STATE BAR COUNCIL OF M.P.: JABALPUR.
PROVIDENT FUND RULES
1. The Fund shall be called “The Provident Fund of the State Bar Council of M.P.” These rules shall come into force with effect from 1st July 1964.
2. In these Rules, unless there is anything repugnant to the subject or context:-
“THE COUNCIL” means “The State Bar Council of M.P.
“THE EXECUTIVE COMMITTEE” means the “Executive Committee” for the time being of the State Bar Council of Madhya Pradesh.
“MEMBERS” means any person in the service of the State Bar Council of Madhya Pradesh.
“SALARY” means the pay of an employee under the staff service Rules of the State Bar Council of Madhya Pradesh.
3. The object of the Fund shall be to provide a member on his retirement, or in case of his or her death to his or her heirs and nominees, with an accumulated amount.
4. The management of the Fund will be vested in the Executive Committee.
5. Every permanent employee of the Council receiving a monthly salary of Rs. 50/- and over shall be a subscriber and shall contribute 1/3 of his monthly salary towards the Fund. The Council shall be entitled to deduct every month, out of the salary payable by the Council to such a member, the amount of his or her contribution to the fund. This contribution shall continue to be deducted even when the member is absent on leave with pay, but not when he or she is on leave without pay.
6. The Council shall contribute monthly to the Fund a sum equal to the amount of the monthly subscription of the member.
7. The sum subscribed from time to time by each member as well as all sums contributed by the council for each member shall be credited in his/her name in two subsidiary Ledgers : (1) Employees’ Provident Fund Ledger, and shall bear interest at 5% on day to day balance.
8. The Executive committee shall have the power to invest the monies of the provident fund in any manner they think fit, and the income from and appreciation or depreciation in the value of such investments will form part of the income and expenditure of the Council in consideration of the Council allowing a definite rate of interest from its resources, on the deposit in the Fund as provided in Rule No.7
9. Neither member, nor any person claiming under or through him/her shall be entitled to claim payment from the said Fund except as is expressly provided under these rules.
10. When a member leaves the service of the Council, he/she shall be entitled, subject to rules No. 13 and 14 to the amount standing to his/her credit together with Council’s contribution and interest on the account till the date of his/her retirement, subject to the following proviso:
(a) A member who leaves the service of the Council within a period of 8 years after joining the Council shall not be entitled to Council’s contribution or to interest thereon not-with-standing the same having been credited to his/her provident Fund Account and shall only be entitled to the amount of his/her own contribution and interest there on at the rate aforesaid till the last date of his/her service in the Council. A member who, however, retires from service within that period with the previous approval of the Council, the Council may at its discretion allow the full amount standing to the credit of his/her account in the Fund with interest at the rate aforesaid and the Council’s contribution till the date of his/her retirement from the Council’s service.
(b) Any member, who retires after a period of 8 years after joining the Fund or whose services in the Council become terminated on account of death or who is permitted by the Executive Committee to retire due to old age, suppuration or continues ill health incapacitating him/her from the proper discharge of his/her duties to be certified by a medical practitioner nominated by the Executive Committee, shall be entitled to the full amount standing to the credit of his/her account in the Fund
at the time of the termination of his/her services or retirement plus interest and Council’s contribution calculated at the rate and in the manner aforesaid during the year till the date of his/her retirement or death.
11. Every member may nominate by notice in writing to the Council or by his last will or condition thereto, any one person who shall have attained his/her majority to whom the amount standing at the credit of such member shall be payable in the event of his/her death, while in service of the Council, or before his/her claim on the Fund shall have been discharged and may from time to time change such nomination in the same mode.
12. In case of the death of a member, the Council shall pay amount standing to his/her credit to the nominee of such member, appointed as above provided, and shall in the absence of such nomination pay such amount either to his/her executors or administrators or holder of succession Certificate to him/her, or to his widow or issue or to his heir or heirs or any one or more of them as the Executive Committee may think fit. Any such payment shall be a complete and baled discharge to the fund and to the Council in respect of such members share and interest in the fund.
13. The Council shall have the power to recover any pecuniary claims it may have against any member from amount standing at his/her credit in the Provident Fund amount.
14. The Council shall have a first and paramount charge and claim upon the share and interest of the member in the said Fund and upon the amount to his/her credit, in respect of all reasonable damages, costs and expenses which it may sustain or incur by reason of any act of embezzlement, mismanagement, neglect or default of or by such member, the Executive Committee being the sole judges of such claims and the moneys at the credit of the contributor in respect of this fund shall be demanded and treated as a deposit made by him/her with the council as security for his fidelity and due discharge be of his/her duties.
15. Any claim of the council against any member, under of Rules 13 and 14 shall be paid to the council out of the amount standing to his/her credit and out or his/her share in the fund under the authority of a resolution of the council.
16. Advance against the amount standing to the credit of any member, may upon application be granted to a member in case of protracted sickness or payment of insurance premium or other equally cogent reasons by the Executive Committee to the extent of 75% of the member’s own contribution to the Fund. For purchase or construction of a house for his/her own name, by a member, the Executive Committee may at their discretion also sanction advance from the fund but in no case shall the advance exceed the member’s own contribution until the member has completed 8 years’ service in the council and his/her record of service is without blemish. All such advances shall be repayable by installments fixed by the Executive Committee from the monthly salary of the member.
17. Members receiving such advances shall fore go all interest and other benefits in respect of the amount of such advance remaining outstanding.
18. Payment of any claim in respect of this fund whether arising on resignation retirement death dismissal or otherwise, shall be made after the claim in examined and approved by the Executive Committee. Interest shall continue to run on the account to the date of payment.
19. No member shall be allowed to draw upon or shall assign, mortgage or in other way alienate or effect a charge on his share or interest in the fund or any part thereof and any alienation or act as aforesaid and any prohibitory order or other process of any court purporting to attach such share or interest, shall post facto terminate the member’s interest in the fund. The Executive Committee shall, however, be at full liberty to allow any time thereafter the share thus lapsed to the fund or any part thereof for the benefit of the wife, children or other relatives of such member.
20. Any sums which may lapse to the fund owing to forfeiture on any share or interest in the fund of any of the member or through any other cause shall be disposed of in such manner as the Executive Committee may decide from time to time. No interest will be allowed on such sums.
21. These rules come into force from 1st July 1964.
22. The Executive Committee shall have power to alter, add to or repeal these rules from time to time provided however that no such alternation addition or repeal shall have any retrospective effect against the interest of the members of the said fund.
23. The Executive Committee reserves the right to close the fund at any time if they deem it so desirable.
24. Every member who joins the fund shall be required to give a declaration in from mentioned below.
FORM OR DECLARATION
I hereby declare that I have read the foregoing rules of the Provident Fund of the State Bar Council of Madhya Pradesh and that I agree to be bound by them.
I nominate ___________________________________my ______________
to receive payment of the amount standing to the credit of my provident fund in case of any accident to my life while in the service of the Council.