IREC Rule No.926: Recovery Of Advances
- Recovery Of Advances:-
(1) An advance under Rule 923 shall be recovered from the subscriber in such number of equal monthly installments as the authority sanctioning the advance may direct; but such number shall not be less than 12 unless the subscriber so elects, or more than 24 unless the Railway Ministry so direct. Where, however the amount of advance under provision (c) to sub-rule (g) of Rule 923 exceeds 3 month’s emoluments of the subscriber, the sanctioning authority may suitably increase the number of installments provided that in no case the number of installments shall exceed 60. A subscriber may, at his option, repay more than one installment in a month. Each installment 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 installments.
(2) Recovery shall be made in the manner prescribed in rule 910 for the realization of subscriptions, and shall commence with the issue of pay for the month following the one in which the advance was drawn. Recovery shall not be made, except with the subscriber’s written consent, while he is on leave exceeding 4 days other than leave on average pay or on subsistence grant and may be postponed by the sanctioning authority on the subscriber’s written request when he is repaying an advance of at least a full month’s pay in not more than three installments and the recovery of advance of pay (in addition to provident fund and other recoveries) will result in his getting less than fifty per cent of his basic pay.
(3) Recoveries made under this rule shall be credited as they are made to the subscriber’s account in the fund.