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University Grants Commission - Sri Lanka

Commission Circular No: 433

9th March, 1990.

 

Vice-Chancellors of Universities,
Directors of Institutes.


 

PAYMENT OF LOANS FROM THE UNIVERSITIES PROVIDENT FUND


The University Grants Commission, at its 286th meeting held on the 3rd January 1990, decided to pay to those employees who have obtained loans from the Universities Provident Fund prior to January 1989, the difference in the UPF loans arising from the salary revisions implemented in terms of Commission Circular numbers 396, 398 and 402. The Commission was of the view that this payment should be made as a welfare measure to the employees, despite the many administrative difficulties in its implementation.

Only the following categories of employees are eligible to receive the difference in the UPF loan as a result of the revised salaries implemented on 1 January 1989.

(i) Every employee applying for this difference in the loan, should have obtained the UPF loan for the first time, prior to January 1989.

(ii) These applicants should not have received any loan benef its in terms of Commission Circular No.409.

3. While agreeing to pay the difference in the UPF loans only to the above two categories of employees, the Commission decided to implement the scheme in the following manner, taking into consideration the difficulties which would be encountered in the re-computation of loans.

(i) Each Higher Educational Institution/Institute should make a request to the University Grants Commission on behalf of all the applicants who apply for loans in terms of this circular.

(ii) The revised loan entitlement (column 6 of the annexed schedule) should not exceed the final column of the Provident Fund Computer Statements Issued for 1989, viz; the Provident Fund balance as at 31 December 1989.

(iii) Special care should be taken to indicate correctly, the names and the UPF numbers of the applicants. (In this connections youare kindly requested to follow the guidlines given in the Account's letter of 21 August 1989, Refewrence UGC/PF/L). The UGC will be reluctantly completed to delete the names of any employees from the loan lists, if their names and numbers do not agrees with the computerised data, and under no circumtances can they be paid on a second list.

(iv) Each Higher Educational Institution/Institute should furnish a loan application list in terms of this circular, only once. It is the responsibility of each Institution/Institute, to bring the contents of this circular to the timely notice of all employees We wish to emphasise that loan applications should not be sent to this office more than once under any circumstances, as this would complicate and disorganise the efforts of the Commission in granting these loans.

4. Guidelines already issued by the Commission with respect to the payment of UPF loans should be followed in the payment of loans under this circular. It is essential that the 75% limit of the Provident Fund balance is re - calculated, taking into account all other loans paid up to date. Furthermore, the monthlyinstallment recoveries should be re-computed, so as to ensure that the loan is fully recovered within the same period, counted from the original date of granting the loan.

5. New applications for loans from the Universities Provident Fund should be furnished in the usual manner. The annexed schedule should be used only to apply for the difference in the UPF loan payable in terms of this circular.

6. You are kindly requested to contact the Accountant of the Commission, if any clarification is needed on the guidelines contained in this circular .

 



(Mrs. CS Karunaratne - Acting Secretary)

Cc:

  • Chairman/UGC
  • Vice-Chairman/UGC
  • Members of the UGC
  • Secretary/UGC
  • Deans of Fulculties
  • Registrars of Universites
  • financial Controller/UGC
  • Bursars of Universities
  • Librarians/SAL/AL of the Higher Educational Institutions/Institutes ;
  • Snr.Asst.Registrars/Asst.Registrars of HEIs /Campuses
  • Snr.Asst.Bursars/Asst.Bursars of HEI a/Campuses
  • Chief Internal Audi tor/UGC
  • Govt. Audit Superintendents of Universities
  • Snr.Asst.Int. Auditors/Asst.Int.Auditors of HEIs
  • Secretaries of Trade Unions
  • Auditor-General

 

 

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