IREC Rule No.922: Advances And Withdrawals From The Fund: General

922.    Advances And Withdrawals From The Fund: General:-

(1) The Authority Competent To Sanction An Advance / Withdrawal Under These Rules Is The Controlling Officer, But This Power May Be Exercised By:-

(a)  Chief Personnel Officer / Additional Chief Personnel Officer in the case of Group ‘A’ or Group ‘B’ Officer up to JA Grade;

(b)  A Divisional Officer including a Group ‘A’ or Group ‘B’ officer in independent charge of an office in case of a Group ‘C’ subscriber employed under him; and

(c)  An Assistant Personnel Officer or an officer of an equivalent rank, in the case of Group ‘D’ subscriber.

Railway Ministry’s Decision: The powers of the Controlling Officer in the case of Railway servants employed in the Railway Board may be exercised by the following officers in respect of the Railway servants indicated against each;

[Authority: No.F(E)59PF-6/(2), 26.04.1961, No.F(P)63PFl-41, 10.01.1964, No.80 CR/ESTT/CHAP XIV]

(2)   Dearness pay shall be treated as part of emoluments or pay under Rules 923 to Rule 925.

(3)   The advances / withdrawal may be sanctioned in special cases even after the relevant event, provided;

(a)   The authority competent to sanction the advance/withdrawal is satisfied that  adequate reasons existed for not applying for the advance/withdrawals before the occurrence of the event and necessity still exists for withdrawing the money from the Provident Fund such as for liquidating some previous borrowings, and

(b)   Advance / withdrawals have been applied for not more than 3 months after the event.

(4)   (a)   Withdrawals under Rule 925(1) and 925(2) except for Farm land and Business Premises may be allowed during service of the subscriber.

(b)   In the case of withdrawals under Rule 925(3), 925(4), 925(5) and 925(7) the concession will be further subject to the essential condition that the subscriber has either less than 10 year’s service before superannuation or has completed 15 years service (including broken periods of service, if any), whichever is earlier.

[Authority: No.F(E)III/77-PF 1/3, 27.05.1977, RBE No.15/1996,  No.F(E)III/96/PF-1/1, 27.02.1996, ACS No.39 and, RBE No.27/1996, No.F(E)III/96/PF-1/1, 25.03.1996 ACS No.42]

 (5) A subscriber who has drawn an advance in terms of sub-clauses (2) to (5) of clause (g) or Rule 923, may convert at his discretion, by written request addressed to the Accounts officer through the sanctioning authority, the balance outstanding against him into a final withdrawal on his satisfying the condition necessary for the grant of such a withdrawal.

[Authority: No.F(E)III/77-PF 1/3, 13.02.1981]

(6)   Only one withdrawal shall be allowed for the same purpose under Rule 925. But marriage or education of different children or illness on different occasions or further addition or alteration to a house or flat covered by a fresh plan duly approved by the local municipal body of the area, where the house or fiat is situated shall not be treated as the same purpose.

(7)   A withdrawal under Rule 925 shall not be sanctioned if an advance under Rule 923(g) is being sanctioned for the same purpose and at the same time.

[Authority: No.F(E)III/77-PF 1/3, 27.05.1977]

Government Of India’s Decision: A sanction to an advance / withdrawal shall, unless it is specifically renewed, lapse on the expiry of a period of 3 months. As an exception, a withdrawal which is affected in installments shall remain valid up to a particular date to be specified by the sanctioning authority in the sanction order itself.