Section 16B(4) in The M.P. General Provident Fund Rules, 1955
(4)For the purpose specified in sub-clauses (a), (b), (c), (d), (e) and (f) of Clause (B) and in Clause (C) of sub-rule (1) of Rule 16-A :-(i)[ Any sum withdrawn by a subscriber at any one time for one or more of the purposes, from the amount standing to his credit in the fund shall not ordinarily exceed one half of such amount or six months' pay, whichever is less. The sanctioning authority may, however, sanction the withdrawal of an amount in excess of this limit upto ¾ of the balance at his credit in the fund having due regard to (a) the object for which the drawal is being made, (b) the status of the subscriber, and (c) the amount to his credit in the fund provided that in the case of a subscriber who has availed himself of an advance from Government for house building purpose under sub-section (1) of Section IV under Chapter 13 of the Madhya Pradesh Financial Code, Volume I, the sum withdrawn under this sub-rule together with the amount of advance shall not exceed [Rupees five lakhs] [Substituted by Notification No. F.B. 9/1/87/R-II/IV, dated 31-3-1987.].](ii)The whole amount may be allowed to be withdrawn in one instalment in cases of outright purchase of a house-site or ready-made house or for repayment of a loan earlier taken for the purpose and in three equal instalments if the payment for the site is to be made on an instalment basis or withdrawal is intended for construction of house the instalments after the first being authorised by the sanctioning authority after verification regarding progress of construction of the house.Withdrawal of money for the purposes of additions and alterations to a house shall be regulated as under,-Upto Rs. 3,000-in one instalment.Rs. 3,001 to 6,000-in two equal instalments, the second instalment being authorised by the sanctioning authority after verification of progress of the work.Above Rs. 6,000-in three equal instalments, the second and third instalments being authorised after verification of the progress of the work.Withdrawal of the amount to the extent admissible may be allowed in one or more instalments as fixed under rules of M.P. Housing Board where a house is to be acquired on hire-purchase system in accordance with the scheme of the Board.(iii)A subscriber who has been permitted to withdraw money from the fund shall satisfy the sanctioning authority within a reasonable period as may be specified by that authority that the money has been utilized for the purpose for which it was withdrawn and if he fails to do so the whole of the sum so withdrawn or so much thereof as has not been applied for the purpose for which it was withdrawn shall forthwith be repaid in one lump-sum, and in default of such payment it shall be ordered by the sanctioning authority to be recovered from his emoluments either in a lump-sum or in such number of monthly instalments as may be determined by the State Government:[Provided that, before repayment of a withdrawal is enforced under this sub-rule, the subscriber shall be given an opportunity to explain in writing and within fifteen days of receipt of the communication, as to why the repayment should not be enforced, and if the sanctioning authority is not satisfied with the explanation or no explanation is submitted by the subscriber within the said period of fifteen days, it shall be ordered by the sanctioning authority to enforce the repayment in the manner prescribed in this sub-rule.] [Inserted by Notification No. F.B. 9/1/87/R-II/IV, dated 31-3-1987.](iv)A subscriber who has been permitted under sub-clauses (a), (b), (c), (d) and (f) of Rule 16-A (1) (B) and Rule 16-A (1) (C) to withdraw money from the amount standing to his credit in the fund shall not part with the possession of the house so built or acquired or house-site so purchased, by way of sale, mortgage, gift, exchange or lease for a term exceeding three years, without the previous permission of the sanctioning authority. He shall submit a declaration not later than the 31st day of December of every year to the effect that the house or, as the case may be, the house-site continues to be in his possession and shall, if so required produce before the sanctioning authority on or before the date specified by the authority in that behalf, the original sale deed and other documents on which Iris title to the property is based.If at any time before retirement, he parts with the possession of the house or house-site without obtaining the previous permission of the sanctioning authority the sum withdrawn by him shall forthwith be repaid in one lump-sum by the subscriber to the Fund and in default of such repayment, it shall be ordered by the sanctioning authority to be recovered from him in a lump-sum or in such number of monthly instalments, as may be determined by the State Government.
