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

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have already been made, the employee may take a fresh advance
without repaying the balance which is adjusted with interest from the
fresh advance taken.
The extent of advance is not more than a one third of the employee’s
own contribution + interest accrued thereon or three times the last
substantive salary drawn + D.A. + other allowances where applicable,
whichever is less.
5.9.1.1 PROCEDURE FOR CHECKING
The eligibility and correctness of amount is checked as follows:
a) that the name, check number, designation, amount of payment, on
the application form corresponds with that shown on the Ledger
folio/computerized statement.
b) that at least 16 months have elapsed since the last advance or that
at least 16 deductions have been made by way of recoveries towards
last advance;
c) that the amount applied for and recommended is 1/3 of the
employee’s contribution + accrued interest thereon or 3 times the
last substantive salary drawn + DA + other allowances where
applicable, whichever is less;
d) that the amount recommended is the nearest amount divisible by
24;
e) that the reason stated for the advance is for the purpose admissible
by the Trustees. The purposes for which an advance can be
performed or for any other reason permitted by the competent
authority from time to time;
f) that signatures of the applicant and of al authorities certifying or
recommending the advance are obtained;
g) that the advance payable has been arrived at by taking into account
any non-refundable advances taken earlier under the rules
admissible for reasons such as
i] for repairs of one’s own house;
ii] for building one’s own house;
iii] for purchase of site for building one’s own house;
iv] for purchasing a flat on ownership basis in a