CIT and Laxmi Sunrise Bank Sign Agreement on Employee Retirement Fund Management

Citizen Investment Trust and Laxmi Sunrise Bank Limited have signed an agreement for the management of employee retirement funds, including provident, gratuity, voluntary retirement, and additional retirement schemes.

The agreement was signed by the Trust’s director, Nabaraj Khadka, and the bank’s HR head Amit Sharma.

Under the arrangement, CIT will maintain employee records, manage individual accounts, process monthly and annual contributions, and handle retirement payouts based on the bank’s recommendations. Employees will also receive interest and benefits as per CIT regulations, with applicable tax deductions during retirement payments.

The agreement aims to ensure systematic, transparent, and efficient management of employee retirement benefits for the bank’s workforce.