Section 14(2) in The Maharashtra Housing and Area Development Authority Contributory Provident Fund Rules, 1985
(2)Interest shall be credited with effect from the 31st March of each year in the following manner, namely :-(i)On the amount at the credit, of a subscriber on the 31st March of the preceding year, less any sums withdrawn during the current year interest for twelve months;(ii)On sums withdrawn during the current year interest from the 1st April of the current year upto the last day of the month preceding the month of withdrawal;(iii)On all sums credited to the subscriber's account after the 31st March of the preceding year interest from the date of deposit unto the 31st March of the current year;(iv)The total amount of interest shall be rounded to the nearest rupee in the manner provided in sub-rule (7) of rule 11 :Provided that, when the amount standing at the credit of a subscriber has become payable, interest shall thereupon be credited under this sub-rule in respect only of the period from the beginning of the current year or from the date of deposit as the case may be upto the date on which the amount standing at the credit of the subscriber become payable.
