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[Cites 0, Cited by 0] [Section 16B(4)] [Section 16B] [Entire Act]

State of Madhya Pradesh - Subsection

Section 16B(4)(i) in The M.P. General Provident Fund Rules, 1955

(i)[ Any sum withdrawn by a subscriber at any one time for one or more of the purposes, from the amount standing to his credit in the fund shall not ordinarily exceed one half of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 upto ¾ of the balance at his credit in the fund having due regard to (a) the object for which the drawal is being made, (b) the status of the subscriber, and (c) the amount to his credit in the fund provided that in the case of a subscriber who has availed himself of an advance from Government for house building purpose under sub-section (1) of Section IV under Chapter 13 of the Madhya Pradesh Financial Code, Volume I, the sum withdrawn under this sub-rule together with the amount of advance shall not exceed [Rupees five lakhs] [Substituted by Notification No. F.B. 9/1/87/R-II/IV, dated 31-3-1987.].]