Past Service Contribution definition

Past Service Contribution means a sum payable by the Employer in respect of the Member who at the time of his entry into the Scheme has past service to his credit, either in lumpsum or in such installments as may be prescribed by the Income Tax Rules, 1962.
Sample 1

Examples of Past Service Contribution in a sentence

  • You understand and agree that the amount of Contribution is not guaranteed and may vary from year to year.5.2. Past Service Contribution (In case of Gratuity) You may, at Your sole discretion, pay additional Contributions towards past service of one or more Insured Members , provided that such additional Contributions is determined on the basis of the actuarial valuation certificate submitted to Us by You as per AS 15 (Revised).

  • The employer may also make a Past Service Contribution for an employee or transfer the whole of the existing fund assets to the Plan by way of a single lump sum or by installments over a certain period on terms to be agreed with Sun Life.

  • The employer may also make a Past Service Contribution for an employee or transfer the whole of the existing fund assets to the Scheme by way of a single lump sum or by installments over a certain period on terms to be agreed with FWD Life.

  • Employers’ and employees’ contributions (including any Past Service Contribution and/or contribution as a result of transfer from existing fund assets to the Plan) will be credited to the Capital Guarantee (CG) Account and allocated to the Capital Guarantee Fund upon receipt of cleared funds by Sun Life.

  • Grants which are meant for purchase, construction or otherwise acquire non current assets are recognized as Deferred Income and disclosed under Non Current Liabilities and transferred to Statement of Profit and Loss on a systematic basis Notes to Financial Statements for the year ended March 31, 2020 (Contd.) over the useful life of the respective asset.

  • Within 180 days of this notification, the Member shall pay or transfer into the Plan the Past Service Contribution required, without the addition of further interest.

  • INVESTMENT Employers’ and employees’ contributions (including any Past Service Contribution and/or contribution as a result of transfer from existing fund assets to the Plan) will be credited to the Capital Guarantee (CG) Account and allocated to the Capital Guarantee Fund upon receipt of cleared funds by Sun Life.

Related to Past Service Contribution

  • Additional Special Servicing Compensation As defined in Section 3.11(d).

  • Servicing Compensation With respect to each Distribution Date, the sum of (i) the aggregate Servicing Fee for such Distribution Date subject to reduction as provided in Section 3.17, (ii) any Ancillary Income, (iii) Excess Proceeds for the preceding month and (iv) the Servicer Custodial Account Reinvestment Income for such Distribution Date.

  • Special Servicing Compensation With respect to any Serviced Mortgage Loan, Serviced Loan Combination or REO Property (other than an REO Property related to an Outside Serviced Mortgage Loan), any of the Special Servicing Fee, the Workout Fee, and the Liquidation Fee which shall be due to the Special Servicer.

  • Master Servicing Compensation The meaning specified in Section 3.14.

  • Contribution Period means the period specified in Article VI for which Employer Contributions shall be made.

  • Annual Contribution means the annual payment to the Fund made by each Member in return for Coverage by the Fund for a Fund Year;

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Delayed contribution payment means an amount paid by an employee for purchase of current service. The amount shall be determined using the same formula in KRS 61.5525, and the payment shall not be picked up by the employer. A delayed contribution payment shall be deposited to the member's account and considered as accumulated contributions of the individual member. In determining payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;

  • Nonelective Contribution means an amount contributed by a participating

  • In-kind contribution means a contribution of goods or services received by a candidate committee, joint candidates committee, political committee, continuing political committee, political party committee, or legislative leadership committee, which contribution is paid for by a person or entity other than the recipient committee, but does not include services provided without compensation by an individual volunteering a part of or all of his or her time on behalf of a candidate or committee.

  • Pre-Tax Contributions means, for any Participant, the aggregate of the Participant's Basic Pre-Tax Contributions and Supplemental Pre-Tax Contributions contributed to the applicable Pre-Tax Contribution Account.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Additional Servicing Compensation means any servicing compensation (other than Servicing Fees, Special Servicing Fees, Workout Fees or Liquidation Fees) that any Servicer is entitled to retain under the Servicing Agreement.

  • Available Master Servicer Compensation With respect to any Distribution Date, the sum of (a) the Master Servicing Fee for such Distribution Date, (b) interest earned through the business day preceding the applicable Distribution Date on any Prepayments in Full remitted to the Master Servicer and (c) the aggregate amount of Month End Interest remitted by the Servicers to the Master Servicer pursuant to the related Servicing Agreements.

  • Contribution Date has the meaning set forth in Section 4.3 hereof.

  • Accumulated contributions means the sum of all

  • Catch-Up Contribution means an Elective Deferral made to the Plan by a Catch-Up Eligible Participant that, during any taxable year of such Participant, exceeds one of the following:

  • Contribution Rate means, in a reserve study as described in RCW 64.34.380, the amount contributed to the reserve account so that the association will have cash reserves to pay major maintenance, repair, or replacement costs without the need of a special assessment.

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Enrollee point-of-service cost-sharing or "cost-sharing" means amounts paid to health carriers directly providing services, health care providers, or health care facilities by enrollees and may include copayments, coinsurance, or deductibles.

  • Discretionary Contribution means the contribution made by the Employer on behalf of a Participant as described in Section 4.4(b).

  • Matching Contribution means an Employer contribution made to this or any other defined contribution plan on behalf of a Participant on account of a Participant's Deferral Contribution.

  • Matching Contributions means local cash and/or in-kind contributions made by the Subrecipient, subcontractor, or other local resources that qualify as match for the Contract funding.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Seller 401(k) Plan shall have the meaning set forth in Section 6.01(i).

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).