Telecom Regulatory Authority Of India - Subsection
Section 20(4) in The Telecom Regulatory Authority of India (Contributory Provident Fund) Rules, 2003
(4)In addition to any amount to be paid under rule 32, interest thereon up to the end of the month preceding that in which the payment is made, or up to the end of the sixth month after the month in which such amount, became payable which ever of these periods be less, shall be payable to the person to whom such amount is to be paid:Provided that no interest shall be paid in respect of any period after the date which the Secretary has intimated to that person(or his agent) as the date on which he is prepared to make payment in cash, or if he pays by cheque, after the date on which the cheque in that person's favour is put in the post:Provided further that where a subscriber on deputation to a body corporate, owned or controlled by the Government or an Autonomous Organization registered under the Societies Registration Act, 1860, (21 of 1860) is subsequently absorbed in such body corporate or organization with effect from a retrospective date, for the purpose of calculating the interest due on the Fund accumulations of the subscriber the date of issue of the orders regarding absorption shall be deemed to be the date on which the amount to the credit of the subscriber became payable Subject, however, to the condition that the amount recovered as subscription during the period commencing from the date of absorption and ending with the date of issue of orders of absorption shall be deemed to be subscription to the Fund only for the purpose of awarding interest under this Sub-rule.Note: - Payment of interest on the Fund balance beyond a period of six months may be authorised by -(a)the Board up to a period of one year; and(b)the Authority up to any period,after the Board or the Authority, as the case may be, is satisfied that the delay in payment was occasioned by circumstances beyond the control of the subscriber or the person to whom such payment was to be made, ana in every such case the administrative delay involved in the matter shall be fully investigated and action, if any required, taken.
