Section 17 in The General Provident Fund (U.P.) Rules, 1985
17. [ Conditions for withdrawal. [Substituted by Notification No. G-4-642/X-97-502-85, dated 29th July, 1997, published in U.P. Gazette, Part 1-Ka, dated 28th March, 1998, (w.e.f. at once).]
(1)(a)Any sum withdrawn by a subscriber at any one time for one or more of the purposes specified in clauses (a), (c), (d) or (e) of Sub-rule (1) of Rule 16 from the amount standing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. In special cases the sanctioning authority may, however, sanction the withdrawal of an amount in excess of this limit up to ¾ th of the balance at his credit in the Fund having due regard to (i) the object for which the withdrawal is being made, and (ii) the amount to his credit in the Fund :Provided that in no case the amount of withdrawal for purposes specified in sub-clauses (d) and (e) of clause (C) of sub-rule (1) of Rule 16 shall exceed Rs. 25,000.Note 1. - In the case of construction of a house, if the amount of withdrawal exceeds Rs. 40,000 it will ordinarily be permitted to be drawn in two instalments. However, if the subscriber applies for the entire amount of withdrawal to be released in one instalment and the sanctioning authority is satisfied with the justification given therefore, the entire amount may be released accordingly. The sanction will be issued for the entire amount of withdrawal and if it is to be drawn in instalments, the number thereof will be specified in the sanctioning order.Note 2. - For outright purchase of a site, house or flat, or for the repayment of a loan taken for the purpose, the withdrawal may be allowed in one instalment. In cases where a subscriber has to pay in instalments for a site or a house or flat purchased, or a house or flat constructed under scheme, including a Self-Financing Scheme, of a Development Authority, Housing Board, Local Body or House Building Co-operative, Society, he shall be permitted to make a withdrawal as and when he is called upon to make a payment of any instalment. Every such payment shall be treated as a payment for a separate purpose for the purpose of sub-rule (1) of Rule 16.(b)The amount of withdrawal for the purposes specified in sub-clause (i) of clause (B) of sub-rule (1) of Rule 16 shall be limited to Rs 50,000 or one-half of the amount standing to the credit of the subscriber in the Fund or the actual price of the motor car, motor cycle or scooter (including moped), as the case may be, whichever is less.(c)The amount of withdrawal for the purposes specified in sub-clause (ii) of clause (B) of sub-rule (1) of Rule 16 shall be limited to Rs, 5,000 or one-half of the amount standing to the credit of the subscriber in the Fund or the actual amount of repairing or overhauling, whichever is the less.(2)A subscriber who has been permitted to withdraw money from the Fund under Rule 16 shall satisfy is the sanctioning authority within a reasonable period as may be specified by that authority 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 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 from his emoluments either in lump sum or in such number of monthly instalment, as may be determined.Note 1. - The withdrawal for marriage shall be utilised within three months.Note 2. - The construction of the house shall be commenced within six months of withdrawal of money and should be completed within a period of one year from the date of commencement of construction. If, however, the house is to be purchased or redeemed or a private loan previously raised for the purpose has to be repaid, this should be done within three months of the withdrawal.Note 3. - The house-site shall be purchased within a period of one month of the withdrawal, or the withdrawal of the first instalment, as the case may be. In fulfilment of this condition, the sanctioning authority may require the production of receipts issued by the seller, the house building society, etc., in token of the amount of the withdrawal or the withdrawal of any instalment, as the case may be, having been utilised for making payment towards purchase of the site.Explanation. - The actual expenditure incurred in connection with sale or transfer deed may be reckoned as part of the cost of the house or the house site.Note 4. - The withdrawal for an insurance policy shall be utilised by the date on which premium was due to be paid and the subscriber shall be required to produce attested or photostat copy of the receipt issued by the Life Insurance Corporation failing which no further withdrawal for this purpose shall be permitted.(3)A subscriber who has been permitted under sub-clause (a), (b) or (c) of clause (C) of sub-rule (1) of Rule 16 to withdraw money from the amount standing to his 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 Governor), gift, exchange or otherwise, without the previous permission of the Governor :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, Development Authority, Local Body, Nationalised Bank, the Life Insurance Corporation or any other Corporation owned or controlled by the Central or the State Government which advances loan for the construction of a new house or for making additions or alterations to an existing house.]
