Section 12 in The Rajasthan Municipalities (Contributory Provident Fund and Gratuity) Rules, 1969
12. [ Interest. [Substituted by Notification No. Tax/F. 98 (Misc.) DLB/59, dated 17-1-1981, Published in Rajasthan Gazette, Part IV-C, dated 1-10-1981, page 294.]
(1)At the end of each financial year interest shall be allowed on the minimum balance available in the Personal Deposit Accounts between 6th to the end of each month by the Treasury/Sub-Treasury Officer at such rates as are prescribed by the State Government from time to time which shall be at par with the rate of interest allowed on General Provident Fund of Government Servants. A separate intimation for credit of interest at the end of financial year shall be sent by the District Treasury/Sub-Treasury Officer to the each Board.(2)The Board shall arrange to credit the interest in the respective Provident Fund Ledger Account of the individual employee on pro-rata basis as per balance appearing in such individual's Provident Fund Account.(3)The Board shall arrange to reconcile the Personal Deposit Account with the book of the Treasuries/Sub-Treasuries and obtain certificate of such reconciliation in the respective pass books under the seal and Signature of the District Treasury/Sub- Treasury Officers.]
