The Mercantile Service Provident Society

Trustee -The Ceylon Chamber of Commerce

Registration of a Member in a Contributing Company

Below steps can be followed to register yourself with MSPS

a. Obtain form "X" (as appropriate) from Employer.

b. Submit the completed form to the respective personnel in your Company to be      handed over to MSPS.

Resignation of an employee

When a member resigns from his employment in order to claim his balance with MSPS, the below mentioned steps should be followed.

a. In the event an employee is resigning from the Company, the employer should send a letter to MSPS with details pertaining to past contribution inclusive of all     bank details and effective date of resignation.

b. MSPS will compute the amount payable to the employee subject to the Rules and credit the amount to the given bank account and confirmation will be sent to the contributor.

Loans and other deductions

A significant advantage that accrues to a member of the MSPS as compared to the state run provident funds is that a member is able to draw up to 75% of the last audited member balance as a loan for the purchase or construction of a house. A member reaching fifty years of age is also entitled to draw as a loan up to 75% of his balance. The following procedure needs to be followed when obtaining a loan.

(i) Loan application should be completed by the employee.

(ii) Employment particulars indicated in the form should be verified and

authorized by the employer.

(iii) Monthly installments for the loan to be deducted from the employee salary

and sent to MSPS.

The Mercantile Service Provident Society

Trustee -The Ceylon Chamber of Commerce

212, De Saram Place, Colombo 10, Sri Lanka

Tel +(94) 112673760, +(94) 112690532. +(94) 112675437

Fax +(94) 112673761