Accountant General (Audit)
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What is the system of recovery in case of overdrawal from GPF account ?
In case a subscriber is found to have drawn from the fund an amount in a excess of the amount standing to his credit on the date of the drawal, the overdrawn amount, irrespective of whether the overdrawal occurred in the course of an advance or a withdrawal on final payment from the fund, shall be repaid by him with interest 2 1/2% over and above the normal rate of Provident Fund. In case the subscriber is still in service, the amount shall ordinarily be repaid by him or recovered from him in one lump sum, but if the total amount to be recovered is more than half of the subscriber's emoluments, the recovery may be made in monthly installments as may be determined, taking into consideration the period left before the retirement of the subscriber. In case, a subscriber is no longer in service, the entire amount with interest shall be repaid by him or recovered from him in one lump sum. In all cases of the overdrawals where the overdrawn amount or a part thereof, with interest, cannot be recovered by other means, it shall be recovered as arrears of land revenue.