Section 14(3) in Orissa State Financial Corporation Employees' Provident Fund Regulations, 1959
(3)(a)After the principal of the advance has been fully paid interest shall be paid thereon at the rate of one fifth per cent of the principal for each month or broken portion of a month during the period between the drawal and complete payment of the principal :Provided that Mohammedan subscribers whose deposits in the Fund carry no interest shall not be required to pay into the Fund any additional instalments on account of interest on advances granted to them from the Fund.(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) of this Sub-regulation exceeds twenty months, interest may, if the subscriber so desires be recovered in two equal monthly instalments. The method of recovery shall be rounded to the nearest rupee in the manner provided in Regulation 7.
