shall be paid to the candidate(s) in proportion to the proportion specified in the nomination; (3) A member shall, within one month after the marriage or, if the member is on leave, within one month after the member returns from leave, submit a certificate to the trustees stating that the money withdrawn was actually used for its intended purpose. Note: Column 4 may be completed to cover the total amount of the credit. (7) If a withdrawal under clause (a) of Rule 16 for the repayment of the loan, the loan must be repaid within three months after the revocation. Published with notification no.
CDO/PM/SM/16/SPL/1042, 20. August 2015 (1) (a) an amount of one thousand five hundred rupees or half the amount of its own subscriptions, the interest of which is charged on its balance in the Fund, whichever is greater, but in no case exceeds the total amount of its own contributions with interest on its account in the Fund; or (c) cover expenses related to the marriage of his or her daughter or daughters or, if the member has no daughter, other dependants. Member`s signature verified by me————————– (i) to reimburse expenses incurred in connection with the Member`s or a beneficial dependent illness; (iii) to cover any other expense or liability that, in the opinion of the directors, is exceptional and exceeds the ordinary capacity of the member;. (5) Construction shall commence within six months after the date of withdrawal of funds and shall be completed within one year after construction begins or such longer period as the trustees may prescribe in special cases if the commencement or completion of the work may be delayed for reasons beyond the member`s control. (6) The house must be acquired or redeemed within three months of withdrawal. (b) To cover the costs of higher education, including, where appropriate, transit costs, of a child of the Member in the following cases, namely: -. (e) Notwithstanding the provisions of these Regulations, in the event of the death of a member for whom it is responsible to the Bank, the Executive Directors may pay to the Bank out of the balance of its balance in the Fund an amount due by the Bank to the Bank (up to the amount deposited by the Bank in its account in the Fund and the interest credited to its account in the Fund). amounts thus contributed) before payment is made under this Regulation. (ii) for any medical, technical or other technical or specialized course in India beyond secondary level, provided that the course lasts at least three years.
(c) in the case of subordinate agents covered by the award of the national court or remunerated on the same basis as in the award of the national court, seventy-five per cent. of the basic salary granted: 3. A member authorised to withdraw money from the Fund in accordance with Article 16(b) shall, within six months of the date of withdrawal, prove to the trustees that the money has been used for the purpose for which it was withdrawn: (c) that amount, together with private savings, if any; the member would be sufficient for this purpose; Office Manager / Branch Manager / Dy. (b) the actual cost of the house and land; whichever is lower. (c) `board of directors` means the board of directors referred to in Article 3; (a) the construction or acquisition of a house suitable for his dwelling, including the cost of the land, or the repayment of an amount outstanding on the basis of a loan expressly contracted for that purpose. (b) If such appointment is in favour of a non-dependent person, the amount credited to him in the Fund or, as the case may be, that part of the Fund to which the nomination relates shall be payable to the designated institution, provided that such amount does not exceed five thousand rupees;.