Conditions for withdrawal for various purposes

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....by an employee, whose pay does not exceed rupees five thousand per month, shall be subject to the following conditions, namely :- (a) the amount of withdrawal shall not exceed one-half of the employees contributions to the fund with interest thereon; (b) the employee shall have completed seven years of service; (c) the amount of the employees contributions to the fund with interest thereon is not less than rupees one thousand. (2) The withdrawal for the purpose specified in clause (d) and clause (dd) of sub-rule (1) of rule 68, by any employee whose pay exceeds rupees five thousand per month, shall be subject to the following conditions:- (i) the amount of withdrawal shall not exceed one-half of t....

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....is not utilised for the purpose for which it is withdrawn, the excess or the whole amount, as the case may be, shall be refunded to the trustees forthwith in one lump sum together with interest from the month of such withdrawal at the rate prescribed in sub-rule (4) of rule 71. The amount refunded shall be credited to the employees account in the provident fund. (2A) The withdrawal for the purpose specified in clause (d) of sub-rule (1) of rule 68, by any employee whose pay does not exceed rupees five thousand per month, shall be subject to the following conditions, namely:- (i) the amount of withdrawal shall not exceed (a) the employees basic wages and dearness allowance for thirty-six months; or (b)....

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....f instalments (not exceeding four) as the trustees of the fund think fit; (vi) where the withdrawal is for the construction of a house, the construction of the house should be commenced within six months of the withdrawal and should be completed within twelve months of the withdrawal of final instalment; (vii) if the withdrawal is made for the purchase of a house and/or a site for a house, the purchase should be made within six months of the withdrawal; (viii) if the amount withdrawn exceeds the actual cost of the purchase or construction of the house and/or site or if the amount is not utilised for the purpose for which it is withdrawn, the excess or the whole amount, as the case may be, shall be r....