The assets, liabilities and administrative posts of the erstwhile state of Jammu and Kashmir have been apportioned between the union territories of JK and Ladakh with effect from Saturday, according to an official statement. The apportionment of assets, liabilities and posts of the erstwhile state, which was bifurcated into union territories of Jammu and Kashmir, and Ladakh last year, was notified by the Lieutenant Governor Manoj Sinha-led Jammu and Kashmir administration. The Lt Governor of Jammu and Kashmir, in terms of section 84(3) read with section 85(2) of the JK Reorganization Act, 2019, is pleased to apportion the assets, liabilities and posts of the erstwhile state of Jammu and Kashmir between the UT of JK and UT of Ladakh, the statement issued here said. The apportionment would be in force with effect from October 31, it said. On August 5 last year, the Centre had abrogated the special status of the erstwhile state and divided it into the two union territories (UTs). The statement said that all references to the union territories of Jammu and Kashmir or Ladakh would mean the geographical area represented by the respective UTs or shall mean the respective governments of the UTs as the case may be in the context of their usage. The central government with regard to apportionment had constituted an advisory committee on September 9 under the chairmanship of former IAS officer Sanjay Mitra. The panel submitted its report to the Union Home Ministry and comments of the Jammu and Kashmir, and Ladakh administrations were sought on its recommendations. The ministry after consultations and agreement on October 28 conveyed that necessary orders in terms of the Act be issued. The Jammu and Kashmir lieutenant governor accepted the recommendations of the committee and notified the apportionment. Under the apportionment, an additional 325 gazetted and 3,000 additional non-gazetted posts from the overall strength of Jammu and Kashmir stand transferred to Ladakh. The UTs shall have a joint finance corporation created by renaming the JK State Finance Corporation as Jammu Kashmir and Ladakh Finance Corporation, as per a notification issued by commissioner secretary to the JK administration Manoj Kumar Dwivedi. Twenty per cent of equity and 20 per cent of loan extended by the erstwhile government of JK to the JK State Finance Corporation shall be apportioned in favour of the UT of Ladakh. The joint finance corporation shall have one director from Ladakh in its board of directors, the notification read. With regard to the apportionment of posts and manpower, the notification said the detailed listing of posts transferred would be done by November 30. The allocation of employees between the UT of JK and UT of Ladakh shall be made on the basis of the options given by them. If the number of employees opting for the UT of Ladakh is less than the number of posts transferred to the UT of Ladakh, all these employees shall be allocated to UT of Ladakh, it said. For the remaining vacancies, the JK lieutenant governor will allocate non-optees, based on a suitable criterion evolved by the UT of Jammu and Kashmir. If the number of optees is more than the number of posts to be transferred to the UT of Ladakh, then the Lt Governor of JK shall allocate optees, based on a suitable criterion evolved by the UT of JK. For identification of the additional posts to be transferred, officers of the UT of JK and UT of Ladakh shall meet and finalise the list by November 25, it said. With regard to the JK Employees Provident Fund Organization (JKEPFO), the notification said the balances of active subscribers would be merged into their new accounts in the EPFO while the balances of inactive subscribers would be transferred to the EPFO and will be settled by them as and when any claims are raised. The JKEPFO will be closed after proper reconciliation and audit by the comptroller and auditor general. If any shortfall is discovered in the corpus, it shall be made good by the UT of JK, after obtaining approval of the competent authority, it said.