Amendment status not verified — confirm the current text below against the official source.
(1) In the event of a death of member, his nominee or where there is no nominee, his legal heirs shall be paid from the Fund an amount calculated at the rate of rupees five thousand per annum for every completed year of his membership which shall not be less than rupees twenty five thousand and more than rupees one lakh fifty thousand. (2) A member shall on ceasing to be such member under clause (b]), (c) or (d) of sub-section (1) of section 12, shall be paid from the Fund :-- (i) if he resigns after twelve years and before twenty five completed years of his membership, an amount calculated at the rate of two thousand rupees per annum for every completed year of membership; (ii) if he resigns after twenty five completed years of his membership, an amount calculated at the rate of five thousand rupees per annum for every completed year of membership subject to a maximum of rupees one lakh fifty thousand; (iii) if he ceases to be such member due to any other cause not covered by sub-section (1) or sub-section (2), an amount equal to the aggregate of his subscription paid by him and simple interest thereon at such rate as the Trustees Committee may, from time to time. (3) For a calculating the completed years of membership for the purposes of this section, every five years of practice at bar, if any, before admission of a member to the scheme shall be completed as one year of membership of the Scheme.]1 Restriction on alienation attachment etc. of interest of members