Loan facility under public provident fund allows limited borrowing subject to eligibility and repayment conditions. A subscriber under the Public Provident Fund may, between one and five years after the end of the year of initial subscription, apply in Form D with the pass book for a loan up to twenty-five per cent of the amount standing to credit at the end of the second preceding year. The accounts office may sanction the loan after verifying eligibility and continued compliance with subscription limits. Guardian applicants must supply a certificate confirming the amount is for the minor's use and that the minor is alive and still a minor. No new loan while an earlier loan is unpaid with interest.
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Provisions expressly mentioned in the judgment/order text.
Loan facility under public provident fund allows limited borrowing subject to eligibility and repayment conditions.
A subscriber under the Public Provident Fund may, between one and five years after the end of the year of initial subscription, apply in Form D with the pass book for a loan up to twenty-five per cent of the amount standing to credit at the end of the second preceding year. The accounts office may sanction the loan after verifying eligibility and continued compliance with subscription limits. Guardian applicants must supply a certificate confirming the amount is for the minor's use and that the minor is alive and still a minor. No new loan while an earlier loan is unpaid with interest.
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