Telecom Regulatory Authority Of India - Subsection
Section 20(7) in The Telecom Regulatory Authority of India (Contributory Provident Fund) Rules, 2003
(7)In case a subscriber is fund to have drawn from the Fund an amount in excess of the amount standing to his credit on the date of the drawl, the overdrawn amount, irrespective of whether the overdrawal occurred in the course of an advance or a withdrawal or the final payment from the Fund, shall be repaid by him with interest thereon in on lump sum, from in default be ordered to be recovered by deduction in one lump sum, from the emoluments of the subscriber. If the total amount to be recovered is more than half of the subscriber s emoluments, recoveries shall be made in monthly installments of moieties of his emoluments till the entire amount together with interest, is recovered. For this sub-rule the rate of interest to be charged on overdrawn amount would be 2 ½ per cent over and above the normal rate of Provident Fund balance under sub-rule (1). The interest realised on the overdrawn amount shall be credited to a 'Interest Income Account' and be disposed off for the benefit of for benefit of the staff in such a manner as the Board may decide.
