Section 17(2) in State Bank of India Employees Provident Fund Regulations, 2015
(2)If a member desires to withdraw any sum under clause (a) of Regulation 16 for the construction of a house, he shall be permitted to do so only in equal instalments of not less than two and not more than four in number; but the withdrawal of any instalment after the first shall be permitted by the trustees only if they are satisfied that there has been sufficient progress in the construction of the house.Explanation : For the purpose of sub-regulation 17(A), the actual expenditure incurred in connection with the execution of any document relating to the transaction may be included in the cost of the house or the amount required for the repayment of the loan.B.(1) Any sum withdrawn by a member under clause (b) of regulation 16 from the Fund shall not exceed half the amount of his own subscriptions and the interest thereon standing to his credit in the Fund or three months' salary, whichever is less.
