Employees Provident Fund Scheme

Nominations, Payments and Withdrawals From The Fund

Section 68-K: Advance from the Fund for marriages or post-matriculation education of children

The Commissioner or where so authorised by the Commissioner an officer subordinate to him may, on an application from a member, authorise payment to him or her of a non-refundable advance from his or her provident fund account not exceeding fifty per cent of his or her own share of contribution with interest thereon, standing to his or her credit in the Fund, on the date of such authorisation, for his or her own marriage, the marriage of his or her daughter, son, sister or brother or for the post-matriculation education of his or her son or daughter.

(2) No advance under this paragraph shall be sanctioned to a member unless-
(a) he has completed seven years' membership of the Fund;and
(c) the amount of his own share of contributions with interest thereon standing to his credit in the Fund is rupees one thousand or more .

(3) Not more than three advances shall be admissible to a member under this paragraph.

(4) Omitted.

Related Keywords
Advance Wages  Provident Fund