Administration Manual - B.E.S.T. Undertaking.

service. The board may on an application from a member sanction from the
amount standing to the credit of the member in the fund a withdrawal of an
amount not exceeding 36 months Basic Wages + D.A. or his own share of
contribution together with Committee’s share of contribution or the balance
amount of actual cost of the dwelling house / flat or the amount asked by the
employee which ever is less ( in case of purchase of dwelling site the amount will
be 24 months Basic Wages + D.A.
However, as per notification dated 03.10.2003 from RPFC wherein it was
mentioned that the Commissioner or where so authorised by the Commissioner
any officer subordinate to him may on sufficient grounds being shown through
an application from a member in this regard reduced the period as stipulated
from 5years to 3 years for withdrawal of P.F. for housing purpose.
The advance is also granted for house alteration/additions, wherein
the quantum is 12 months Basic Wages + D.A. or employee’s own contribution
or the quoted cost of alteration whichever is less.
The member can withdraw Provident Fund credited in his account for
repayment of housing loan taken for purchase of dwelling house, provided that
the completed membership should be 10 years and the payment shall be made
direct to such financial institution.
(ii) For Medical expenses:-
This is given to the extent of 6 month’s basic pay when employee or
member of his family is sick and needs to undergo operation or one month
hospitalization provided a certificate from the registered medical practitioner is
submitted by the employee.
(iii) Advance for daughter’s marriage/post-matriculation
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