Section 3A in The Maharashtra Educational Institutions (Regulation of Fee) Act, 2011
3A. [ Payment of fee and penalty for late or non payment. [Inserted by Maharashtra Act No. 28 of 2019, dated 26.8.2019.]
(1)The fee shall be paid by the parents monthly or bi-monthly or quarterly, as decided by the school management:Provided that, if the parents of the children intends to pay the fee half-yearly or yearly, the management of the school shall allow parents to pay the fee accordingly and may at their discretion offer rebate.(2)The management of the private unaided schools and permanently unaided schools shall be entitled to charge a delay payment fee or late payment fee, with penal interest. The rate of penal interest shall be such, as may be decided by the Government by order.]
