Recovery of Over payment from GP Fund and age for 100% Non Refundable Advance dt 12.12.2002
OFFICE MEMORANDUM
Subject: Recovery of Over payment
No. FD.SR.I 2-1/2000. In exercise of the Powers conferred upon him under Section 23 of the Punjab Civil Servants Act, 1974 (VIII of 1974), the Governor of the Punjab is pleased to direct that in the Punjab Provident Fund Rules 1978, the following further amendment shall be made:-
- In rule 1.13, under sub rule 6, after Explanation 2, the following new Explanation 3 shall be added:
“(Explanation 3-The adjustment of overpayment shall be made from the balance outstanding in the General Provident Fund of the subscriber to the extent of interest in that amount and not from the contribution made by the official from his salary).”
- Rule 1.16 shall be substituted by the following:-
1.16. A subscriber who has attained the age of 50 years may draw non-refundable advance to the extent of 100% balance in the account on the date of application for the grant of advance, without assigning any reason.”
- Rule 1.17. shall be substituted by the following:-
“1.17. No second advance on non-refundable basis shall be allowed unless a period of one year has elapsed since the draw of the previous advance.”
