A complete reference blog for Indian Government Employees

Showing posts with label General Provident Fund. Show all posts
Showing posts with label General Provident Fund. Show all posts

Wednesday, 23 October 2019

General Provident Fund interest rate of 7.9% (Seven point nine percent) w.e.f. 1st October, 2019 to 31st December

General Provident Fund interest rate of 7.9% (Seven point nine percent) w.e.f. 1st October, 2019 to 31st December

GPF Interest Rate 2019

GPF-General-Provident-Fund-Interest-Rate-2019

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(2)-B(PD)/ 2019
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, the 21st October, 2019
RESOLUTION

It is announced for general information that during the year 2019-2020, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.9% (Seven point nine percent) w.e.f. 1st October, 2019 to 31st December. This rate will be in force w.e.f.1st October, 2019. The funds concerned are:

Also check: General Provident Fund interest at the rate of 8% from 1st April 2019 to 30th June 2019 - DEA Resolution
  1. The General Provident Fund (Central Services).
  2. The Contributory Provident Fund (India).
  3. The All India Services Provident Fund.
  4. The State Railway Provident Fund.
  5. The General Provident Fund (Defence Services).
  6. The Indian Ordnance Department Provident Fund.
  7. The Indian Ordnance Factories Workmen’s Provident Fund.
  8. The Indian Naval Dockyard Workmen’s Provident Fund.
  9. The Defence Services Officers Provident Fund.
  10. The Armed Forces Personnel Provident Fund.
Ordered that the Resolution be published in Gazette of India
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Friday, 19 July 2019

GPF interest rate is 7.9 % from July 2019


GPF interest rate is 7.9 % from July 2019

General Provident Fund and other similar funds shall carry (Seven point nine percent) w.e.f. 1st July, 2019 to 30th September, 2019

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F. NO. 5(2)-B(PD)/2019
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, the 12th July, 2019
RESOLUTION

It is announced for general information that during the year 2019-2020, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.9% (Seven point nine percent) w.e.f. 1st July, 2019 to 30th September, 2019. This rate will be in force w.e.f. 1st July, 2019. The funds concerned are
  1. The General Provident Fund (Central Services).
  2. The Contributory Provident Fund (India).
  3. The All India Services Provident Fund.
  4. The State Railway Provident Fund.
  5. The General Provident Fund (Defence Services).
  6. The Indian Ordnance Department Provident Fund.
  7. The Indian Ordnance Factories Workmen’s Provident Fund.
  8. The Indian Naval Dockyard Workmen’s Provident Fund.
  9. The Defence Services Officers Provident Fund.
  10. The Armed Forces Personnel Provident Fund.
2. Ordered that the Resolution be published in Gazette of India.
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Wednesday, 17 April 2019

General Provident Fund interest at the rate of 8% from 1st April 2019 to 30th June 2019


General Provident Fund interest at the rate of 8% from 1st April 2019 to 30th June 2019 - DEA Resolution

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(2)-B(PD)/2019
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 3rd April, 2019
RESOLUTION

It is announced for general information that during the year 2019-2020, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent) w.e.f. 1st April, 2019 to 30th June, 2019. This rate will be in force w.e.f. 1st April, 2019. The funds concerned are:

The General Provident Fund (Central Services). The Contributory Provident Fund (India). The All India Services Provident Fund. The State Railway Provident Fund. The General Provident Fund (Defence Services). The Indian Ordnance Department Provident Fund. The Indian Ordnance Factories Workmen’s Provident Fund. The Indian Naval Dockyard Workmen’s Provident Fund. The Defence Services Officers Provident Fund. The Armed Forces Personnel Provident Fund.

Ordered that the Resolution be published in Gazette of India.
sd/-
(Akhilesh Kumar Mishra)
Director (Budget)
To,
The Manager, (Technical Branch)
Government of India Press, Mayapuri, Delhi.
F.No.5(2)-B(PD)/2019

Copy forwarded to all Ministries/Departments of Government of India, President’s Secretariat, Vice-President’s Secretariat, Prime Minister’s Office, Lok Sabha Secretariat, Rajya Sabha Secretariat, Cabinet Secretariat, Union Public Service Commission, Supreme Court, Election Commission and NITI Aayog.

