Section 12 in Punjab State Warehousing Corporation Employees' Provident Fund Regulations, 1974
12. Borrowing from the fund and Recoveries.
(1)At the discretion of the Committee, a temporary advance, out of the amount standing to his credit in the Fund, not exceeding in any case, the subscribers' own subscription and interest thereon, may be granted to a subscriber on application, subject to the following conditions :-(a)No advance shall be granted unless the Committee is satisfied that the applicant's pecuniary circumstances justify it and an undertaking is given that it will be expanded on the following object or objects and not otherwise :-(i)to pay expenses incurred in connection with the illness of the subscriber or a member of his family,(ii)to pay expenses incurred in connection with marriage, funerals or ceremonies, which by the religion of the subscriber it is obligatory upon him to perform.(b)An advance shall not -(i)exceed 3 months pay or half the amount of the subscriber's own subscription to the Fund and interest thereon whichever is less, or(ii)be granted until at least 12 months after the final repayment, of all previous advances together with interest thereon.
