Section 4
Provisions Relating To Application Of Establishment Of Retirement Fund And Approval
(1) The institutions which intend to establish a Fund pursuant to Section 3 may jointly make an application, setting out the prescribed details, to the Government of Nepal.
(2) The amount to be deducted by the institutions which make an application pursuant to Sub-section (1) for payment into the provident fund of their employees and be added thereto by them shall be at least Two
Million Rupees, and more than Six Hundred Thousand Rupees shall be annually deducted in consideration for the provident fund and be paid into the Fund annually.
(3) The Government of Nepal shall make necessary examination of an application made pursuant to Sub-section (1) and may give approval for the establishment of the Fund.
(4) A notice of the approval given to establish the Fund pursuant to Sub-section (3) shall be published in the Nepal Gazette.
(2) The amount to be deducted by the institutions which make an application pursuant to Sub-section (1) for payment into the provident fund of their employees and be added thereto by them shall be at least Two
Million Rupees, and more than Six Hundred Thousand Rupees shall be annually deducted in consideration for the provident fund and be paid into the Fund annually.
(3) The Government of Nepal shall make necessary examination of an application made pursuant to Sub-section (1) and may give approval for the establishment of the Fund.
(4) A notice of the approval given to establish the Fund pursuant to Sub-section (3) shall be published in the Nepal Gazette.