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Provident Funds Act, 1925 Complete Act

State: Central

Year: 1925

.....policy. In order to rive effect to these suggestions and also to certain other minor points it is considered desirable to amend the existing Act and to re-enact it in a consolidated form." -Gazette of India. 1924, Part V, p. 122. Amending Act 46 of 1975; At present every retired Central Service Class I officer entitled to pension is prohibited from taking up commercial employment before the expiry of two years from the date of his retirement unless he obtains the previous sanction of the President for taking up such employment. If such a pensioner accents any commercial employment without the previous sanction of the President. no pension is payable to him in respect of any period for which he is so employed or for such longer period as The President may direct [vide rule 10 of the Central Civil Services (Pension) Rules 1972.] 2. In the interest of purity of administration. it is considered necessary to impose similar restrictions, with suitable safeguards in the case also of members of Central Ser- vices Class I entitled to the benefits of a contributory Provident Fund. For this purpose. the Bill seeks to amend the Provident Funds Act. 1925. 3. The Bill seeks to achieve.....