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8. Rate of Insterest :-(1) Interest, at the same rate as is fixed by the Government of Gujarat from time to for a subsciber to the General Provident Fund shall be allowed by the Council on the amount at the credit of a subscriber, and shall be credited annually on the 31st March or when any subscriber, quits service or dies while in service,on the date of his quitting service, or death ,as the case may be.
(2) If the insterest payable under this rule exceeds the insterst earned by the Council on the investment of the Provident Fund, such excess shal be provided by the Council.
9. Accounts:-(1) A separate account shall be kept for each subscriber showing the amount of his own personal subscripitions, with the interest theron as it accrues, and his share of the yearly contribution of the Council with interst thereon and the amount of advances outstandig, if any. The account shall be maintained in whole rupees,fractions of a rupee equal to or exceeding fifty paise being ingnored. A copy of his account for the previous year shall be furnished to eac subscriber not later than 31st July in each year .
(2) The Council shalldeposit each year in the Fund an anount to be fixed, with reference to the charges to be met by the Council in payment of liability to the Fund .
(3) The following books of account shall be maintained :-
(a) Provident Fund Ledger,
(b) Register of subscribers;
(c) Provident Fund Cash Book;
(d) Register of Advance and Recoveries;
(e) Investment Register ; and
(f) Interest Account Book.
10. Circumstances in which accumulations are payable:- The total sum at the credit of a subscriber shall be payable to him on the termination of his service-subjest to the right off the Council to deduct therefrom any sum due to themselves of the Council to deduct therefrom any sum due to themselves, provided that, the total sum deducted shall not exceed the total of their contributions credited to his account and, provided that-
(a) a subcriber who regigns his post within five years after his admission to the Fund shall be entitled to recerive his own subscriptions and his share in the complete accrued interst of the Fund, and with the sanction of the Council also the contribution made to his account by the Council.
(b) If a subscriber is permanently disable or invalidated he will ordinarily receive his subscriptions, the contribution of the Council in his behalf, and his share in the whole of the accrued interest at whatever stage of his service, he is disabled or invalidated.
(c) if a subscriber is dimissed or removed from service on ground of gross misconduct or fraud, he shall not be entitled to any contribution by the Council. Such a a subscriber shall be entitled to receive his own subscriptions and his share in the complte accured interest of the Fund,provided that, if the order of dismissal is subsequently cancelled, the amount of the contribution of the Council to his account shall, on his reinstatement in the service, be replaced at his credit in the Fund.
11. Payments:- When the amount standing to the credit of a subscriber in the Fund or the balances thereof after any deduction undre rule 10 becomes payable, it shall be the duty of the Registrar to make Payment as provided in section 4 of the Provident Fund Act, 1925.
12. Advances:-(1) The President standing to the credit of the Registrar, and the Registrar, in the case of other staff, may at their discretion, grant advances to subscribers out of the fund towards any of the following purposes;
(a) to pay expenses incurred in connection with the illness of a surbscriber or a member of his Family :-
(b) to pay expenses in connection with marriages or other ceremonies which by the religion of the subscriberit is incumbent upon him to perform and in connection with which it is obligatory that expenditure should be incurred.
(2) The advance shall not ordinarily exceed three months` pay and shall in no case exceed the amount of the subscriber`s subscriptions including accrued interst.
(3) When an advance has altready been granted to a subscriber, no subsequent advance shall be granted to him, except for very special reason to be recorded in writing, until at least twelve calendar months have elapsed since the complete repayment of the advance taken.
(4) The amount of any anvance to a subscriber under thish rule shall be debited to a separate account of such surscriber as against his own contribulions to the Fund and will operate to reduce protanto the amount standing to his credit in the Fund, from time to time until the advance shall be recovered, the recoveries being credited to the said account of any and when made. No interest has been made of any amount for the time being debited to his account as represtiong an outstanding advance.
(5) An advance shall be recovered from the monthly pay of the subscriber in such number of equal monthly instlments, not being more than 36 inany case , as the sanctioning authority at the time of sanctioning the advance may direct. The recovey shall commence on the first occasion after the advance is made, when the subscriber draws pay or leave salary on full pay for a whole month and shall be in addition to the usual subscription .