Source: dea.gov.in
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Monday, 15 April 2019

General Provident Fund (GPF) to be introduced to willing National Pension System (NPS) employees- AIDEF Circular


General Provident Fund (GPF) to be introduced to willing National Pension System (NPS) employees- AIDEF Circular

ALL INDIA DEFENCE EMPLOYEES’ FEDERATION

Special Circular No.72
Date : 13.04.2019
As already informed to you the meeting of the National Council (JCM) was held on 13/04/2019 under the Chairmanship of the Cabinet Secretary. AIDEF was represented by Comrades C. Srikumar, K.Balakrishnan and R.S.Reddy. After the introductory remark by the Cabinet Secretary the Staff Side raised the following issues:
  1. The 47th Meeting of the National Council (ICM) is being Called by the Chairman after a period of 9 years. The last i. e. the 46th meeting of the National Council (JCM) was held on 15 May 2010. Under the JCM Scheme the Ordinary meetings of the National Council shall be held as often as necessary, and not less than once in four months. Special meetings can also be called by the Chairman or on a request from the Staff Side. Unfortunately between 1999 and as on date only 7 meetings are held, which means within a period of 20 years only 7 times the National Council has met. This is a clear proof of violation and dilution of the JCM Scheme. Since the National Council of JCM is not functioning, the Departmental Council JCM’s under the Chairmanship of the Secretaries of the Concerned Departments are also not taking place. Therefore I request the Chairman to take a serious note of the situation and a decision may be taken to hold regular meetings of the National Council, its Standing Committee and also the Departmental Council JCM meetings and the decision may be communicated to all Departments.
  2. When the JCM Scheme came in to effect from 1966 all the Non- Gazetted employees were allowed to participate in the JCM Scheme. However due to upgradation of various Group C Posts to Group B these categories are now exempted from the JCM Scheme. The Staff Side is demanding for review of the same and to permit all Non Gazetted employees irrespective of their pay should be allowed to participate in the JCM Scheme.
  3. In the past due to repeated discussions in the National Council JCM, the Cabinet Secretary has written a D.O. Letter to all the Secretaries that before implementing any decisions to privatize, Outsource and closures, downsizing, corporatization, rationalization etc the staff side of the Departmental Council JCM should be consulted and their views may be kept in mind while framing such policy decision. However arbitrary decisions are taken especially by Ministry of Railway’s, Defence, Printing and Stationery, Postal and other departments for privatizing the work being done by permanent employees, closure of many units etc. This has resulted in total Labour unrest and series of agitations are being held including strike action. It is therefore requested that all these activities against the interest of employees may be stopped immediately and the entire issue may be discussed in the Departmental Council JCM meetings with the Staff Side.
  4. After the submission of the 7th CPC recommendations, the Central Government Employees were very much disappointed and there was an all around dissatisfaction since the 7th CPC has not taken into account the proposals of the Staff Side in determining the minimum pay and corresponding fitment factor. The 7th CPC has also rejected our demand to scrap the NPS implemented for employees recruited on or after 1/1/2004. In this backdrop the National Joint Council of Action of the Central Government employees have issued an Indefinite Strike Notice on the Government. A meeting was convened under the Chairman ship of Hon’ble Home Minister Sh. Rajnath Singh in which other three Senior Ministers including the Finance Minister and Railway Minister were also present. The meeting was held on 30th of June 2016 and based on the assurance given by the senior Ministers that the demands of the Central Government employees would be considered by a high Level committee, the strike was deferred. It is unfortunate that the commitment given to the NJCA was never honored and the discontentment amongst the Central Government employees still prevails. It is therefore urged upon the Government that the commitment of the Group of Ministers may be honoured in letter and spirit and Government may come forward to restore the negotiations with the NJCA for reaching an agreement on the following demands. - a. Enhancement of Minimum Pay and Fitment Factor w.e.f. 1.1.2006 - b. Scraping of NPS and restoration of guaranteed Pension under CCS (Pension) Rules 1972. - c. Option No. 1 recommended by 7th CPC for employees who retired prior to 01/01/2016.
  5. The Staff Side are repeatedly representing to grant one more option to switch over to 7th CPC pay scale from a date subsequent to 25/07/2016. Even though there is no much financial implication, the Department of Expenditure is not extending the benefit. This issue needs to be considered favourably.
  6. Inspite of the Government orders for grant of entry pay to the employees promoted on or after 1/1/2006 prescribed for direct recruits in the pay band is not yet implemented in many of the Departments for want of certain clarifications from Department of Expenditure. The issue was discussed in the last Standing Committee meeting and it was assured that necessary clarifications would be issued. However the same has not yet been issued.
  7. Due to non functioning of JCM and non acceptance of genuine demands of the Central Governments employees there is a multiplicity of litigation on service matters including MACP issues like date of implementation of MACP from 1/1/2006, MACP in promotional hierarchy, Annual Increment to employees retired on 30th June and 31st December etc. In majority of the cases the judgements have gone in favour of the employees and as usual the Government drag the employees up to Supreme Court and even after Establishing the Law on service matters by the Supreme Court the benefits are restricted only to the petitioners. A separate meeting with Staff Side may be held so that the demand for implementation of various Court judgements on service matters can be settled and the number of litigations can be reduced.
  8. The Defence Industry like Ordnance Factories, DRDO, Units under Army and Navy etc. are under serious attack. The entire policy decision needs to be reconsidered and all these Defence Establishments should be strengthened and developed.
  9. One time relaxation of LTC-80 cases, where employees have purchased Air Tickets from other than authorized Agents is pending for quite some time. The same may be considered favourably.
  10. Compassionate Appointment to the wards of employees who dies/medically invalidated on accidents while performing Government duty should be given over and above the 5% quota.
  11. Outsourcing of permanent Jobs which are being performed by erstwhile Group “D” Employees should be stopped and all the vacancies should be filled up

