Section 13 in State Bank of India Employees Provident Fund Regulations, 2015
13. Recovery of Advances.
(1)An advance shall be recovered from the member in such number of equal monthly instalments as the trustees may direct, but such number shall not be less than twelve unless the member so elects, or in any case more than twenty-four.(2)A member may, at his option, repay more than one instalment in one month and each instalment shall be a number of whole rupees, the amount of advance being raised or reduced, if necessary, to admit of fixation of such instalments:Provided that where the amount advanced exceeds three months' salary or half the amount of the member's own subscriptions and interest thereon standing to his credit in the Fund, it shall be open to the trustees to direct that the amount be recovered in a maximum of thirty-six instalments.
