(a)
Annex C
Contributors' benefits under
the Grant & Sursıdıced Scncols Provident Fund Razes
Employee's contribution at 53% of salary deducted at
source each monta.
(b)
Government matching donation at the following rates
Less than 10 years continuous
contributory service
5
10 years but less than 15 years
10%
15 years or over
15%
(c)
An
employee who leaves after less than 5 years service is eligible to receive only his own contributions plus dividend earned cn those contributions. However any employee who leaves after 5 years may be paid an amount equal Co that contributed by azn up to the date of cessation of his employment and all dividends that have been declared on that contribution plus an amount equal to the following percentage of all Government donations and all dividends that have been declared on such donations
(i)
(11)
(iii)
(iv)
(v)
(vi)
(d)
The
50% if his continuous contributory service is less than 6 years; /
50% if his continuous contributory service is not less than 6 years but less than 7 years;
70% if his continuous contributory service is
not less than 7 years but less than 8 years;
30%,
his continuous contributory service is not less than 8 years but less than 9 years;
90% if his continuous contributory service is not less than 9 years but less than 10 years;
100%,
has continuous contributory service is not less than 10 years.
Government guarantees that the annual dividend payable shall not be less than 5% of the contributors'
account.