Section 16(1) in The General Provident Fund (Central Service) Rules, 1960
(1)Any sum withdrawn by a subscriber at any one time for one or more of the purposes specified in Rule 15 from the amount standing to his credit in the Fund shall not ordinarily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. The sanctioning authority may, however, sanction the withdrawal of an amount in excess of this limit up to ¾ ths of the balance at his credit in the Fund having due regard to (i) the object for which the withdrawal is being made, (ii) the status of the subscriber, and (iii) the amount to his credit in the Fund [in case of withdrawal under Clause (A) and up to 90% of balance at credit in cases of withdrawals under Clause (B) of sub-rule (1) of Rule 15] [Inserted vide Notification No. 20(11)-PP&PW/86-GPF dted the 23rd October, 1990 published as S.O No.3006 in the Gazette of India dated the 17th November, 1990.].Provided that in no case the maximum amount of withdrawal for purposes specified in Clause (B) of sub-rule (1) of Rule 15 shall exceed the maximum limit prescribed from time to time under Rules 2 (a) and 3 (b) of the Scheme of the Ministry of Works and Housing for the grant of advances for house-building purposes:Provided further that in the case of a subscriber who has availed himself of an advance under the Scheme of the Ministry of Works and Housing for the grant of advances for house-building purposes, or has been allowed any assistance in this regard from any other Government source, the sum withdrawn under this sub-rule together with the amount of advance taken under the aforesaid Scheme or the assistance taken from any other Government source shall not exceed the maximum limit prescribed from time to time under Rules 2 (a) and 3 (b) of the aforesaid Scheme:[Provided further that the withdrawal admissible under Rule 15 (1) (C) shall not exceed 90% of the amount standing to the credit of the subscriber in the fund.] [Inserted vide Notification No. 20 (26)-P & P. W./88-E, dated the 8th November, 1990.][Note 1. - A withdrawal to a subscriber under sub-clause (a) of Clause (A) of sub-rule (1) of Rule 15, may be permitted annually so long as the concerned child of the subscriber continues to pursue the course.] [Substituted vide Notification No. 45/44/97-P & P.W. (F), dated the 18th November, 1998 and published as S.O. 2500 in the Gazelle of India, dated the 5th December, 1998.]Note 2. - 1n cases where a subscriber has to pay in instalments for a site or a house or 11at purchased, or a house or flat constructed through the Delhi Development Authority or a State Housing Board, a House Building Co-operative Society, he shall be permitted to make a withdrawal as and when he is called upon to make a payment in any instalment. Every such payment shall be treated as a payment for a separate purpose for the purposes of sub-rule (1) of Rule 16.Note 3. - In case the sanctioning authority is satisfied that the amount standing to the credit of a subscriber in the Fund is insufficient and he is unable to meet his requirements otherwise than by withdrawal, the amount already withdrawn by the subscriber from the Fund to finance any insurance policy or policies under rule 17, may be taken into account as an addition to the actual amount standing to his credit in the Fund for the purpose of the limit laid down in this sub-rule. After the amount of withdrawal admissible has been so determined-(i)if the amount so determined exceeds the amount already withdrawn from the Fund to finance insurance policy or policies under rule 17, the amount so withdrawn may be treated as final withdrawal and the difference, if any, between the amount so treated and the total amount of withdrawal admissible may be paid in cash; and(ii)if the amount so determined does not exceed the amount already withdrawn from the Fund to finance any insurance policy or policies under rule 17, the amount so withdrawn may, irrespective of the limit specified in sub-rule (1), be treated as final withdrawal.For the above purpose, the Accounts Officer shall reassign the policy or policies to the subscriber or to the subscriber and the joint assured, as the case may be, and make it over to the subscriber who will then be free to utilize the same for the purpose for which it has been released.
