Section 14 in Bihar Contributory Provident Fund Rules, 1948
14.
(1)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 instalments.(2)Recovery shall be made in the manner provided in rule 9 for the realization of subscriptions and shall commence on the first occasion after the advance is made on which the subscriber draws pay, or remuneration of foreign service, for a full month. Recovery shall not be made while the subscriber is on leave or, in receipt of subsistence grant; and may be postponed by the sanctioning authority during the recovery of an advance of pay granted to the subscriber.(3)If more than one advance has been made to a subscriber, each advance shall be treated separately for the purposes of recovery.(4)(a)After the principal of the advance has been fully repaid, interest 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 sub-rule (2). Payments shall be rounded to the nearest rupees in the manner provided in sub-rule (3) of rule 8.(5)Recoveries made under this rule shall be credited, as they are made to the account of the subscriber in the Fund.Payments towards Insurance Policies and Family Pension Fund