Decision on Agenda Points/ Points Raised in the meeting

  • Judgement of Supreme Court on service matters where policies are involved will be made applicable to all the similarly placed Employees.
  • GPF to be introduced to willing NPS employees.
  • Government seriously and positively considering the demand of allotment of salary budget separately to Ordnance Factories.
  • Stepping up of pay will be permitted in MACP.
  • Services of Temporary Status Employees of GSF Cossipore will be regularized.
  • Government Orders on Risk Allowance and Night Duty Allowance will be issued soon.
  • Relaxation of Educational Qualification for Compassionate Appointment to wife of employees medically boarded out from service would be considered.
  • Regarding residency period for promotion from one post to another, the Staff Side should forward a detailed proposal.
  • Grant of 90% Medical Advance for conventional diseases would be considered by Ministry of Health.
  • Proposal for relaxation of LTC-80 is under consideration.
  • Revision of pension to employees those who were compulsorily retired would be considered.
  • The provision of “Wherever feasible” given in the Government order for grant of HRA without NAC would be considered.
  • 13.Regarding implementation of Arbitration Awards separate meeting would be held with staff side.
  • The decision on applicability of CCS (RSA) Rules 1993 to the workers of the Defence Ministry would be taken within a month. 15. The Demand for creation of NFSG grade in cadre of UDC / Stenographers in all offices outside Secretariat is under consideration of the Government.
  • Reimbursement of Medical expenditure involved for over stay in the Hospital, because of infection / side effects would be considered by the Ministry of Health.
With Greetings,
(C.SRIKUMAR)
General Secretary
Source : AIDEF Circular
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Sunday, 27 January 2019

GPF Interest 8% from 1.1.2019 to 31.3.2019

GPF Interest 8% from 1.1.2019 to 31.3.2019
GPF and similar funds Interest Rate - 8% (Eight percent) w.e.f. 1st January, 2019 to 31st March, 2019

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(1)-B(PD)/2018
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, the 03 January, 2019
RESOLUTION

It is announced for general information that during the year 2018 -2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent) w.e.f. 1st January, 2019 to 31st March, 2019.

This rate will be in force w.e.f.1st January, 2019. The funds concerned are:
  1. The General Provident Fund (Central Services).
  2. The Contributory Provident Fund (India).
  3. The All India Services Provident Fund.
  4. The State Railway Provident Fund.
  5. The General Provident Fund (Defence Services).
  6. The Indian Ordnance Department Provident Fund.
  7. The Indian Ordnance Factories Workmen's Provident Fund.
  8. The Indian Naval Dockyard Workmen's Provident Fund.
  9. The Defence Services Officers Provident Fund.
  10. The Armed Forces Personnel Provident Fund.
2. Ordered that the Resolution be published in Gazette of India.
sd/-
(Akhilesh Kumar Mishra)
Director (Budget)
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Wednesday, 17 October 2018

Government Hikes GPF Interest Rate To 8% For October-December quarter

Government Hikes GPF Interest Rate To 8% For October-December quarter.

The government has increased the rate of interest for General Provident Fund (GPF) and other related schemes by 0.4 percentage points to 8 per cent for the October-December quarter.
The rate is in line with that for Public Provident Fund.

The interest rate on GPF was 7.6 per cent for the July-September quarter of 2018-19.

"… during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8 per cent with effect from October 1, 2018, to December 31, 2018," a Department of Economic Affairs' notification said.

The interest rate would apply on Provident Funds of central government employees, railways and defence forces.

Last month, the government announced that the interest on small savings, including NSC and PPF, will be hiked by up to 0.4 percentage point for the October-December quarter, to align it with rising deposit rates in the banks.

