JUDGMENT

ASHOK BHUSHAN, J.

This appeal has been filed by PEPSU Road Transport Corporation, Patiala against the judgment and order of Punjab and Haryana High Court dated 1st December, 2006 by which judgment the Regular Second Appeal filed by the appellant has been dismissed affirming the judgments and orders of the Appellate Court and Trial Court. This appeal has arisen out of the original suit filed by the Balwant Singh the predecessor in interest of the respondents.

2. The brief facts of the case necessary to be noted for deciding the appeal are :

Balwant Singh, the plaintiff had been working as driver with PEPSU Road Transport Corporation. The statutory Regulation has been framed, namely, PEPSU Road Transport Corporation Employees/Pension Gratuity and General Provident Fund Regulations 1992 (hereinafter referred to as "Regulations 1992"), which came into force w.e.f. 15th January, 1992. The Regulations were made applicable to the employees of the Corporation who were appointed on or after the date of issue of Regulations on whole-time and regular basis and those who were working immediately before the date of issue of Regulations and opt for these Regulations. The exercise of option