(1) The amount shall be deducted at the rate of ten percent from the monthly salary of the child who has been permanently appointed in the establishment and the establishment shall add one hundred percent amount to that amount and deposit it in the name of the child in accordance with sub-rule (2).
(2) In order to deposit the amount as per sub-rule (1), the manager of each establishment shall open an account in the name of the child working in his establishment in the approved retirement fund as per the Accounts Act, 2058.
(3) According to sub-rule (1), the entire amount accumulated in the name of a child cannot be withdrawn without retiring from the service of the institution.
(4) In case of death of a child during the service period, the amount accumulated as the accumulation fund of that child shall be given to the person whom the child wishes, and if there is no person whom he wishes, or if the person whom he wishes also dies, the nearest rightful person among the family members of the deceased child shall get it. If there is more than one such right holder, all the right holders will get such amount.
(5) According to the regulations of the institution, the concerned child can take a loan up to a maximum amount of fifty percent from the amount accumulated as savings fund according to this rule. In this way, until the loan amount taken by the child is repaid, a quarter amount should be deducted from the salary of such child.
(6) If a child continues to serve the establishment even after attaining age, such child shall retain the amount accumulated as a savings fund in accordance with this regulation and deduct the savings fund on his behalf in accordance with prevailing laws.