Revised Guidelines Issued for Maintaining General Provident Fund Accounts; List of Upcoming Retirees Required

The Finance Department Secretary has released updated guidelines concerning the proper management and upkeep of General Provident Fund (GPF) accounts. These guidelines clarify the benefits available to employees through their GPF accounts and provide instructions for handling related files. The directives also address the process for recovering funds from employees when necessary. The guidelines mandate a minimum deduction of 12% of emoluments, as per the General Provident Fund Rules, 1955. However, employees may opt to deposit a higher amount. Emoluments include salary, leave salary, or subsistence grant, excluding dearness allowance. GPF funds can be utilized for employee and family related needs, including marriages, medical expenses, and higher education, as well as for purchasing property. Separate accounting is required for GPF and Departmental Provident Fund (DPF) accounts. Each year, employees will receive a ledger slip reflecting interest calculations, and a consolidated list must be sent to the department head by April 30th. The head of department must then forward the consolidated list to the Accountant General by May 31st. Employees are required to nominate a beneficiary upon joining government service. Changes to this nomination must be updated with the Accountant General. Salary deductions for GPF will cease four months before retirement. If multiple GPF account numbers have been assigned in error, the first number will be considered valid. In cases of re-employment after retirement, the existing GPF account is closed after final payment, and a new account is opened. The passbook should be updated one year before retirement. The employee must ensure all entries in the passbook are complete and verified before retirement. Contribution deductions will cease four months prior to retirement. Employees are encouraged to deposit any missing credits into their GPF accounts. Employees previously in the Departmental Provident Fund must transfer their funds to the GPF. The Accountant General’s office must be notified within one month of voluntary retirement, separation, resignation, or death. For deceased employees, a death certificate and valid nomination are required for final withdrawals. Interest on GPF will be paid up to the month before payment or six months after the payment becomes due, whichever is earlier. In specific instances, the administrative department can authorize interest payments beyond this period with a valid explanation. Department and office heads must submit a list to the Accountant General by July 1st each year, detailing employees retiring within the following 12 months. This list should include names, account numbers, and retirement dates.