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22. Scales of assurance benefit and the minimum average balance to be maintained by an employee.- (1) On the death of an employee, who is a member of the fund or of a provident fund exempted under section 17 of the Act, as the case may be, the persons entitled to receive the provident fund accumulations of the deceased shall, in addition to such accumulations, be paid an amount, equal to the average balance in the account of the deceased in the fund or of a provident fund exempted under section 17 of the Act, as the case may be, during preceding twelve months or during the period of his membership, whichever is less, except where the average balance exceeds rupees thirty-five thousand, the amount payable shall be rupees thirty-five thousand plus 25 per cent of the amount in excess of rupees thirty-five thousand subject to a ceiling of rupees sixty thousand.

Explanation 1: For the purpose of determining the average balance in the Fund or in the provident fund exempted under section 17 of the Act, as the case may be, in relation to any employee, the sum total of contributions by the employee and the employer, due for and up to the relevant period, whether paid or unpaid in the Fund or in the provident fund exempted under section 17 of the Act, as the case may be, together with interest thereon, shall be included.

Explanation 2: The period of twelve months for calculation of benefits under this Scheme shall be computed backwards from the month preceding the month in which death of the member occurs.

(2) In the case of a part-time employee who was a member of Fund or of a provident fund exempted under section 17 of the Act, as the case may be while serving in more than one factory or establishment the quantum of benefit under this Scheme shall be determined with reference to the average of the aggregate balance in all his accounts in the Fund or of a provident fund exempted under section 17 of the Act, as the case may be during the preceding twelve months.

 

 

 

 

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