PTI
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Thursday, 4 October 2018

Speedy Clearance of GPF Final Settlement: DAD Estt


Speedy Clearance of GPF Final Settlement: DAD Estt

Government of India
Ministry of Defence
Office of the Principal Controller of Accounts (FYS)
AN-VII Section
10-A, S.K.Bose Road, Kolkata-700001
No.525/AN/VII/Circular/2017
Dated: 26.09.2018
Sub:Speedy Clearance of GPF Final Settlement: DAD Estt.

It has been noticed that Br.Account Officers are forwarding GPF final settlement claim to CDA(Fund), Meerut for payment at belated stage which may cause delay in payment of GPF accumulation to retirees. In this connection, reference is invited to this officer important circular dated 5.11.2012 (Copy enclosed) which is self explanatory. A check list circulated by CDA(Fund). Meerut vide their circular no.AN/Funds/Coord/Circular dated 25.8.2015 is also enclosed herewith for strict compliance.

Enclo: As above.
Sd/-
(Praveen Ranjan)
Dy.Controller of Account(AN)
Source: http://pcafys.nic.in
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Wednesday, 3 January 2018

GPF Interest Rate from Jan 2018 to Mar 2018 - Department of Economic Affairs (DEA) Orders

GPF Interest Rate from Jan 2018 to Mar 2018 - Department of Economic Affairs (DEA) Orders

General Provident Fund (GPF) Interest Rate from January 2018 to March 2018

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds - 2017, w.e.f. 1st January, 2018 to 31st March, 2018
(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.NO. 5(1)-B(PD)/2017
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, the 1st January, 2018
RESOLUTION

It is announced for general information that during the year 2017-2018, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six per cent) w.e.f. 1st January, 2018 to 31st March, 2018. This rate will be in force w.e.f.1st January, 2018 . The funds concerned are:

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen's Provident Fund.
8. The Indian Naval Dockyard Workmen's Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.
2. Ordered that the Resolution be published in Gazette of India.
sd/-
(Anjana Vashishtha)
Deputy Secretary (Budget)
Source: www.dea.gov.in
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Wednesday, 25 October 2017

General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8% w.e.f. 1st October, 2017 to 31st December, 2017

GPF-INTEREST-RATE

General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8% w.e.f. 1st October, 2017 to 31st December, 2017.

The Government of India has announced that during the Financial Year 2017-18, accumulations at the credit of subscribers to the General Provident Fund (GPF) and other similar funds shall carry interest at the rate of 7.8% (Seven point eight per cent) with effect from 1st October, 2017 to 31st December, 2017. This rate will be in force w.e.f. 1st October, 2017.

The Notification to this effect has been issued and published in the Gazette of India on 23rd October, 2017.

PIB
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Thursday, 20 April 2017

Finmin Order: GPF Interest Rate for 1st April to 30th June 2017

General Provident Fund Interest Rate for 1st April to 30th June 2017 - Finmin Orders

Finmin Order: GPF Interest Rate for 1st April to 30th June 2017

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(1)-B(PD)/2017
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, the 18th April, 2017
RESOLUTION

It is announced for general information that during the year 2017-2018, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.9% (Seven point nine per cent) w.e.f. 1st April, 2017 to 30th June, 2017. This rate will be in force w.e.f. 1st April, 2017. The funds concerned are:

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.
2. Ordered that the Resolution be published in Gazette of India.
(Navin Agarwal)
Director
Authority : GPF Resolution 2017
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Monday, 13 March 2017

GPF Withdrawals - Amendment orders issued on 7.3.2017


GPF Withdrawals - Amendment orders issued on 7.3.2017

Amendment to the provisions of General Provident Fund (Central Service )Rules 1960 - liberalization of provisions for withdrawals from the Fund by the subscribers - regarding.

No.3/2/2017-P&PW(F)(ii)
Ministry of Personnel, PG & Pensions
Department of Pension & Pensioners' Welfare
Desk-F
3rd Floor, Lok Nayak Bhavan,
Khan Market, New Delhi-11 0003
Dated the 7th March, 2017.
OFFICE MEMORANDUM

Subject: Amendment to the provisions of General Provident Fund (Central Service) Rules 1960 - liberalization of provisions for withdrawals from the Fund by the subscribers - regarding.

The General Provident Fund (Central Service )Rules came into force in 1960 and Rule 15 of the said rules provide for withdrawals by the subscribers. Some amendments have been made from time to time to address the concerns raised by the subscribers. However, the provisions, largely remain restrictive. There is a felt need to liberalize provisions, raise limits and simplify the procedure.

