Table of Contents
Content Summary:
The memorandum issued by the Department of Pension & Pensioners Welfare outlines significant enhancements in the provisions for withdrawing and advancing funds from the General Provident Fund (GPF) for government employees. The key highlights include:
Expanded GPF Withdrawal Purposes:
- Education expenses, including primary, secondary, and higher education.
- Obligatory expenses like betrothal, marriage, funerals, and ceremonies.
- Illness of the subscriber, family members, or dependents.
- Purchase of consumer durables.
- Housing-related purposes, including acquisition, construction, or renovation.
- Purchase of motor vehicles and repayment of vehicle loans.
Increased GPF Withdrawal Limits:
- Withdrawal of up to twelve months’ pay or three-fourths of the GPF amount, whichever is less.
- For illness, withdrawal of up to 90% of the GPF amount.
- Housing-related withdrawals of up to ninety percent of the GPF amount.
Simplified Procedures:
- No documentary proof required for withdrawals; a simple declaration suffices.
- The declared Head of Department can sanction withdrawals.
- A prescribed maximum time limit of fifteen days for withdrawal sanction and payment.
GPF Advance Options:
- Advances permitted for various purposes, including illness, education, obligatory expenses, legal proceedings, defense costs, consumer durables, and pilgrimage.
- Advance limits increased to twelve months of pay or three-fourths of the GPF amount.
- Maximum time limit of fifteen days for advance sanction and payment.
Download pdf
