- (1.)Application of a decision of this Court in bank of India and Others Vs. O. P. Swarnakar and Others [ (2003) 2 SCC 721] falls for consideration in this application.
(2.)Before, however, we advert to the said question, we may notice the admitted facts.
(3.)Shri Amarjit Singh Sahni, the Applicant herein at all material times was working in the Punjab and Sind Bank (for short "the bank") as a Cashier-cum-Clerk at the Zonal office Haryana. The Bank adopted a scheme known as "the Punjab and Sind Bank Employees' voluntary Retirement Scheme, 2000" (for short "the Scheme") which was to remain in operation from 1.12.2000 to 31.12.2000. In term of the Scheme, those who sought for voluntary retirement were entitled to accept ex gratia payments as specified therein as also the other benefits which are as under:"amount of ex gratia an employee seeking voluntary retirement under the Scheme will be entitled to the ex gratia amount mentioned below in para (a) or (b) , whichever is less: (a) 60 days' salary (pay plus stagnation increments plus special pay plus dearness relief) for each completed year of service; or (b) salary for the number of months of service left; other benefits an employee seeking voluntary retirement under the Scheme will be eligible for the following benefits in addition to the ex gratia amount mentioned in para 6 above of this Scheme: (i) Gratuity as per the Payment of gratuity Act, 1972 or gratuity payable under the Service Rules, as the case may be, as per existing rules. (ii) (a) Pension (including commuted value of pension) as per PNB (Employees) Pension Regulations, 1995. or (b) Bank's contribution towards PF as per existing rules. x (iii) Leave encashment as per existing rules. "