2. The provisions in the rules have been reviewed and it has now been decided to permit withdrawals from the fund by the subscriber for the following purposes:
(i) Education - This will include primary, secondary and higher education, covering all streams and institutions,
(ii) Obligatory Expenses viz. betrothal, marriage, funerals, or other ceremonies of self or family members and dependants,
(iii) Illness of self, family members or dependants,
(iv) Purchase of consumer durables.
3. It has been decided to permit withdrawal of upto twelve months payor three-fourth of the amount standing at credit, whichever is less. For illness, the withdrawal may be allowed upto 90% of the amount standing at credit of the subscriber. A subscriber may seek withdrawal after completion of ten years of service.
(v) Housing including building or acquiring a suitable-house or a ready-built flat for his-residence,
(vi) Repayment of outstanding housing loan,
(vii) Purchase of house site for building a house,
(viii) Constructing a house on a site acquired,
(ix) Reconstructing or making additions on a house already acquired,
(x) Renovating, additions or alterations of ancestral house.
4. A subscriber may be allowed to withdraw upto ninety percent of the amount standing at credit for the above purposes. It is also decided do away with the present instructions which lay down that subsequent to the sale of house for which GPF withdrawal has been availed, the amount. withdrawn has to be deposited back. GPF withdrawal for housing purpose will no longer be linked with the limits prescribed under HBA rules. A subscriber may be permitted to avail the facility at any time during his service.
(xi) Purchase of motor car/motor cycle/ scooter etc. or repayment of loan already taken for the purpose,
(xii) Extensive repairs /overhauling of motor car,
(xiii)Making deposit to book a motor car/motor cycle/scoter, moped etc.
5. A subscriber may be permitted to withdraw three- fourth of the amount standing at credit or cost of the vehicle, whichever is less for the above purposes. Withdrawal for the above purpose will be permitted after completion of 10 years of service.

6. Presently, withdrawal of upto 90% of balance without assigning reasons is allowed for Government servants who are due for retirement on superannuation within a year. It is proposed that this may be allowed for upto two years before superannuation.

7. In all cases of withdrawal from the fund by the subscriber, the declared Head of Department is competent to sanction withdrawal. No documentary proof will be required to be furnished by the subscriber. A simple declaration form by the subscriber explaining the reasons for withdrawal would be sufficient.

8. As per the GPF(CS) Rule 1960, no time limit has been prescribed for sanction and payment of withdrawal amount. Therefore, it has been decided to prescribe a maximum time limit of fifteen days for sanction and payment of withdrawal from the Fund. In case of emergencies like illness etc., the time limit maybe restricted to seven days.

9. Necessary amendment to the GPF(Central Service)Rules 1960, giving effect to the above provisions will be issued in due course.

10. In so far as persons serving in Indian Audit and Accounts Department are concerned, these orders issue in consultation with the Comptroller and Auditor General of India.

11. This issues with approval of Department of Expenditure, vide their ID No. 4(1 )/EV/2017 dated 28.02.2017.

12. Hindi version of this OM will follow
sd/-
(Sujasha Choudhu)
Director
Click to view the order
Authority: http://www.pensionersportal.gov.in/
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Sunday, 29 January 2017

Officers to face action for delay in GPF payments to retiring employees


Officers to face action for delay in GPF payments to retiring employees

New Delhi: Action will be taken against the officers concerned in cases of delay in processing payment of General Provident Fund (GPF) to retiring employees, the Centre has said.

The move comes after it was noticed that GPF final payment in many cases was not being made to the government servants immediately after retirement leading to payment of interest for the period delayed.

In an order, the Ministry of Personnel said in order to ensure timely final payment of GPF and to avoid unnecessary financial burden on account of interest, it has now been decided that every case, in which payment of interest on General Provident Fund becomes necessary beyond the date of retirement, shall be put up for consideration to the Secretary of the administrative ministry.

"In all such cases the Secretary of the administrative ministry or department will fix responsibility at all levels to take appropriate action against the government servant or servants who are found responsible for the delay in the payment of General Provident Fund," it said in the directive to all central government departments.

Senior Personnel Ministry officials also said there have been a few instances in which there were complaint of delay in giving final amount of GPF to the retiring employees.

Rules clearly provide that when the amount standing at the credit of a subscriber in the General Provident Fund becomes payable, it shall be the duty of the Accounts Officer to make the payment.

The authority for the amount payable is to be issued at least a month before the date of superannuation, but payable on the date of superannuation, the rules say.

The Centre had in 1996 dispensed with the requirement of submitting a written application by the retiring government servant for GPF final payment.

As per the rules, in case the GPF balance is not paid on retirement, interest on the GPF balance is required to be paid for the period beyond the date of retirement also.

