The following type of advances are admissible to employees of the BCET. The term employee used here- in after includes the persons on deputation with the College, unless the context implies otherwise:

1. Interest Free Advance

1. Advance of pay and T.A. on transfer.
2. Advance of T.A. on tour.

1. Advance for the purchase of Motor Car and Motor Cycle ( including Scooters).
2. Advance for the purchase of bicycles.
3. Festival Advance

1. The recovery of advance of pay should commence from the month in which employee draws full month’s pay or leave salary as the case may be on joining his new appointment. The advance of pay may be recovered in three equal monthly installments.
2. The advance of T.A. should be recovered in full in the T.A. bill which should be submitted as soon as the journey is completed. If any member/ members of the family does/ do not complete the journey with the employee the amount of advance pay be adjusted in two T.A. bills. The first T.A. bill should indicate the amount required to be adjusted and the names of the members of the family in respect of whom the T.A. bill is to be submitted subsequently. In case, the T.A, bill is not submitted in respect of the journey within one year of the date of joining at the new station, the whole amount maybe deducted from the pay of the official/ officer concerned in lump sum.

1. The amount of the advance will include Daily Allowance for the likely period of halts not exceeding 30 days & Road Mileage and fares for the journeys to be performed by the Official / Officer.
2. The advance shall not exceed 80% of the anticipating T.A. as worked out in (i) above.
3. Advance of T.A. may be given only in cases where circumstances are compelling and the amount involved is so much excessive that the official concerned cannot be reasonably supposed to meet it from his resources.

1. The advance is adjustable in full in the T.A, bill which should be submitted as soon as possible after the completing of the tour. In case no bill is submitted within two months of the completion of the tour, the advance may be recovered in full from the pay of the employee.
2. Festival advance may be recovered in installments as decided by the Principal and last installment should be before the salary of March of respective year.

1. Rules in this section do not ordinarily apply to the employees of the College who are not permanent employees as the pay of such employees does not constitute adequate security. These are however, applicable to employees on deputation with the College. Loans shall not ordinarily be granted to temporary employees except in special circumstances and if the circumstances admit of the provision of adequate security. Motor Cycle/ bicycle advance may be granted to the employees of the College who have put in two years/ one year’s service respectively, with the sanction of the Principal.
2. The Last Pay Certificate granted to an employee must specify details of such advance, the amount repaid and the balance along with interest, if any accrued in accordance with the rules. Simple interest at the rate fixed by the competent authority for the purpose, should be charged on the advance granted to an employee for the purchase of motor cars and motor cycles (including scooters & bicycles).
3. Advance would be drawn by the Registrar.
4. The loanee will be required to execute an agreement as prescribed by the Principal before drawing an advance for the purpose of motor car or scooter.
5. Earmarking of funds for grant of advance will be done by the Registrar with the approval of the Principal.

1. Advance may be given only when the Principal is satisfied that it is in the interest of the College that the employee should have a car and he will use it in the discharge of his duties. Advance can only be granted to such employees as are required in the course of their official duties to do so much touring or to make frequent journeys at short intervals or where the saving of the time is of real importance.
2. Advance may not be granted to an employee whose monthly pay is less than Rs.3000/- . The total amount of advance may not exceed Rs.80, 000/- or price of the Motor Car whichever is less.
   Note: The pay includes personal pay, deputation pay and such other emoluments as are classified as pay by the College.
   
   If the actual price paid is less than the advance taken, the balance must be forthwith refunded to the College in lump sum.
3. Advance should be applied before the purchase is made and the application for advance should state that the employee is unable to make the purchase without such assistance.
   Note: Advance should be taken only after the employee has ensured that the vehicle will be made available to him within one month. The excuse of short supply of vehicles in the market should not be made criteria for relaxation of period of one month. Amount should not be drawn till the dealer has issued a certificate that the car will be available within one month.
4. The advance for the purchase of car should be recovered in not more than 100 monthly installments (of whole rupee) plus additional installment for interest, each such installment being not appreciably greater than the installment by which the Principal was recovered. The re-payment will be made in lesser number of installments, if so desired by the employee.
5. Recovery of the amount will start from the first pay drawn after the drawl of the advance .
6. The amount to be recovered monthly will not be affected by the fact that the borrowing employee has proceeded on leave or has been put under suspension.
7. Interest will be calculated at the rate fixed by the State Govt. from time to time.
8. While the amount remains to be paid to the College the vehicle must be insured against fire, theft or accident. It should be comprehensive insurance and not merely insurance conveying third party risk. The amount for which the conveyance is insured during any period should not be less than outstanding balance of the advance with interest accrued at the beginning of that period. The insurance should be renewed from time to time till the amount due is completely repaid. If the vehicle is not insured at any time, the College may get insured at the cost of the employee. The premium so paid will be added to the amount recoverable from the employee along with interest at the prevalent rates. The employee will have to write a letter to the insurance company stating that the College has an interest in the policy .

1. The pay of the employee exceeds Rs.1200/- P.M.
2. The amount of the advance does not exceed Rs.15,000/- or the price of the vehicle whichever is less.
3. The recover will be affected in 65 equal monthly installments in addition to the installment for the interest accrued on the Principal amount.

1. Advance may be allowed only when the post held entails duties involving tour. In case of the purchase of bicycle advance may, however, be granted even though the post held does not entail touring, if in the opinion of the sanctioning authority the possession of a bicycle will add to the efficiency of the employee concerned.
2. The total amount to be advanced to an employee should not exceed Rs.800/- or the price of the bicycle whichever is less. If the actual price paid is less than the advance taken the balance should forthwith be refunded to the College.

1. (i) That the conveyance purchased with the advance is his absolute property and that he has not pledged and so long as any money (with interest) remains payable to the Principal in respect of the advance, he will not sell, pledge or part with the conveyance.
2. If the installments of the Principal or the interest are not paid monthly by the 10th of each month or the employee dies, quits the service, becomes insolvent, or any person takes proceedings against him in execution of decree or judgment the balance of the advance together with interest will become payable to the Principal forth with and if it is not paid, the College will have right to seize the conveyance and either remain in possession thereof or sell it or realize from the sale proceeds the amount due to the College together with any cost incurred in this process. If any surplus is left it will be paid to the employee or his heirs. If the sale proceeds of the conveyance are not sufficient to cover the balance of the advance the remaining dues together with interest and cost, the College has the right to sue the employee in a court of law for the recovery of the balance.
3. The employee should ensure and keep insured the conveyance against loss or damage by fire, theft or accident. The amount of the insurance should not at any time by less than the amount of the balance plus interest due to the College.
4. The employee should take proper care of the vehicle so that it does not deteriorate to a degree beyond reasonable wear and bear and
5. If any accident happens, the vehicle should be repaired immediately. A schedule giving particulars of the conveyance should be included in the Security Bond or Mortgage Deed. The bond or the deed should then be signed both by the employee and the Registrar on behalf of the Principal and witnesses.