(b)      The outstanding balance of the first advance with interest, if any, shall be recovered from the amount of the second advance being sanctioned so that only one advance remains outstanding at one time.

15.4   If a member applies for advance for special reasons and the period of twelve months has been elapsed after repayment of previous advance alongwith interest, he may be sanctioned advance upto 50% of the amount at his credit.

15.5   Recovery of advances

          The refund of advance and payment of interest thereon shall be made in the following manners:–

(a)      The principal amount withdrawn shall be payable is not more than 40 equal monthly installments.

(b)      The interest at the rate announced by the Council for the year during which advance was paid shall be paid in two to five equal monthly installments immediately after the last installment of the principal amount of the advance is repaid.

(c)      Provided that if a member contributing to the fund, opts not to receive interest accruing on his accumulated balance, no interest shall be charged on the advance taken by him from the fund.

15.6  Non-refundable advances

15.6.1 Save as provided as follows a member can apply for non refundable advance in following cases.

(i)       If he has attained the age of 45, 50 or 55 years,

(ii)      If he has to renovate or completely reconstruct his house.

(iii)     If he has to make repayments of the loan taken from any financial institution.

15.6.2 Payments against non refundable advances shall be treated as a part of final payments of C.P Fund to the members.

15.6.3 Only three non refundable advances, one each after attaining age of 45, 50 & 55 years, shall be admissible to a member.

16.   NOMINATIONS

16.1   Each member shall on joining the fund submit a nomination as per Form C & D conferring the right to receive the accumulated balance due in the event of member’s death during his service in the Council.

16.2   A member who has family at the time of joining the fund shall submit nomination as per Form C.

16.3   A person who has no family shall submit nomination as per Form D;

          Provided that a nomination made under this rule shall be deemed to have been duly made in accordance with these rules only for so long as the member has no family.

16.4   If a member at any time attains a family, he shall submit the nomination as per Form C, he shall formally cancel the previous nomination.

16.5   The member may nominate more than one person under these rules, however he shall specify the share payable to each of the nominees in such manner as to cover whole of the accumulated balance due.

16.6   The members can change their nominations from time to time, cancellation of the previous nomination shall be initiated in writing.

16.7   In the absence of a nominee, on the death of a member, the payment of the accumulated balance at the credit of the deceased member due shall be made to his heirs, executors or administrators, as determined by the Council and such payment shall be deemed to be a good charge against all claims on the fund.

16.8   Every nomination or change in nomination by a member shall, to the extent that it is valid, take effect on the date of which it is received by the Council.

17.   PAYMENT

17.1   The accumulated balance due to a member shall be payable to him on the day he ceases to be an employee of Council. Payment will be made upon claim by the person entitled to receive payment and shall include interest.

17.2   The amount of his C.P Fund shall be released on receipt of NOC & claim for his payment and any amount payable by the member to the Council shall be deducted from the accumulated balance due at the time of final payment to him.

17.3   If payment be not claimed within three years from the date such payment is due, the accumulated balance due to the member shall be credited to Suspension Account of the Fund.

17.4   If a member claims for his fund after lapse of three years, he shall be paid only the accumulated balance due on his credit transferred to Suspension Account alongwith the profit upto the date he ceases to be a member of the Council.

17.5   The amount payable at the time of final payment will be ascertained and determined by a certificate signed by two of the signatories and payment of such amount so certified to the member or other person entitled under these Rules shall operate as a full and sufficient discharge of all liabilities of the Fund and of the Council in respect thereof.

18.   SUSPENSION ACCOUNT

          All balances due to the ex-member alongwith interest earned at any time remaining unclaimed after three years shall be transferred to a separate account to be called, “the Suspension Account” in the books of the Fund and shall be paid to the ex-members or their legal representatives without profit, the balance lying in this account shall be applied by the Council for Meeting the losses to the Fund from any cause whatsoever, not being on account of default of the Council.

19.   WINDING UP OF FUND

19.1   The Council may at any time with the consent of its members and shall, if so as directed by the Council, on giving at least six months notice in writing to each member personally or by sending the same by registered post to his last known address, or by posting such written notice in a prominent place in the office of the Council wind up the Fund and distribute its net assets as determined according to these rules to the Members and thereafter the Fund shall cease to have any effect other than for the purposes of determining any right or title or exercising any power or discretions in relation to the winding up of the fund shall be admitted as a member of the Fund after the issue of notice as aforesaid. In the event of the Council going into liquidation whether voluntary or compulsory (save for the purpose of reconstruction or amalgamation) the Fund shall automatically cease and the Council shall thereupon wind up the Fund and distribute its assets as provided in these rules.

