Section 14(3) in The Rajasthan Financial Corporation Employees Provident Fund Regulations, 1958
(3)(a)After the principal of the advance has been fully repaid, interest shall be recovered thereon at the rate of one-fifth per cent on the principal for each month or broken portion of a month during the period between the drawal and complete repayment of the principal.(b)Interest shall ordinarily be recovered in one instalment in the month after complete repayment of the principal, but if the period referred to in clause (a) of this Sub-Regulation exceeds twenty months, interest may, if the Subscriber so desires, be recovered in two equal monthly instalments. The method of recovery shall be that provided in Sub-Regulation (2)(b).[14A. Non Refundable Advance.] [Notification dated 16-10-2002, Published in R.G.Extraordinary, part 7, dated 28-11-2002, page 145 -1.] - (1) Withdrawal from the Fund for the purchase of a Dwelling House/Flat or for the construction of a Dwelling House including the acquisition of a suitable site for the purpose.The PF Administrators may on an application from a member in such form as may be prescribed and subject to the condition prescribed in this regard sanction a non refundable advance from the amount standing to the credit of the member in the Fund-(a)for purchasing a dwelling house/flat including a flat in a building owned jointly with others (outright or on hire purchase basis) or for constructing dwelling house including the acquisition of a suitable site for the purpose from the State Govt, and approved co-operative society and institution, a trust, a local body or a housing finance corporation or Rajasthan Housing Board (hereinafter referred to as the agency/agencies);or(b)for purchasing a dwelling site for the purpose of construction of a dwelling house or a ready built dwelling house/flat from any individual;or(c)for the construction of a dwelling house on a site owned by the member or the spouse of the member or jointly by the member and the spouse or for completing/continuing the construction a dwelling house already commenced by a member or the spouse on such site or for the purchase of a house/flat in the joint name of the member and the spouse under clauses (a) and (b) above.Note. - In this regulation, the expression, co-operative society means a society registered or deemed to be registered under the co-operative Societies Act, 1912 (2 of 1912) or under any other law for the time being in force in the State relating to co-operative Societies.
