Clarification regarding approval to gratuity fund.

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..... or transfer of equitable interest to another approved superannuation Fund, when the employee leaves the service voluntarily before he attains the specified age for retirement may not be refused merely on the ground that he left the service voluntarily before he reached the age of normal retirement. It was also stated therein that if such superannuation Fund complies with the Rules and conditions .....

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..... n view of the position that an employee does not receive any immediate benefit by the mere transfer of the amounts to his credit from one account to another and remains in virtually the same position as he would have been, had the amounts continued to remain in gratuity fund maintained by his former employer, the Board have decided that approval to gratuity funds, which provide for transfer of equ .....

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