Section 15 in The Oil Industry Development Board Staff Provident Fund Rules, 2013
15. Condition for withdrawal.
(1)(a)Any sum withdrawn by a subscriber at any one time for one or more of the purposes specified in rule 14 from the amount standing to his credit in the Fund shall not ordinarily exceed one half of such amount or six months pay whichever is less.(b)The Chief Accounts Officer may, however, sanction the withdrawal of an amount in excess of this limit up to three fourths of the balance at his credit in the Fund having due regard to-(i)the status of the subscriber;(ii)the object for which the withdrawal is being made;(iii)the amount standing to the credit of the subscriber in the Fund:Note: Withdrawal may be allowed up to 90% of the amount at credit of the subscriber in respect of cases specified in clauses (B) and (C) of sub-rule (1) of rule 14:Provided that in no case the maximum amount of withdrawal for purposes specified in clause (B) of sub-rule (1) of rule 14 shall exceed the maximum limit prescribed for the house building advance in Oil Industry Development Board regulations:Provided further that in the case of a subscriber who has availed himself of an advance for house building purposes from the Board or under a scheme sponsored by the Central Government for the grant of house building advance or has been allowed any assistance in this regard from any other Government source, the sum withdrawn under this sub-rule together with the amount of advance taken from the Board or under the aforesaid scheme or the assistance taken from any other Government shall not exceed the maximum limit prescribed for the house building advance in Oil Industry Development Board regulations.Note.- In cases where a subscriber has to pay in installments for a site or a house or flat purchased, or a house or flat constructed through the Delhi Development Authority or a State Housing Board or a house building cooperative society or similar agency, he or she shall be permitted to make a withdrawal as and when he or she is called upon to make a payment for a separate purpose for the purposes of rule 14.(2)A subscriber who has been permitted to withdraw money from the Fund under rule 14 shall satisfy the Chief Accounts Officer within a reasonable period as may be specified by him that the money has been utilised for the purpose for which it was withdrawn, and if he fails to do so, the whole of the sum so withdrawn or so much thereof as has not been utilised for the purpose for which it was withdrawn shall forthwith be repaid in one lump sum by the subscriber to the Fund and in default of such payment, it shall be ordered by the sanctioning authority to be recovered by deduction from his or her emoluments either in a lump sum, or in such number of monthly installments, as may be directed by the Chief Accounts Officer.(3)(a)A subscriber who has been permitted under sub-clause (a) or sub-clause clause (b) or sub-clause (c) of clause (B) of sub-rule (1) of rule 14 to withdraw money from the amount standing to his or her credit in the Fund, shall not part with the possession of the house built or acquired or house site purchased with the money so withdrawn, whether by way of sale, mortgage (other than mortgage to the Secretary), gift, exchange or otherwise without the previous permission of the Secretary:Provided that such permission shall not be necessary for -(i)the house or house-site being leased for any term not exceeding three years; or(ii)its being mortgaged in favour of a Housing Board, Nationalised Bank or the Life Insurance Corporation or any other Corporation owned or controlled by the Central Government which advances loans for the construction of a new house or for making additions or alternations to an existing house.(b)The subscriber shall submit a declaration not later than the 31st day of December of every year as to whether the house or the house-site, as the case may be, continues to be in his possession or has been mortgaged or otherwise transferred or let out as aforesaid and shall, if so required, produce before the Secretary on or before the date specified by the Secretary in that behalf, the original sate, mortgage or lease deed and also the documents on which his title to the property is based.(c)If, at any time before his retirement, the subscriber parts with the possession of the house or house-site without obtaining the previous permission of the Secretary, he or she shall forthwith repay the sum so withdrawn by him from the Fund in lump sum to the Fund, and, in default of such repayment, the Secretary shall, after giving the subscriber a reasonable opportunity of making a representation in the matter, cause the said sum to be recovered from the emoluments of the subscriber either in a lump sum or in such number of monthly installments, as may be determined by the Secretary.Explanation.- A subscriber who has taken loan from Government and in lieu thereof has mortgaged the house or house site to the Government shall be required to furnish a declaration to the following effect, namely :-"I do hereby certify that the house or house-site for the construction of which or for the acquisition of which I have taken a final withdrawal from the Provident Fund continues to be in my possession but stands mortgaged to Government".