PTI
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Friday, 27 January 2017

Clarification regarding timely payment of GPF final


Clarification regarding timely payment of GPF final

No.3/3/2016-P&PW(F)
Ministry of Personnel, PG & Pensions
Department of Pension & Pensioners’ Welfare
Desk-F
3rd Floor, Lok Nayak Bhavan,
Khan Market, New Delhi-110003
Dated 16th January 2017.
OFFICE MEMORANDUM

Subject: Clarification regarding timely payment of GPF final payment to the retiring Government servant - regarding

During review meetings held to evaluate the status of implementation of Bhavishya with Ministries/Departments, it was observed that GPF final payment in many cases is not being paid to the retiring Government servants immediately on retirement from service leading to payment of interest for the delayed period.

2. Rule 34 of General Provident Fund (Central Service) Rules clearly provides that when the amount standing at the credit of a subscriber in the General Provident Fund becomes payable, it shall be the duty of the Accounts Officer to make payment. The authority for the amount payable is to be issued at least a month before the date of superannuation, but payable on the date of superannuation. It may be noted that the requirement of submitting a written application by the retiring Govt. servant for GPF final payment has been dispensed with vide this Department’s Notification No.20(12)/94-P&PW (E) dated 15.11.1996 and notified under S.O NO.3228 dated 23.11.1996.

3. As per Rule 11(4) of GPF Rules, in case the GPF balance is not paid on retirement, interest on the GPF balance is required to be paid for the period beyond the date of retirement also. While interest for the first six months beyond retirement can be allowed by the PAO in the normal course, approval of Head of the accounts office is required for payment of interest beyond six months and that of Controller of Account/Financial Adviser beyond a period of one year.

4. To ensure timely final payment of GPF, and to avoid unnecessary financial burden on account of interest beyond retirement, it has now been decided that every case, in which payment of interest on General Provident Fund becomes necessary in terms of Rules 11(4) of GPF Rules, 1960, shall be put up for consideration to the Secretary of the Administrative Ministry/Department. In all such cases the Secretary of the Administrative Ministry/Department will fix responsibility at all levels to take appropriate action against the Government servant or servants who are found responsible for the delay in the payment of General
Provident Fund.

5. This issues with the concurrence of the Ministry of Finance, Department of Expenditure, vide their 10 NO.187/EV/2016 dated 2th September 2016.

6. Hindi version will follow.
(Seema Gupta)
Director
Authority: http://www.pensionersportal.gov.in/
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Saturday, 21 January 2017

GPF Resolution - accumulations at the credit of subscribers to the GPF and other similar funds 2017, w.e.f. 1st January, 2017

GPF Resolution - accumulations at the credit of subscribers to the GPF and other similar funds 2017, w.e.f. 1st January, 2017

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.NO. 5(1)-B(PD)/2016
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, the 18th January, 2017
RESOLUTION

It is announced for general information that during the year 2016-2017, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.0% (Eight per cent) w.e.f. 1st January, 2017 to 31st March, 2017. This rate will be in force w.e.f. 1st January, 2017.

The funds concerned are:
1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.
2. Ordered that the Resolution be published in Gazette of India.
(Vyasan R.)
Deputy Secretary (Budget)
To,
The Manager, (Technical Branch)
Government of India Press, Faridabad.

Source: GPF Resolution
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Wednesday, 5 October 2016

Government reduces interest rate on GPF to 8 percent


Government reduces interest rate on GPF to 8 percent

New Delhi: In a move which will hurt millions of employees, the government has reduced interest rate on contributions to General Provident Fund (GPF) and other similar funds to 8% from October 1 to December 31 for fiscal 2016-17.

The interest rate on such funds was 8.1% from April, 2016, while it was at 8.7 per cent for the previous fiscal.

It is announced … that during the year 2016-2017, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.0% (Eight per cent) w.e.f. 1st October, 2016 to 31st December, 2016, the Finance Ministry Resolution said today.
The reduction of increased interest rate will be available to subscribers of Contributory Provident Fund (India), All India Services Provident Fund, State Railway Provident Fund and General Provident Fund (Defence Services).

Contributors to Indian Ordnance Department Provident Fund, Indian Ordnance Factories Workmen’s Provident Fund, Indian Naval Dockyard Workmen’s Provident Fund, Defence Services Officers Provident Fund and Armed Forces Personnel Provident Fund will also hurt from the move.

