Law:

Section:

National Bank of Pakistan Employees Provident, Pension and Gratuity Fund Rules------- Circular No. 77(9)-IFXI/77, paras 1, 2 & 9---Matter of provident fund of employees of National Bank of Pakistan---Object and effect of Circular No. 77(9)-IFXI/77, paras 1, 2 & 9 on existing Schemes of pension, contributory fund and gratuity in respect of the employees of National Bank of Pakistan---Employees of National Bank of Pakistan were entitled to receive whole of the amount accumulated in their account of provident fund (total amount of contribution made by them and the Bank alongwith interest up to the date of payment)---All those employees of National Bank of Pakistan covered by the said Circular were entitled to receive whole of the amount available in the provident fund account as on 30-11-1977 contributed by them and the Bank---Act of withholding the payment of that part of the, amount available in the said account which was contributed by the Bank was illegal and without lawful authority and could not be sustained---Principles. It is clear from a bare reading of the Circular as a whole that the intention behind issuing the same was to provide better social security to the employees of the financial institutions and it was made clear in the later part of paragraph I that so far as the employees of the National Bank were concerned, the existing schemes of pension, contributory fund and gratuity shall be discontinued. It is, therefore, clear from this part of the said paragraph that the existing schemes of pension, contributory fund and gratuity in respect of the employees of National Bank were discontinued by their own operation, as such, it was not dependent upon the exercise of option by them in their favour. The argument that such employees as a matter of fact were left with no choice but to accept that from 30-11-1977, their previous scheme as to gratuity had become inoperative and they were automatically governed by the said scheme embodied in the Circular, has force as a consequence of which they could not be deprived of the right to receive the amount available in their provident fund account as on 30-11-1977 alongwith interest up to the date of…

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