Section 2
Definitions
Unless the subject or the context otherwise requires, in this Act:
(a) “Fund” means the Retirement Fund established under Section 3.
(b) “Employee” means any person who is in service in a company,
corporation or other body corporate established pursuant to the laws
in force.
(c) “Institution” means a company, corporation or other body corporate established pursuant to the laws in force.
(d) “Board” means the board of directors of the Fund formed under Section 6.
(e) “General manager” means the general manager of the Fund appointed pursuant to Section 11.
(f) “Bond” means a loan disbursed by the Government of Nepal under the Domestic Borrowings Act, 2059 (2002) and this term also includes a bond of a foreign government.
(g) “Debenture” means a bond of loan borrowed by a company against the security or guarantee of its assets.
(ih) “Member” means an institution deposing amounts of provident fund of its employees within the Fund.
(i) “Salary’ means only such a salary that is drawn by an employee according to the prevailing scale of the post in which he or she has alien, in consideration for the service rendered by him or her in accordance with the conditions of service.
(j) “Prescribed” or “as prescribed” means prescribed or as prescribed in the Rules or Bye-laws framed under this Act.
(a) “Fund” means the Retirement Fund established under Section 3.
(b) “Employee” means any person who is in service in a company,
corporation or other body corporate established pursuant to the laws
in force.
(c) “Institution” means a company, corporation or other body corporate established pursuant to the laws in force.
(d) “Board” means the board of directors of the Fund formed under Section 6.
(e) “General manager” means the general manager of the Fund appointed pursuant to Section 11.
(f) “Bond” means a loan disbursed by the Government of Nepal under the Domestic Borrowings Act, 2059 (2002) and this term also includes a bond of a foreign government.
(g) “Debenture” means a bond of loan borrowed by a company against the security or guarantee of its assets.
(ih) “Member” means an institution deposing amounts of provident fund of its employees within the Fund.
(i) “Salary’ means only such a salary that is drawn by an employee according to the prevailing scale of the post in which he or she has alien, in consideration for the service rendered by him or her in accordance with the conditions of service.
(j) “Prescribed” or “as prescribed” means prescribed or as prescribed in the Rules or Bye-laws framed under this Act.