Section 43(8) in The Indira Gandhi Agriculture University, Raipur Statutes, 1987
(8)if the amount withdrawn exceeds the actual cost of the purchase or construction or repairs, remodelling of the house and/or site, or if the amount is not utilised for the purpose for which it is withdrawn the excess or the whole amount, as the case may be, shall be refunded to the Committee forthwith in one lump-sum together with interest from the month of such withdrawal at the rate prescribed in Statute 43 (3) (viii). The amount refunded shall be credited to the employee's amount in the Provident Fund;(iii)The withdrawal for the purpose specified in clause (vii) of Statute 43 (1)(a) shall not exceed three months' pay or Rs. 500/- whichever is greater, but shall in no case exceed half the amount to the credit of the employee;(iv)The amount of temporary advance for purchase of plot or site shall not exceed six months' pay or half the balance or actual cost of the site whichever is less and will not be admissible until after completion of five years of service, provided the house site/plot shall not be encumbered or alienated in any manner without prior permission of the Vishwavidyalaya. Repayment of this advance shall be made in not more than 30 instalments.(b)The advance shall in no case exceed the amount of subscriber's own contribution to the fund and interests thereon.(c)For the purpose of this rule, 'pay' means the pay to which the employee is entitled at the time when the withdrawal is granted or, in the case of an employee referred to in sub-rule (2) of Rule 5 of Part A of the Fourth Schedule of the Income-Tax Act, 1961, the pay (including increments, if any) which he would have received had he not entered the armed forces of the Union or been taken into or employed in the National Service;(d)An advance shall not, except for special reasons, be granted until atleast 12 months after the final repayment of all previous advances together with interest unless the amount already advanced does not exceed two-third of the amount admissible under Statute 43 (2) (a) :Provided that an advance may be granted for the payment of insurance premium specified in Para 43 (1)(vi) notwithstanding that sum advanced for any other purpose has not been repaid.(i)A second advance shall not except under special circumstances be granted to a subscriber if more than half the advance given in the first instance is outstanding.(ii)If two advances are running concurrently, a third advance shall not be granted until atleast one year has lapsed since the complete recovery of the first advance together with interest thereon. Advance given for purposes of grains will not be counted in this limit of two advances.
