Section 68BB(1) in The Employees' Provident Funds Scheme, 1952
(1)(a)The Commissioner or, where so authorised by the Commissioner, any officer subordinate to him, may, on an application from a member, sanction from the amount standing to the credit of the member in the Fund, [withdrawal][for the repayment, wholly or partly, of any outstanding principal and interest of a loan [obtained in the name of the member or spouse of the member or jointly by the member and spouse from a State Government, registered Co-operative Society, State Housing Board, Nationalised Banks, Public Financial Institutions] [Inserted by G.S.R. 507(E), dated 29.9.1981 (w.e.f. 5.9.1981).][, Municipal Corporation or a body similar to the Delhi Development Authority solely for the purposes specified in sub-paragraph (i) of paragraph 68-B.(b)The amount of [withdrawal][shall not exceed the member's basic wages and dearness allowance for [thirty-six months] [Inserted by G.S.R. 507(E), dated 29.9.1981 (w.e.f. 5.9.1981).][or his own share of contributions together with the employer's share of contributions, with interest thereon, in the member's account in the Fund or the amount of outstanding principal and interest of the said loan, whichever is least. [Inserted by G.S.R. 507(E), dated 29.9.1981 (w.e.f. 5.9.1981).]
