March 21, 2017 11:23 AM

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Several relaxations brought in GP Fund rules

In a major relief for government employees, the Centre has announced several relaxations in General Provident Fund, particularly relating to advances and withdrawals by the employee. According Minister for Personnel, Public Grievances and Pensions Dr Jitendra Singh, the existing GPF Fund (Central Service) Rules came into force way back in 1960 and even though certain amendments have been made from time to time to address the concerns raised, it was felt to be the need of the hour to bring in some more changes for the convenience of the Government employees. He said, the liberalization in the provisions was essentially meant to bring in ease of procedures, especially for activities like house building, education of children, thus making the rules more employee-friendly. Dr Singh said, the requirement of documentary proof for withdrawing GPF has been done away with and a simple declaration by the employee would suffice henceforth. <br/><br/>He said, the minimum time limit for sanction and payment of GPF withdrawal will not be more than 15 days and in case of an emergency like illness it could only be 7 days. The limit of withdrawal also has been increased following which, now the withdrawal for housing can be upto 90 percent of the balance at credit and withdrawal for purchase of vehicle can be up to 3/4th of the balance at credit. He said, considering the importance of education, the definition of education for the purpose of withdrawal of GPF has now been widened to include primary, secondary and higher education covering all streams and institutions. He said that GPF advance can now also be applied for travel and tourism related activities.<br/><br/> The Minister said, the Government expects its employees to work with full dedication, sincerity and diligence, however at the same time, it is always seriously considering various means and provisions to provide them with a work-friendly environment and socio-economic stability, so that they may put in their best without any unnecessary distraction.

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