(1)Subject to the provision of Rule 157 the Market Committee shall pay to the credit of the account of the subscriber interest at such rate (not less than the rate fixed for General Provident Fund of State Government employees) as Director may fix from time to time :Provided that the rate which has been fixed in the first instant will hold good until it is altered by the Director under this rule.(2)Interest shall be credited with effect from the 1st April of each year in the following manner :(i)on the amount at the credit of a subscriber on the 31st March of the preceding year less any sums withdrawn during the current year interest for twelve months;(ii)on sums withdrawn during the current year interest from the 1st April of the current year up to the last date of the month preceding the month of withdrawal;(iii)on all sums credited to the subscriber's account after the 31st March of the preceding year interest from the date of deposit up to 31st March of the current year;(iv)if the total amount of interest contains a fraction of rupee it shall be rounded to the nearest whole rupee (fifty paise being rounded to the next higher rupee).(3)For the purpose of this rule the date of deposit shall, in the case of recoveries from emoluments, be deemed to be the 1st day of the month in which they are recovered, and in the case of amount forwarded by the subscriber shall be deemed to be the first day of the month of receipt if they are received by the Chairman before the fifth day of that month or if they are received on or after the fifth day of that month the first day of the next succeeding month.(4)In addition to any amount to be paid under Rule 161 interest thereon upto the end of the month proceeding that in which payments made, or up to the end of the month after the month in which such amount became payable, whichever of these periods be less, shall be payable to the persons to whom such amount is to be paid.
