Section 15(4) in The Rajasthan Municipalities (Contributory Provident Fund and Gratuity) Rules, 1969
(4)(a)After the principal of the advance has been fully repaid interest thereon shall be paid at the rate of one fourth percent of the principal for each month or broken portion of a month during the drawal and complete repayment of the principal.(b)Interest shall ordinarily be recovered in one instalment in the month after complete repayment of he principal but if the period referred to in clause (a) exceeds twenty months, interest may, if the subscriber so desires, be recovered in two equal monthly instalments. In calculating interest, a fraction of a rupee if it exceeds fifty paise, shall be taken to be whole rupee and if it does not exceed fifty paise shall be ignored.
