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FUNCTION OF SBCO - PROCESS ORIENTED. PPF. CHECKING OF VOUCHERS –HO/SO. General check- ALL VOUCHERS % check- (i) All vouchers relating to loans, withdrawals and interest recovered on loans. (ii) All final closures. (iii) 4% of deposit transactions.
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CHECKING OF VOUCHERS –HO/SO • General check- ALL VOUCHERS • % check- • (i) All vouchers relating to loans, withdrawals and interest recovered on loans. • (ii) All final closures. • (iii) 4% of deposit transactions. • The checks will apply uniformly to accounts maintained either manually or on computers.
RECOVERY OF DEFAULT FEE • As per Rule 7 (2) of P.P.F. Rules amended w.e.f 1.4.1983 the Accounts Office has been authorised to condone the default in payment of subscription by charging a fee of Rs.50/- along with arrears of subscription of Rs.500/- for each year of default. • While the arrears of subscription will be credited to the P.P.F. account, the default fee will be credited under the head "Unclassified Receipts". The amount of default fee will be noted separately on both foils of the pay in-slip.
A remark regarding collection of default fee will also be made in the pass book, the list of transactions and the ledger in the remarks column. • The receipt in form ACG-67 is attached to the foil of the pay-in-slip which will be sent to the SBCO. • The SBCO will check that the default fee is correctly recovered and accounted for.
