N SANKARAN Vs. SRI HARI MILLS P LTD

JUDGEMENT

(1.) The Petitioner was an employee in the 1st Respondent mill and he retired from service on attaining the age of superannuation on 31.12.1994. While in service, on 01.09.1959, he joined the Employees' Provident Fund Scheme and his Account No. Was TN/1040/43. On his retirement, a sum of Rs. 34,584/- had accumulated in his provident fund account and the same was paid to him. Indisputably, the Employee's Family Pension Scheme, 1971 had already come into force in the year 1971, when the Petitioner was in service. When the same was introduced, an option was given to the employees either to continue to be a member of the Employees Provident Fund Scheme, 1952 [herein after referred to as "the EPF Scheme"] or to become a member of Employees' Family Pension Scheme, 1972. The Petitioner had exercised his option to continue to be a member of the EPF Scheme and that is how, on his retirement provident fund account was settled as per the EPF Scheme.

(2.) While so, the Employees' Pension Scheme, 1995 was introduced which came into force on 16.11.1995. As per paragraph 6 of the Employees' Pension Scheme, 1995, the membership of the said Scheme shall be subject to sub-paragraph (3) of paragraph 1 of the Scheme and the same reads as follows:

(3.) Paragraph 7 of the said Scheme reads as follows: