Section 17(5) in RSWC Employees General Provident Fund Regulations, 1990
(5)The Corporation shall ballow final withdrawal of P.F. money for the following purposes on the terms and conditions mentioned against each item:(i)to meet the cost of education of himself or dependent children of the subscriber only outside India for academic, technical, professional or vocational courses beyond High School stage and for Medical, Engineering and other technical or specialised courses, in India, beyond the High School stage provided the course of study is not less than 3 years.(ii)for building, altering or enlarging a house or for acquiring a suitable house, including the cost of site or payment of outstanding amount on account of loan expressly taken for the purpose before the date of receipt of the application for withdrawal.(iii)for the marriage of the subscriber's sons and daughters and if the subscriber had no daughter or any other female relation dependent on him.Terms and conditions for the final withdrawal of P.F. money for educational purposes-(a)The amount of withdrawal has been limited to three months pay or half the amount standing to the credit of the Corporation employee in the case of non CPF or the amount actually subscribed by him alongwith interest standing to his credit in the case of a C.P.F. or 3 months pay whichever is less.(b)The withdrawal can be made 6 monthly and in case of a portion of money withdrawn remaining unspent within 6 months of the withdrawal and where further withdrawal be contemplated during the following half year, the officer is to notify in writing to the sanctioning authority before the expiry of the said period of 6 months to adjust the excess amount in the proposed withdrawal provided such excess amount is not more than 10% of the amount utilised and action to withdraw further amount is taken within one month of the expiry of the 6 month's period.(c)The Officer concerned satisfies the sanctioning authority within the period of 6 months from the date of withdrawal of the money that the amount has been utilised for the purpose for which it was intended otherwise the whole amount of withdrawal together with interest is held liable to be recovered in one lump-sum.(d)Any amount withdrawn from the fund and found in excess of actual requirements of the officer is to be re-deposited forthwith together with interest thereon.Terms & conditions for the final withdrawal of P.F. money for House building purpose:-(a)No final withdrawal save in exceptional cases will be permitted if the Corporation employee has availed of any of the facilities for the grant of house building advance under L.I.G.H. Scheme or under Corporation House Building Advance Rules if any or under any other scheme.(b)Withdrawal from the Fund shall not exceed half the amount standing to the credit of the Corporation employee in the case of non-C.P.F. or the amount actually subscribed by him along with interest thereon standing to his credit in the case of a C.P.F. as the case may be, or the actual cost of the house including the cost of the site or repayment of the loan in that behalf whichever was less. In the case of altering or enlarging a house already owned or acquired by a subscriber without assistance from the Fund or other Corporation sources of funds, subject to the conditions laid down above. The limit has been restricted to a maximum of Rs. 10,000/-.(c)The house proposed to be acquired or redeemed by the Corporation employee with the help of the amount withdrawn as aforesaid should be situated at the place of his duty or his intended place of residence after retirement.(d)Withdrawal is permissible for building, acquisition or redemption of one house only and that too in cases where the Corporation employee does not already own a house at the places referred to above.(e)The construction of the house should be commenced within 6 months of the withdrawal of money and should be completed within a period of one year from the date of the commencement of the construction. Where the house is to be purchased or re-deemed or a private loan previously raised for the purpose has to be repaid, this should be done within 3 months of the withdrawal.(f)In the case of construction of a house withdrawal is to be made in equal installments not less than two and not more than four payment of the second and subsequent installments being made after verification regarding progress of the construction of the house.Note. - While authorising the disbursement of the second and subsequent installments as prescribed in the above clause the administrative authority will attach a certificate to the effect the required formalities in regard to the construction of the house, in pursuance of which the installment has become due have been complied with.(g)The Corporation employee is to submit an annual declaration on in the prescribed form given with annexure (A) on or before 31st December each year and to satisfy the sanctioning authority, if called upon to do so by the production of tax receipts title deeds etc. that the house remains in his sole ownership and that while he is still in service, he has not parted with the possession thereof by way transfer sale, mortgage, exchange, lease for a term exceeding 3 years or otherwise, howsoever without the previous consent of the sanctioning authority in writing, the entire amount withdrawn together with interest thereon at the rate as may be determined in accordance with Rule 13 of the Rajasthan State Warehousing Corporation General Provident Fund Regulations, 1990 being refunded in one installments in the event of default.(h)Where a Corporation employee is subscribing to more than one Provident Fund withdrawal is permissible only in respect of one of these funds to be selected for the purpose by the subscriber, the amount of withdrawal being regulated with reference to the total sum at the credit of the Corporation employee in all the funds to which he is subscribing.(i)Before sanctioning the withdrawal, the administrative authorities satisfy themselves that-(a)The amount is actually required for the purpose of building, acquiring or redeeming a house as mentioned above.(b)The Corporation employee possesses or intends to acquire forthwith the right to build on the site on which the house is proposed to be built.(c)The amount withdrawn together with such other private savings, if any, as the Corporation employee may have, would be sufficient to build, acquire, or redeem the house of the type proposed.(d)The applicant has an approved plan from local authorities.(e)In the case of withdrawal for the purchase of a ready built house, the applicant secures an undisputed title to the house and the land on which the house is built within a period of three months from the date of withdrawal of the amount.(f)The applicant has signed an undertaking in the form annexed (Annexure A').Annexure 'A'ToThe Managing DirectorRajasthan State Warehousing CorporationJaipur.Sir,In consideration of the Rajasthan State Warehousing Corporation (hereinafter referred to as "the Corporation") having agreed at my request to permit, for the purposes of building or acquiring a suitable house including the cost of the site thereof, withdrawal of the sum of Rs............. (Rupees.........) only from the amount standing to my credit in the ........... Fund.hereby undertake to observe and perform the terms and conditions contained therein so far as they are applicable to me and, in particular to comply with the following terms and conditions, namely:-
