Rule 51. Bank or other financial institution in which the gratuity shall be invested for the benefit of minor under the third proviso to sub-section (1) of Section 53

Chapter IV — GratuityMade under The Code on Social Security, 2020Notification No. 1431/XXXVI-3-2026-1399661, 27 Aug 2026

Official text

In the case of a nominee, or an heir, who is a minor, the Competent Authority shall invest the gratuity amount deposited with him for the benefit of such minor in term deposit with the State bank of India or Nationalized Bank.

Explanation: Nationalized Bank means a corresponding new bank specified in the first schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Act no. 5 of 1970) or a corresponding new bank specified in the first schedule of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 (Act. no. 40 of 1980).

Source: The Uttar Pradesh Code on Social Security Rules, 2026, Notification No. 1431/XXXVI-3-2026-1399661 — Uttar Pradesh Gazette Extraordinary, 27 August 2026, p. 113 of the PDF. Open our copy at p. 113 · official download · all sources

The rules were made in Hindi. The English text is the translation published by order of the Governor under clause (3) of Article 348 of the Constitution, which makes it the authoritative text in English. Rule headings are printed as marginal notes.