Section 13 in The Haryana Khadi and Village Industries Board Contributory Provident Fund Regulations, 1975
13. Recovery of advances.
- (i) An advance shall be recovered from the subscriber in such number of equal monthly instalments as the sanctioning authority may direct; but such number shall not be less than twelve unless the subscriber so elects, or in any case more than twenty-four. A subscriber may at his option make repayment in a smaller number of instalments than that prescribed. Each instalment shall be a number of whole rupees, the amount of the advance being raised or reduced, if necessary, to admit of the fixation of such instalment.(ii)Recovery shall be made in the manner provided in regulation 9 for the realisation of subscriptions and shall commence on the first occasion after the advance is made on which the subscriber draws emoluments, other than leave salary or subsistance grant for a full month. Recovery shall not be made, except with the subscriber's consent, while he is on leave or is in receipt of subsistance grant.(iii)If more than one advance has been made to be a subscriber each advance shall be treated separately for the purpose of recovery.(iv)(a)After the principal of the advance has been fully repaid, interests shall be paid thereon at the rate of one-fifth per cent of the principal for each month or broken portion of a month during the period between the drawal and complete repayment of the principal.(b)Interest shall ordinarily be recovered in one instalment in the month after complete repayment of the principal but if the period referred to in clause (a) exceeds twenty months, interest, may, if the subscriber so desires, be recovered in equal monthly instalments. The method of recovery shall be that provided in clause (ii). Payments shall be rounded to the nearest rupee in the manner provided in clause (iv) of regulation 10.(v)If an advance has been granted to a subscriber and drawn by him and the advance is subsequently disallowed before repayment is competed, the whole or balance of the amount withdrawn shall with interest at the rate provided in regulation 11, be repaid forthwith by the subscriber to the Fund or in default be ordered by the Accounts Officer to be recovered by deduction from the emoluments of the subscriber by instalments or otherwise as may be directed by the authority laid down in clause (2) of regulation 12.(vi)Recoveries made under the rule shall be credited as they are made, to the account of the subscriber in the Fund.
