Para 12.20 — MSO (A&E)
Original Rule Text
12.20 For seeing that recoveries on account of principal and interest, if due under rules, are being made regularly as laid down in para 12.19(iv), the following procedures should be observed.
(i) on receipt of the sanctions for a temporary withdrawal, its particulars should be noted in the remarks column of the Ledger Card/Account indicating, inter alia, the amount of the advance sanctioned, the number of instalments in which recovery is to be made, the amount of each instalment and the month of last recovery.
(ii) the receipt of debits on account of and the regularity of the recovery of advances should be watched in the course of monthly postings of ledger cards/accounts as well as in the course of review of postings and check of ledger cards to be conducted by the Accountant/Examiner vide paragraphs 12.42
(ii) and 12.58 while conducting the review/check, the Accountant/ Examiner should extend his examination of the ledger cards/accounts to see:
(a) that there is no delay in the receipt of debits on account of temporary withdrawals;
(iv) The non-receipt of credit of account of recovery of any instalment of advance should be noted and its ultimate recovery watched through the Register of Missing Credits (vide paragraph 12.64).
What This Means
To track the recovery of temporary advances from Provident Funds, the AG must follow a structured procedure. When a sanction is received, full details — amount, number of instalments, each instalment amount, and the month of last recovery — are noted in the ledger card's remarks column. During monthly posting and periodic review, staff must check that advance debits are received on time and principal/interest recoveries are regular. Any missing credit for an instalment must be noted and tracked through the Register of Missing Credits until it is recovered.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1Advance details are recorded in the ledger card remarks column upon receipt of sanction
- 2Monthly postings include a check that advance debits arrive on time
- 3Accountant/Examiner reviews regularity of principal and interest recovery
- 4Missing instalment credits are tracked via the Register of Missing Credits (Para 12.64)
- 5Section Officer exercises the same checks to the prescribed extent
Practical Example
An employee was sanctioned a GPF advance of Rs 1,00,000 recoverable in 20 instalments of Rs 5,000 each. During the monthly posting for August, the Accountant notices that no recovery credit appeared for July. He records this in the Register of Missing Credits and writes to the Head of Office to ensure the July instalment is recovered promptly along with the August instalment.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
What details of a temporary advance must be noted in the ledger card?▼
How are missing recovery instalments tracked?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.