(1) The Officer’s basic pay is Rs.38,100/- p.m. or above for registration of Motor Car and a basic pay of Rs.19,500/- p.m. or above in the case of Motor Cycle/Scooter and of Rs.600/- p.m. or above in the case of moped.
(2) The amount of withdrawal is limited to Rs.3,00,000/- in the case of Car and Rs.50,000/- in the case of Motor Cycle/Scooter/Moped etc., or ninety percent of the amount standing at the credit of the subscriber in the General Provident Fund or the actual amount of registration of the Motor Car/Motor Cycle/Scooter/Moped etc, whichever is less.
(3) The deposit receipt should be produced for verification by the concerned administrative authority within a period of one month from the date of drawal. Failure to do so would entail refund of the total amount withdrawn.
(4) If the Officer does not purchase Car/Motor Cycle/Scooter/Moped etc., or opts out the scheme he should immediately deposit the amount of final withdrawal together with interest received thereon from the manufacturer/dealer into the Provident Fund Account.
(5) The Head of the Department sanctioning authority may allow, in special cases, an advance refundable is not more than 36 instalments in the case of officers who may fall short of the minimum service of fifteen years by a period of not more than six months. All other conditions shall not be relaxed.
(6) The officers who have been allowed advance according to sub-rule (5) above are permitted to convert the outstanding amount of advance into final withdrawal after completion of fifteen years of service.
(7) Such withdrawal shall be allowed only on one occasion and only to those who have completed a minimum period of service of fifteen years including broken periods of service if any. Application for withdrawal under this rule shall be made in the form specified in the Form-17. The Head of the Department shall be the sanctioning authority for the purpose of this rule in respect of the employees subordinate to it when all the terms and conditions for the withdrawal are fulfilled; A case of withdrawal by the Head of a Department or a case necessitating the relaxation of any of the terms and conditions shall be referred to Government in the Finance Department.
The actual withdrawal from the fund will be made only on receipt of an authorization from the Accounts Officer, who will arrange for this as soon as the formal sanction of the Competent Authority has been issued. After the withdrawal has been made by the Officer concerned, the sanctioning authorities will satisfy themselves, within one month of the drawal that the conditions mentioned in sub-rule (4) above are fulfilled.