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[Cites 0, Cited by 0] [Section 12] [Entire Act]

State of Bihar - Subsection

Section 12(1) in Bihar Contributory Provident Fund Rules, 1948

(1)A temporary advance may be granted to a subscriber from the amount standing to his credit in the Fund at the discretion of the authority specified in sub-rule (2) subject to the following conditions-
(a)the subscriber shall satisfy that authority of the necessity for the advance;
(b)that authority, shall record in writing its reasons for granting the advance; and
(c)the advance shall not, except for reasons to be recorded in writing by that authority, exceed three month's pay; and shall, in no case exceed the amount of subscriptions and interest thereon, standing to the credit of the subscribers in the Fund, at the time when the advance is granted.