Section 14 in Rajasthan State Warehousing Corporation Employees Provident Fund Regulation, 1962
14. Borrowing from the Fund and Recoveries.
(1)At the discretion of the Committee a temporary advance, not exceeding in any case the subscriber's own subscription and interest thereon, may be granted to a subscriber on application, out of the amount standing to his credit in the Fund, 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 expended on the following object or objects and not otherwise:(i)to pay expenses incurred in connection with the prolonged illness of the subscriber or any person of his family or in special circumstances of any other person dependent upon him,(ii)to pay obligatory expenses in a scale appropriate to the subscriber's status in connection with marriage, funeral or any ceremony relating to any person referred to in clause (i),(iii)to meet any other expense or liability which in the opinion of the Committee is extraordinary and beyond the ordinary means of the subscriber.(b)An advance shall not, except for special reasons to be recorded in writing by the Committee:-(i)exceed 3 month's pay or half the amount of the subscriber's own subscriptions 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 unless the amount already advanced does not exceed two-thirds of the amount admissible under sub-clause (i).(2)[(a) An advance shall be recovered from the subscriber in such number of equal monthly installments as the committee may direct but such number shall not be less than 12 and more than 60, unless the subscriber otherwise elects. A subscriber may at his option repay more than one installment in one month. Each installment shall be a number of whole rupees the amount of advance being raised or reduced, if necessary, to admit the fixation of such installments.] [Substituted by Notification No. RSWC/Admn./RSWC (EPF) Regulations, 1962/F. 42 (III)/97-98/23089, dated 20-12-2000, Published in Rajasthan Gazette, Part VII, dated 21-12-2000, page 195.](b)Recoveries shall commence when the subscriber draws his pay for the full month for the first time after the advance is made. Recovery shall not be made, except with the subscriber's consent while he is on leave other than ordinary leave on full average pay, or in receipt of subsistence grant.(c)Recoveries made under this regulation shall be credited as they are made to the subscriber's account in the fund.(i)[ After the principal of the advance has been fully repaid, interest shall be recovered at a rate determined by the Committee which shall be 1% higher than the rate of interest declared for the last year.] [Substituted by Notification No. RSWC/Admn./RSWC (EPF) Regulations, 1962/F. 42 (III)/97-98/23089, dated 20-12-2000, Published in Rajasthan Gazette, Part VII, dated 21-12-2000, page 195.](ii)[ Whole of the interest shall ordinarily be recovered in the month after complete repayment of the principal but if the period of repayment of advance exceeds 20 months, interest may, if the subscriber so desire be recovered in twelve equal installments.] [Substituted by Notification No. RSWC/ADM/RSWC/(EPF) Regulations, 1962/F. 42 (III) 97-98/22593, dated 16-12-2002, Published in Rajasthan Gazette, Part VII, dated 19-12-2002, page 293.](d)If more than one advance has been granted to a subscriber, each advance shall be treated separately for the purpose of recovery.