Note :- A subscriber may, however, at his option make repayment in less than the number of instalment fixed as hereinabove provided. No instalment will be recovered from the salary of any subscriber who is on leave, unless such leave is leave on full pay. When two or more advances are made, each advance should be treated separately and the monthly deduction of not less than 1/24th of each advance shall be made until the advance is cleared.
(6) The instalment shall be paid by compulsory deductions from substantive pay and shall be in addition to the usual subscriptions.
(7) When an advance is repayable in twelve instalments, an additional instalment representing interest at the rate of 3-1/2 per cent of the amount of the advance shall be paid in the month following that in which the last instalment is paid. Similarly two additional instalments representing interest, ech at the rate of 3-1/2 per cent of the total amount of the advance,sall be paid when the advance is repayable in more than 12 instalments.
Ch.-784-9
In claculating interst as above, a fraction of a rupee shall be taken at the next higher whole rupee if it exceeds fifty paise,and shall be ignoed if it dose not.
13. Withdrawal from Fund :-(1) Subject to the provision this rule, the Council may, at any time after completion of twenty-five years of service of a subscriber or within five years before the date of his retirement on superannuation,whichever is earlier,sanction withdrawal by him from the amount standing to his credit in the Fund for meeting expenditure in connection with the marriage the subscriber`s in connection with the marriage of the subscriber`s son or daughter or any other female relation dependant on him.
(2) In respect of the marriage of the subscriber`s son or daughter or a female relation dependant on him the sum withdrawn by the subscriber under sub-rule (1) shall, subject to sub-rule (3), not exceed-
(a) three months` pay in the case of his son, and six months` pay in any other case, of the subscriber ; or
(b) the amount actuall subscribed by him alongwith interedt theron standing to his credit ; whichever is less.
(3) In special ceses, the maximum limit in clause (a) of sub-rule (2) may be relaxed by the Council, but in no case shall the amount sanctioned exceed six months` pay, in the case of his son, and ten months` pay in any other case, of the subscriber.
(4) If two or more marriages are to be calebrated simultancously, the amounts admissible in respect of each such marriage shall be determined as if the withdrawals are sanctioned separately one after another.
(5) In respect of the same marriage, the subscriber may either withdraw the money under sub-rule (1) of this rule or draw an advance under rule 12.
(6) A subscriber, who has already drawn or drawn in future a refundable advance under rule 12, may convert at his discretion, by written request, the balance outsanding against it into a final withdrawal on his satifying the conditions laid down in this rule.
(7) Withdrawal by a subscriber from the amount standing to his credit in the fund shall be permitted not earlier than three months preceding the month in which the marriage actually takes place.
(8) A subscriber shall furnish a certificate to the Council within the period of one month from the date of marriage, or if he is on leave within one month on return from leane, that the money has actually been utilised for the purpose for which it was withdrawn and if he fails to do so, the whole of the sum so withdrawn or so much therof as has been applied for the purpose for which it was withdrawn together with the interest thereon at the rate determinaed under rule 8, ftrom the month of withdrawal shall be redeposited into the fund forthwith by the subscriber.
14. Nomination :-(1) The Registrar shall, as soon as may be, require every subscriber to the fund to make a nomination conferring the right to receive the amuont that may stand to his credit in the from the service of the Council.
(2) Each subscriber who at the time of joining the Fund, has a family, shall fill in and sing the nomination in From “A” appended to these rules. A subscriber who, at the time of joining the Fund, has no family, shall fill in and sign the nomination in Form ‘B’ appended to these rules. Provided that a nomination made in Form ‘B’ shall be deemed to have been made in accordance with these rules only for so long as the subscriber has no family.
(3) If the subscriber at any time acquires a family, he shall fill in and sign the nomination in From “A” and forwade the same to the Registrar as provided hereinabove, and if he has under this rule nominated nany person other than a member of his family, he shall cancel the previous nomination
(4) A subscriber may in his nomination distribute the amount that may stand to his credit in the Fund amongest his nomination at his own discretion
(5) A nomination may be cancelled by a subscriber and replaced by any nomination which is permitted to be made under thish rule.
15. Interpretation:- The power of interpretion these rules and of deciding cases of dispute or doubt is vested in Government whose decision on all matters appertaining to and arising out of these rules or the disputes there under shall be final.
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