Public Service Provident Fund (Amendment)

Link to law: http://www.lawnet.lk/process.php?st=2003Y0V0C17A&hword=%27%27&path=2
Published: 2003

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now
Public Service Provident Fund (Amendment)
Public Service Provident Fund (Amendment)




AN ACT TO AMEND THE PUBLIC SERVICE PROVIDENT FUND








BE it enacted by the Parliament of the Democratic Socialist Republic of Sri Lanka:-



[4th April

, 2003 ]













short title.



1.This Act may be cited as the Public service Provident Fund (Amendment) Act, No 17 of 2003.



Amendment of section 2 of chapter 434.



2. Section 2 of the Public Service Provident Fund Ordinance (hereinafter referred to as the "principal enactment") is hereby amended by the insertion immediately after subsection (4A) of that section of the following new subsection:-





"(4B) In respect of a person who holds a non-pensionable post in the service of the Government and who is entitled for a daily pay-



(a) the total of the daily payments made to such person during a calendar month or part thereof; or



(b) the monthly allowance paid to such person in lieu of a salary for that period.



shall be deemed to be the monthly salary of such person "



Amendment of section 4 of the principal enactment.



3. Section 4 of the principal enactment is hereby amended by the insertion immediately after subset turn (2) of that section of the following new subsection:-





"(2A) The compulsory contribution of a non-pensionable employee referred to in subsection (4n) of section 2, shall be, calculated on the basis of the monthly salary received by such person in accordance with the aforesaid subsection.



Amendment of section 17 of the principal enactment



4. Section 17 of the principal enactment is hereby amended by the repeal of subsection (1) thereof and the substitution therefore of the following new subsection -





(1) subject to the provisions of this Ordinance on the death of the contributor:



(a) if the amount payable does not amount to or does not exceed in value the sum specified by the provisions of civil procedure code (Chapter 101) as being the sum above which the institution of testamentary proceedings is mandatory, the Director of Pensions shall pay such amount in the manner prescribed to the person or person nominated by the deceased contributor for such purpose if no such nomination has been made, such amount can either be paid by the Director of Pensions to the person or persons entitled by law to receive the same or where a case lot the settlement of the estate of the deceased contributor has been filed such amount shall be paid to the credit of the case .



b) if the amount payable exceeds in value the sum specified by the provisions of the Civil Procedure code (Chapter 101) as being the sum above which the institution of testamentary proceedings is mandatory, the Director of Pensions shall pay such amount to the credit to the testamentary case filed for the settlement of the estate of the deceased contributor.



Provided however the Director of Pensions may at his discretion where it appears that immediate financial relief is essential to the spouse or children or other dependants of the deceased contributor for the settlement of funeral expenses, pay a sum not exceeding ten thousand rupees to the spouse or children or other dependants of the deceased contributor.".



Sinhala text to prevent in case of any inconsistency



5. In the event of any inconsistency between the Sinhala and Tamil texts of this Act. the Sinhala text shall prevail.