Section 11(9) in The Oil Industry Development Board Staff Provident Fund Rules, 2013
(9)In case a subscriber is found to have drawn from the Fund an amount in excess of the amount standing to his credit on the date of the drawal, the overdrawn amount, irrespective of whether the over drawal occurred in the course of an advance or a withdrawal or the final payment from the fund, shall be repaid by him with interest thereon in one lump sum, or in default, be ordered to be recovered by deduction in one lump sum, from the emoluments of the subscriber. If the total amount to be recovered is more than half of the subscriber's emoluments, recoveries shall be made in monthly installments of his emoluments till the entire amount together with interest, is recovered. The rate of interest to be charged on overdrawn amount should be 21/2 % over and above the normal rate on Provident Fund balance under sub-rule (1). The interest realised on the over-drawn amount shall be credited to the Oil Industry Development Fund under relevant head of account.