Rate of interest on GPF is generally fixed after taking into consideration the average secondary market yields on government securities of similar maturity.
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Saturday, 4 June 2016

Interest Rate for General Provident Fund – Finmin Orders

Interest Rate for General Provident Fund – Finmin Orders

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds – 2016

(PUBLISHED IN PART I SECTION OF GAZETTE OF INDIA)

F.No.5(1)-B(PD)/2016
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, Dated the 2nd June, 2016
RESOLUTION
It is announced for general information that during the year 2016-2017, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.1% (Eight point one per cent) w.e.f. 1st April, 2016 to 30th June, 2016. This rate will be in force w.e.f. 1st April, 2016. The funds concerned are:-

1. The General Provident Fund (Central Services)
2. The Contributory Provident Fund (India)
3. The All India Services Provident Fund
4. The State Railway Provident Fund
5. The General Provident Fund (Defence Services)
6. The Indian Ordnance Department Provident Fund
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund
9. The Defence Services Officers Provident Fund
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.
sd/-
(H.K. Srivastav)
Director (Budget)
Click to view the order
Authority: www.finmin.nic.in
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Wednesday, 20 April 2016

Government puts on hold new Provident Fund withdrawal norms till July 31

Government puts on hold new Provident Fund withdrawal norms till July 31

The Government puts on hold new Provident Fund withdrawal norms till July 31. New PF withdrawal norms proposes to bar withdrawal of employer’s contribution to the provident fund corpus until the employee attains the age of 58 years.

On the issue of new Provident Fund withdrawal norms, the government today decided to keep the implementation of new norms in abeyance for three more months till July 31st.

The announcement comes in the midst of protest by labour unions in several parts of the country against the new norms.

People have also launched online campaign against the decision, which was to be implemented from February 10 but was later put on hold till April 30.

In February, the ministry had issued a notification restricting 100 per cent withdrawal of provident fund by members after unemployment of more than two months.

Source: DDI News
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Saturday, 5 March 2016

Deduction of Income Tax on withdrawal of Provident Fund 60%

Deduction of Income Tax on withdrawal of Provident Fund 60%

NATIONAL COUNCIL (STAFF SIDE)
Joint Consultative Machinery for Central Government Employees
13-C, Ferozshah Road, New Delhi – 110001
E Mail: nc.jchm.np@gmail.com
No. NC-JCM/2016
Dated:- 1st March, 2016
To
The Hon’ble Finance Minister,
Government of India,
North Block,
New Delhi.

Dear Sir,
Sub: Deduction of Income Tax on withdrawal of P.F. 60%

We are deeply shocked to learn about imposing of tax on withdrawal of P.F.(Provident Fund) which is our hard earn money which used to be utilized in all emergencies for medical, educational, building of house, marriage of daughters etc.

Imposition of tax on that had created all round agitation among govt. employees.

On behalf of National Council/JCM it is very humbly requested that this tax proposal should be withdrawn immediately to stop the mental agony of government employees.

I hope Central Govt. will not give any chance of serious agitation on this issue and will not disturb industrial peace as a whole.
Thanking you ,
Yours faithfully,
sd/-
(Shiv Gopal Mishra)
Source: www.ncjcmstaffside.com
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Friday, 26 February 2016

Casual Labourers with temporary status-clarification regarding contribution to GPF and Pension under the old pension scheme

Casual Labourers with temporary status-clarification regarding contribution to GPF and Pension under the old pension scheme
No.49014/2/2014-Estt (C)
Government of India
Ministry of Personnel, Public Grievances and PG
Department of Personnel and Training
Establishment Division
New Delhi, North Block,
February 26th , 2016
OFFICE MEMORANDUM

Subject: Casual Labourers with temporary status-clarification regarding contribution to GPF and Pension under the old pension scheme

Undersigned is directed to refer to this Department’s OM No. 51016/2/90-Estt (C) dated the 10th September, 1993 vide which a scheme for grant of temporary status to the casual employees was framed. The scheme applied to those casual labourers who were in employment on the date of the issue of the OM and had rendered one year of continued service in Central Government offices, which meant that they must have been engaged for a period of at least 240 days (206 days in the case of offices observing 5 days week). The scheme did not apply to Departments of Telecom & Posts and Ministry of Railways.

2. As per the scheme, after rendering three years’ continuous service after conferment of temporary status, the casual labourers were to be treated at par with temporary Group ‘D’ employees for the purpose of contribution to the General Provident Fund. Further, after their regularisation, 50% of the service rendered under temporary status would be counted for the purpose of retirement benefits.

3. As per para 8 of the scheme, two out of every three vacancies in Group ‘D’ cadres in respective offices where the casual labourers have been working would be filled up as per extant recruitment rules and in accordance with the instructions issued by Department of Personnel and Training from amongst casual workers with temporary status. However, regular Group ‘D’ staff rendered surplus for any reason will have prior claim for absorption against existing/future vacancies. In case of illiterate casual labourers or those who fail to fulfill the minimum qualification prescribed for post, regularisation will be considered only against those posts in respect of which literacy or lack of minimum qualification will not be a requisite qualification. They would be allowed age relaxation equivalent to the period for which they have worked continuously as casual labourer.

