What is the rule of GPF?

The amount that a subscriber contributes shall not be less than 6% of his/her total income. A subscriber cannot contribute any amount that exceeds his/her total income. Individuals shall make a deposit every month. But, it does not apply when such subscriber is suspended.

How many times GPF can be withdrawn in a year?

How many times in a year GPF Advance can be taken? Is there any limit in the same during whole of our service? One can take GPF Advance any number of times in our career. However, At least 4 months time gap will between two advances and 6 months time gap for withdrawals have to be maintained.

How much can I withdraw from my GPF account?

The maximum limit of advances from the GPF is three months’ salary of half the amount in the GPF account, whichever is less. Advances from the fund will be allowed on the following grounds: Treatment for illness and travel expenses of the government servant’s family during the illness. Higher education outside in India.

Who is eligible for GPF?

Anyone who fulfills the below-mentioned criteria can contribute to the GPF Account: A government employee who is a resident of India. General Provident Fund is compulsory for government employees belonging to a certain salary class. Any employee of a private sector company is not eligible for the General Provident Fund.

What is Rule 15 of GPF withdrawal?

(1) Any sum withdrawn by a subscriber at any one time for one or more of the purposes specified in Rule 15 from the amount standing to his credit in the Fund shall not ordinarily exceed one-half of such amount or six months’ pay, whichever is less.

Can GPF continue after retirement?

(b) It is clarified that if a retiree intends to retain his GPF accumulation with the Government after a permissible period of 6 months as prescribed in the GPF rules, he has to give his written request for the same well before the expiry of the permissible period of 6 months 2.

What is the process of GPF withdrawal?

Process of GPF Amount Withdrawals

  1. Purchase of consumer durables.
  2. Obligatory expenses.
  3. Education.
  4. Illness.
  5. Purchase of house site.
  6. Housing.
  7. Construction / reconstructing.
  8. Repayment of outstanding mortgage.

Is GPF withdrawal taxable?

Interest earned on the provident fund corpus is tax-free and no tax is levied at the time of withdrawal, making it an attractive investment option. Government employees contribute to the general provident fund (GPF) without any employer contribution.

What are the rules of Haryana government Provident Fund 2016?

HARYANA CIVIL SERVICES (GENERAL PROVIDENT FUND) RULES, 2016 (a) reduce the subscription only once at any time during the financial year; (b) enhance the subscription twice during the financial year upto the prescribed limit; 25. Non-subscription to GPF.

What is the procedure for final payment of GPF in Haryana?

(2) The Head of Officeafter obtaining the application for final paymentshall forward the same to the Principal Accountant General (A&E), Haryana within fifteen days indicating the recovery of advancedue and also the withdrawal, if any, taken by the subscriberafter the issue of the last statement of his GPF account.

When does the Treasury Officer of Haryana allow the payment?

(5) The Treasury Officer shall allow the payment only after receipt of authorization issued by the Principal Accountant General (A&E), Haryana meant for treasury office. 38 HARYANA CIVIL SERVICES (GENERAL PROVIDENT FUND) RULES, 2016

How to cancel nomination in Haryana Civil Services (General Provident Fund)?

12 HARYANA CIVIL SERVICES (GENERAL PROVIDENT FUND) RULES, 2016 rule 17, the subscribershall send to the Principal Accountant General (A&E), Haryana through his Head of Office, a notice in writing canceling the nomination together with a fresh nomination made in accordance with the provision of this rule.