Pension, PF & GIS
Pension, PF & GIS

GPF (WBS) RULES (Synoptic note)

This is a synoptic note about the GPF (General Provident Fund) (West Bengal Services) Rules. These rules apply to all full-time West Bengal Government employees. The first entry in the fund is after one year of continuous service. Employees need to obtain a GPF Account Number from A.G., West Bengal before completing one year for Gr. A, Gr. B, and Gr. C employees, while appointing authorities or D.D.O. maintain the accounts for Gr. D employees. The subscription should be between 6% of total emoluments and total emoluments. The subscription may be increased or reduced each February. Subscription should be stopped three months before retirement. beside that, it offers I.T exempts subscriptions up to Rs. 1.5 lakh for every year. The interest rate on deposit changes every year. Advance of up to 50% or 75% may be taken to fund education, marriage, illness, and land/building purchases/construction. Part-final withdrawals of 50%, 75%, or 90% can be made after 15 years of service or within 10 years of retirement. To withdraw, employees must fill out Form 10A and Form 10B and provide a DDO Certificate for the previous 12 months. Refundable advances can also be turned into non-refundable advances if specific conditions are met.

This is a synoptic note about the GPF (General Provident Fund) (West Bengal Services) Rules. These rules apply to all full-time West Bengal Government employees. The first entry in the fund is after one year of continuous service. Employees need to obtain a GPF Account Number from A.G., West Bengal before completing one year for Gr. A, Gr. B, and Gr. C employees, while appointing authorities or D.D.O. maintain the accounts for Gr. D employees. The subscription should be between 6% of total emoluments and total emoluments. The subscription may be increased or reduced each February. Subscription should be stopped three months before retirement. beside that, it offers I.T exempts subscriptions up to Rs. 1.5 lakh for every year. The interest rate on deposit changes every year. Advance of up to 50% or 75% may be taken to fund education, marriage, illness, and land/building purchases/construction. Part-final withdrawals of 50%, 75%, or 90% can be made after 15 years of service or within 10 years of retirement. To withdraw, employees must fill out Form 10A and Form 10B and provide a DDO Certificate for the previous 12 months. Refundable advances can also be turned into non-refundable advances if specific conditions are met.

 

 

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GPF (WBS) RULES (Synoptic note)

GPF (General Provident Fund):-

  • The GPF (General Provident Fund) (West Bengal Services) Rules were published with Finance Department Notification No. 4570-F, dt. 9.10.1963.
  • The GPF (General Provident Fund) (WBS) Rules are applicable to all whole-time West Bengal Government employees.
  • The first entry in GPF is after completion of one-year continuous service. Therefore, Every Employer should obtain GPF (General Provident Fund) Account Number from A.G., West Bengal in respect of Gr. A, Gr. B and Gr. C employees well in advance before completion of one year. Similarly, for Gr. D employees, the appointing authority or D.D.O. shall maintain their GPF A/Cs. Beside that process of opening of new GPF (General Provident Fund) Account, compulsory submission of nomination under rule 8(3) as per first schedule is also required.
  • The amount of subscription should not be less than 6% of emoluments and not more than total emoluments (Emoluments mean Pay u/r 5(28) of WBSR Pt. l.) under rule 11(1) (b) of the GPF Rules.
  • Subscription may be enhanced or reduced once in a financial year, more particularly in February.
  • Likewise, Subscription needs be stopped 3 months before retirement on superannuation.
  • Subscription up to a maximum of Rs.1.5 lakh is exempt from I.T.
  • Rate of interest on deposit varies from year to year depending on declaration of Government in this matter.
  • In the case of Gr. ‘D’ promoted to Gr. C, a new GPF Account Number need be obtained from A.G., W.B. and then GPF balance of Gr. ‘D’ be transferred to new GPF Account Number as Group I C’ along with advance drawn in detail for recovery.

Advances from GPF (General Provident Fund):

  • Advance may be allowed once every six months for the purpose of Education, marriage, illness, purchase / construction of land / building for residential purpose.

Advances Amount admissible from GPF (General Provident Fund):

Normal Advances:

  • 50% of the amount at Credit recoverable in 24 EMI.

Special Advances:

  • 75% at Credit recoverable in 36 EMI

Consolidation of advances:

  • Consolidation of advances in case of sanction before completion of recovery of EMI of earlier advance.

Note:- Refundable advance may be commuted into Non-refundable advance on satisfying conditions laid down in rules 15A & 15B.

Part-final withdrawal GPF (General Provident Fund)

  • On completion of 15 years service or within 10 years of Service from the date of retirement, part final withdrawal (50%, 75%, 90%) from the amount standing at the Credit may be allowed.

Final withdrawal or Final payment of balance in the GPF (General Provident Fund) Account:

  • Form 10A for Gr. A Gr.  B & Gr.  C employees, Form 10B for nominees / claimants’ need be filled up and submitted to the sanctioning authority. Certificate of Part-Final withdrawal / non-refundable advance during the period of last 12 months need to be given by DDO.

 

 

 

 

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