4. Vide the O.M. No.49014/1/2004 -Estt (C) dated the 26 thApril, 2004, the above scheme was reviewed in the light of introduction of New Pension Scheme in respect of persons appointed to the Central • Government service on or after 1.1.2004 as under:
(i) As the new pension scheme is based on defined contributions, the length of qualifying service for the purpose of retirement benefits has lost its relevance, no credit of casual service, as specified in para 5 (v), shall be available to the casual labourers on their regularisation against Group ‘D’ posts on or after 1.1.2004.

(ii) As there is no provision of General Provident Fund in the new pension scheme, it will not serve any useful purpose to continue deductions towards GPF from the existing casual employees, in terms of para 5 (vi) of the scheme for grant of temporary status. It is, therefore, requested that no further deduction towards General Provident Fund shall be effected from the casual labourers w. e. f. 1.1.2004 onwards and the amount lying in their General Provident Fund accounts, including deductions made after 1.1.2004, shall be paid to them.
2. The existing guidelines contained in this Department’s OM No. 49014/2/86-Estt.(C) dated 7.6.88 may continue to be followed in the matter of engagement of casual workers in the Central Government Offices.

5. The OM dated 26th April, 2004 has been quashed by various benches of CAT/High Courts who have decided that the scheme could not be modified retrospectively. The SLPs filed in the Hon’ble Supreme Court have been dismissed by the Apex Court in UOI & Ors v Rameshwar Singh, CC 1829/2014, UOI & Ors v Ramsaran & Ors, SLP (C) No. 25360-25362 of 2008, SLP 17358/2008, SLP 25360-62/09, Union of India etc v Ajay Kumar & Ors, SLP No.19673-19678/2009.

6. The position has been reviewed in the light of the Court judgements in consultation with the Department of Expenditure. It has now been decided that the casual labourers who had been granted temporary status under the scheme, and have completed 3 years of continuous service after that, are entitled to contribute to the General Provident Fund.

7. 50% of the service rendered under temporary status would be counted for the purpose of retirement benefits in respect of those casual labourers who have been regularised in terms of para 8 of the OM dated 10.09. 1993.

8. It is emphasised that the benefit of temporary status is available only to those casual labourers who were in employment on the date of the issue of the OM dated 10th September, 1993 and were otherwise eligible for it. No grant of temporary status is permissible after that date. The employees erroneously granted temporary status between 10.09.1993 and the date of Hon’ble Supreme Court judgement in Union Of India And Anr vs Mohan Pal, 2002 (3) SCR 613, delivered on 29 April, 2002, will however be deemed to have been covered under the scheme of 10.09.93.

9. Ministries/Departments are also requested to identify cases where temporary status has been granted wrongly to those not covered under the OM dated 10.09.1993 and fix responsibility for the same.
sd-
(Mukesh Chaturvedi)
Director (E)
Authority: www.persmin.gov.in
Click to view the order
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Monday, 23 November 2015

7th Pay Commission Report: General Provident Fund (GPF) for Central Government employees

7th Pay Commission Report: General Provident Fund (GPF) for Central Government employees

9.4.1 General Provident Fund (GPF) for Central Government employees was started w.e.f. 1 April, 1960. It covers those government employees who joined service before 01.01.2004 and are not governed by the Contributory Provident Fund Scheme. The scheme was introduced to foster the habit of saving amongst government employees and to provide them financial help in times of need. The Commission has not received any demands regarding modifications in this scheme.

Analysis and Recommendations

9.4.2 The Commission has analyzed the views of the previous Pay Commissions regarding GPF. The IV CPC and the V CPC did not favour making the scheme optional on the grounds that the fund provided relief to employees in times of need and that accretions to the fund also improved the government’s ways and means position. The VI CPC had, however, recommended that the “future investments in GPF should be allowed purely on voluntary basis with no minimum being prescribed.” Their rationale was that the resource position of Central Government is comfortable and the revenues are showing a steady growth, employees have the option of a variety of market instruments to choose from for investment purposes, and with the proposed increase in monthly subscription under the CGEGIS (70% of which is for saving purposes), the government employees will, in any case, be making a much higher saving.

9.4.3 The Commission notes that the recommendations of the VI CPC regarding CGEGIS and GPF were not accepted by the government; neither the CGEGIS rates were revised, nor GPF was made voluntary.

9.4.4 This Commission is of the view that, with the introduction of NPS w.e.f. 01.01.2004, the number of subscribers under the GPF scheme will decrease as time goes by. Moreover, the scheme has worked well over the past 65 years and has provided pecuniary relief to the subscribers in times of need. Accordingly the Commission does not find merit in any disturbance at this point of time. Hence, status quo is recommended.
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