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On superannuation, the employee gets
the full balance at his
credit with interest.
ii. Under the new pension scheme which has come into force
from 16-11-1955, replacing the 1971 scheme,
several types are
available to an employee and his dependent.
iii. Under the deposit- linked insurance scheme,
the employer is
required to pay to the Fund not more than one per cent of the
aggregate
of the basic wages, dearness allowance and retaining
allowance as specified by the central
government in respect of
every employee employed by him.
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