(1) A separate interest bearing Personal Deposit Account other than as provided under Rule 11 shall be opened by the Treasury Officer on written request of each Board under the head 'Deposit Account of Municipal Board with the District or Sub-Treasury' concerned in the name of the Board/Council. An intimation of the accounts opened by the Treasury/Sub-Treasury Officer shall be given to the Examiner. A pass book shall be supplied to each account holder by the Treasury/Sub-Treasury Officer.
(2) The following shall be credited to the Personal Deposit Account opened with the District Treasury/Sub-Treasury:-
(i) subscriber's subscriptions;
(ii) interest, as provided by rule 12 on the amounts of subscriptions and contributions.
(3) The entire balance of Contributory Provident Fund Accounts of the employees for a Board comprising of their upto date subscriptions. Board's contribution, and interest accrued thereon shall be transferred to the Personal Deposit Account. Investment of existing Provident Fund in Government or Government guaranteed securities, fixed deposits and or time deposits in banks and post offices etc. available with the Board shall be endorsed in favour of the District/Sub-Treasury by the respective Board for being credited to the Personal Deposit Account concerned of the Board on maturity. Cash balance and the amount available under the post office Saving Bank Account or in other Bank Account shall also deposited in the District/Sub-Treasury for being credited in the respective Personal Deposit Accounts.
(4) The Board shall maintain Individual Provident Fund Ledger Accounts in respect of individual employees in which the monthly subscription to Provident Fund and the contribution paid by the Board shall be credited.
(5) For withdrawals from the Personal Deposit Account a separate Cheque Book shall be issued by the Treasury Officer/Sub-Treasury Officer to the Board or the Officer operating the Personal Deposit Account.]