19.2   The balance available for distribution to the members on winding up the Fund which will consist of the sale proceeds of all of the investments of the Fund and the proceeds of realization of its assets together with the cash balances then available after making provisions for the payments of all expenses in connection with the closing of the Fund and other liabilities, shall be distributed among the members in proportion to the accumulated balances due to them respectively.

19.3   Prior to the final distribution of its assets the Fund’s accounts shall be audited and the value of distributable assets shall be certified by the Fund’s auditor.

20.   MISCELLANEOUS

20.1   In the absence of rules for or for clarification, GPF Rules of the Federal Government shall be applicable.

20.2   No amendment or addition in the rules shall be made but with the approval of Finance Division.

21.   NOTICES

          Before winding up the Fund, a notice to the members may be given by exhibiting the same at prominent place in the head office and regional offices where the members are posted.

22.   AUDIT

          Audit of the proposed fund shall be made by the concerned Audit Department.

23.   ARBITRATION

          In case of any dispute between the member or his legal representative and the Council, the decision of the Director General, PNCA shall be the final.

—————————

FORM “A”

The Director General

PNCA

Islamabad.

Dear Sir,

As I have been a permanent and whole time employee of Pakistan National Council of the Arts for the last six months and as I am continuing in employment, 1 hereby apply to become a member of \PNCA Employees C.P Fund.

I hereby declare that I have read rules and regulations of the Fund and I agree to abide by them and by any subsequent additions to and alternations in the same as may from time to time hereafter be made. I also agree to accept as binding the decision of the Investment Committee on any question which may arise in connection with my membership.

I hereby permit you, if my application for membership is accepted to authorize the Council to deduct 10% of my salary every month as my contribution to the Fund with effect from …………………

I attached herewith nomination form

Name in full     ……………………………………………………………

NIC No. ………………………………………………………………..

Name of appointment and pay………………………………………

Name of establishment ………………………………………………

Date of joining service ……………………………………………….

Yours faithfully,

 

Signature

Date:–

FORM “B”

The Accounts Officer

PNCA

Islamabad.

Dear Sir,

Consequent to my admission on …………………. to the membership of PNCA Employees C.P Fund and as required by rule of the Rules of the Fund, I hereby authorize you to deduct each month from the date of my becoming the member of the Fund a sum equivalent to the amount contributable by me in accordance with the terms of the fund at the usual time of payment of my salary to me as my contribution to the Fund. Please deposit the amounts deducted into the Fund for credit to my account.

The deductions should commence from the salary payable to me from the month of

Yours Obediently

Name ……………………            Signature ……………………….

Designation …………….            Employee No. …………………..

Department

Date…………………

Form 'C’

When an employ has family and wishes to nominate one member thereof.

I hereby nominate the person mentioned below, who is a member of my family and confer on him the right to receive my accumulated balance due against my C.P. Fund that may be sanctioned by the Council in the event of my death while in service and the right to receive on my death any gratuity which having become admissible to me on retirement may remain unpaid at my death:–

Name and address of the Nominee

Relationship With nominee

Age

Contingencies on the happening of which the nomination shall become invalid

Name and relationship of person if any to whom the right conferred on the nominee shall pass in the event of the nominee pre-deceasing the Government servant

 

 

 

 

 

Dated this ………………………………..day of……………………………20 at ………………………………………………………………………………… Witnesses to signature.

1…………………………….

2…………………………….

Signature of the employee.

_________________________

(To be filled in by the Head of Department.)

Nomination by ……………        Signature of Head of Department

Designation ………………………            Designation……………………

Date ………………………

Form 'D'

When an employee has family and wishes to nominate more than one member thereof:–

I hereby nominate the persons mentioned below, who are members of my family, and confer on them the right to receive to the extent specified below, my accumulated balance due against my C.P. Fund that may be sanctioned by the Council in the event of my death-while in service and the right to receive on my death, to the extent specified below, any gratuity which having become admissible to me on retirement may remain unpaid at my death:–

Name and address(es) of the Nominees

Relationship with the employee

Age

Amount of share of gratuity payable to each

Contingencies on the happening of which the nomination shall become invalid.

Name and relationship of person if any to whom the right conferred on the nominee shall pass in the event of the nominee pre-deceasing the Government servant

 

 

 

 

 

 

N.B.– The employee should draw lines across the blank space below the last entry to prevent the insertion of any name after he has signed.

Dated this ………………………………..day of……………………………20 at ………………………………………………………………………………… Witnesses to signature.

1…………………………….

2…………………………….

Signature of the employee.

_________________________

(To be filled in by the Head of Department.)

Nomination by ……………        Signature of Head of Department

Designation ………………………            Designation……………………

Date ………………………

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