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[Cites 0, Cited by 0] [Section 16] [Entire Act]

State of Rajasthan - Subsection

Section 16(4) in RSWC Employees General Provident Fund Regulations, 1990

(4)
(a)After the principal of the advance has been fully repaid interest shall be paid thereon at the rate of one-fifth percent of the principal for each month or broken portion of a month during the period between the drawal and complete repayment of the principal in accordance with the formula.
Principal x Time x Rate100
(b)Interest shall ordinarily be recovered in one instalment in the month after complete repayment of the principal, but, if the period referred to in clause (a) exceeds twenty months, interest may. if the subscriber so desires, be recovered in two equal monthly instalments. The method of recovery shall be that prescribed in sub-rule (2). Payments shall be rounded to the nearest rupee.