RNGEI Rules 76Chapter VIII · Contributory Provident Fund

Section 76 · Recovery of advance

.- (1) In advance shall be recovered from the subscriber in such number of equal installments as the sanctioning authority may direct, but such number shall not be less than twelve unless the subscriber so elects or in any case not more than thirty six. Each installment shall be a number of whole rupees, the amount of advance being raised or reduced, if necessary, to admit of the fixation of such installments.

(2)

Recovery shall be made from the emoluments or a subscriber drawn from the institution and shall commence on the first occasion after the advance is made on which the subscriber draws emoluments.

(3)

If more than one advance has been made, each advance shall be treated separately for the purpose of recovery.

(4)

After the principal of the advance has been fully repaid, interest shall be paid thereon in two installments.

(5)

Recoveries made under this rule, shall be credited as they are made to the account of the subscriber in the Fund.

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