Section 11 in Bihar Contributory Provident Fund Rules, 1948
11.
(1)Government, shall pay, to the credit of the account of a subscriber interest at such rate as the Provincial Government may, from time to time prescribe for the payment of interest on subscription to the General Provident Fund, on the amount at his credit in the Fund.[i(b). All non-Gazetted Government Servants shall be required to subscribe to the Fund the minimum monthly subscription at the rate of 10 per cent of his/her monthly emolument and all Gazetted Government Servants at the rate of 12½ percent of his/her emolument. There shall be no upper limit of the subscription] [Added New Rule 11 (i)(b) vide Notification No. M-1-025/82-4967-F (2), dated 18th May, 1983, Published in Bihar Gazette Part II dated 6.7.1983 at Pg. 525-26.](2)Interest shall be credited with effect from the 31st March, of each year in the following manner-(i)& (ii) [Deleted vide Not. No. M-1-025/82-4967-F (2), dated 18th May, 1983, Published in Bihar Gazette Part II dated 6.7.1983 at Pg. 525-26].(iii)on all sums credited to the subscriber's account after the 31st March, of the preceding year-interest from the date of deposit upto 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 (3) of rule 8.(3)For the purposes of this rule date of deposit shall, in the case of recoveries from emolument, be deemed to be the first day of the month in which they are recovered; and in the case of amounts forwarded by the subscriber, shall be deemed to be the first day of the month of receipt, if they are received by the Account Officer before the fifth day of that month, the first day of the next succeeding month.(4)[ The amount of subscription so fixed shall remain unchanged throughout the year. The subscriber may at his option to increase the amount of subscription during middle of the year but he will not have the option to reduce the amount of subscription during the middle of the year.] [Added New Rule 11(4) vide Not. No. M-1-025/82-4967-F (2), dated 18th May, 1983, Published in Bihar Gazette Part II dated 6.7.1983 at Pg. 525-26] and Old Rule 11(4) deleted along with the proviso.][Notes. [Inserted by Memo No. MI%34-80-4770 F2 dated 10.7.1982. Published in Bihar Gazette Part-II dated August 11, 1982.] - Interest may be paid on sums at the credit of the subscribers in the fund for any period beyond six months and the following officers will be competent to authorise such payments:-(i)Subscribers whose Provident Fund Account is maintained by Accountant-General, Bihar-Accountant-General, Bihar.(ii)Subscribers whose Provident Fund Account is not maintained by Accountant-General, Bihar-Finance Department:Provided that the competent authority has personally satisfied himself that the delay in payment was occasioned by circumstances beyond the control of the subscriber or the person to whom such payment was to be made and in every such case the administrative delay involved in the matter, has been fully investigated and action, any required, taken.](5)Interest shall not be credited to the account of a Muhammadan subscriber if he informs the Account Officer that he does not wish to receive it, but if he subsequently asks for interest it shall be credited with effect from the 1st April, of the year in which he asks for it.(6)The interest on amount which, under sub-rule (3) of rule 17, or sub-rule (3) of rule 19 of sub-rule (1) of rule 21, or sub-rule (1) or sub-rule (2) of rule 22, or rule 24, or rule 25 are replaced at the credit of the subscriber in the Fund, shall be calculated at such rates as may be successively prescribed under sub-rule (1) of this rule and so far as may be in the manner prescribed in this rule.Advances from the Fund
