(1) The Government of Nepal shall set up a separate gratuity and pension fund for purposes of providing gratuity and pension to those Employees who are appointed after the date specified by the Government of Nepal by a notification in the Nepal Gazette, and an amount at the rate of ten per cent of the monthly salary of such Employees shall be deducted, and the Government of Nepal shall, adding the amount equal to ten per cent of the monthly salary to such amount, deposit the total amount in that fund.
(2) The provisions relating to gratuity and pension as set forth in Sections 48, 49, 50, 51, 53 and 54 shall not be applicable to those Employees who are appointed after the publication of the notice as referred to in sub-section (1).
(3) The Government of Nepal shall provide the amount equal to that deducted from the monthly salary pursuant to sub- section (1) to such an Employee at the time of payment of salary to him or her.
(4) Notwithstanding anything contained in sub-section (3), an Employee who has been dismissed from the service with being disqualified for the government service in the future pursuant to sub-clause (2) of clause (b) of Section 81 shall be entitled to receive a lump sum of the total amount deducted from his or her
salary to that fund and interest as well as profit accrued therein and therefrom.
(5) Other provisions relating to the management and operation of the amounts to be deposited in the gratuity and pension fund set up pursuant to sub-section (1), procedures for the deduction of funds, payment of fund deducted amounts for purposes of gratuity and pension and fund deductions shall be as
prescribed by the Government of Nepal.