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CHAPTER VII

General Provident Fund

Application of Central Government Rules

31. In the matter of subscription to the General Provident Fund, withdrawal therefrom and in matters incidental thereto, employees of the Akademi shall be governed by the provisions of the General Provident Fund (Central Services) Rules, 1960 as amended from time to time subject to the following modifications:

a) The expression ‘Accounts Officer' means the Deputy Secretary (Accounts) of the Akademi.
b) The expression ‘Head of Office' means, for employees in Groups B, C and D, the Deputy Secretary in charge of Establishment and, for employees in Group A, the Secretary.
c) The expression ‘Government' means the Sahitya Akademi.
d) The expression ‘sanctioning authority' means the Secretary for employees in Groups A & B and the Deputy Secretary (Establishment) for employees in Groups C and D.

Accounts to be maintained In a nationalised bank

32 1. The Deputy Secretary (Accounts) shall maintain particulars of subscription by each employee. The total amount of subscription collected in a month shall be deposited in a separate Savings Bank Account with a nationalised bank. Any amount recovered from employees by way of repayment of advances shall also be deposited in this account.

2. With a view to maximizing interest earned on deposits, the amount at the credit of the Akademi in the Savings Bank Account shall, from time to time, be deposited in a fixed deposit account or invested in government approved securities.

Credit of interest to the account of subscribers

33. The interest admissible on an employee's deposit in the G.P.F. shall earn interest at the rate fixed by the Government of India. At the end of the year, the interest shall credited to the employee's account maintained in the Akademi.

Limit on advances

34. Except for special reasons to be recorded in writing, no advance shall be granted to an employee in excess of the prescribed limit or until the repayment of the last installment of any previous advance.

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