Amendment to GPF Advance/ Withdrawal Latest Rules

GOVERNMENT OF INDIA
MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS

LOK SABHA
UNSTARRED QUESTION NO: 3979
ANSWERED ON: 17.07.2019

Amendment to GPF Advance/ Withdrawal Rules

Rajkumar Chahar
Will the Minister of

PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS be pleased to state:-

(a) whether the Government has recognized the need of Central Government employees, who are subscribers of GPF, to own two houses, one in their home town and the other at their place of work;
(b) if so, the details thereof and the number of times GPF subscribers are entitled to withdraw money from his GPF on account of residential purposes;
(c) whether the Government plans to amend the GPF Advance/Withdrawal Rules applicable to the Central Government Employees allowing them upto two withdrawals from their GPF Accounts for residential purpose; and
(d) if so, the details thereof and if not, the reasons therefor?

ANSWER
MINISTER OF STATE IN THE MINISTRY OF PERSONNEL, PUBLIC GRIEVANCES AND PENSIONS AND MINISTER OF STATE IN THE PRIME MINISTER’S OFFICE
(DR. JITENDRA SINGH)

(a) to (d): In accordance with General Provident Fund (Central Services) Rules 1960, withdrawal by a Government Employee up to 90% of the amount standing at credit in the General Provident Fund is permissible for building or acquiring a suitable house or a ready built flat for his/her residence.

As per the existing rules and instructions, if a Government servant has already availed withdrawal from GPF for building or acquiring a house or flat, GPF withdrawal for second house is not permissible.

There is, at present, no proposal to amend the GPF Rules to allow a second withdrawal for acquiring another house.

Source:LOKSABHA

Related Posts

Post a Comment

Subscribe Our Newsletter