General Provident Fund Interest Calculator for Central Government Employees

We provide here a simple too to check your GPF Interest and Final Balance amount

General Provident Fund Scheme (GPF) interest rates are being announced by the Central Government for quarterly basis form April 2016. Interest rates are applicable for three months from April to June, July to September, October to December and January to March. Our tool is designed to edit the interest rates also (Default interest rates for 2016-17 are shown in the calculator).

Enter your Closing Balance of the previous year, Subscription, Refund and Withdrawal amount and the calculator immediately show the summary of the calculation below the calculation sheet…

Click to Calculate

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General Provident Fund – Guidelines for submission of Final Withdrawal / Temp. Advance / Final Settlement Bills and Dr./Cr. Schedules

No.F/1/50/Circular-1

Dated: 17.5.2018

To
All Controller of Finance & Accounts (Fys)
and Branch Accounts Offices

Sub: Guidelines for submission of Final Withdrawal / Temp. Advance / Final Settlement Bills and Dr./Cr. Schedules.

Ref: PCA (Fys) Circular No.F/l/20 dated 07.4.2016.

Of late, it has been observed that the directions enumerated in the Circular cited under reference are not being scrupulously followed by many Branch Accounts Offices. Hence, it is reiterated to ensure that subscription recovered and amount paid as withdrawals / temporary advances have been verified / vetted positively, duly indicating the DV Nos. and month of compilation, as this is a mandatory audit requirement for passing of any such claim for payment.

2. During the course of audit of GPF credit schedules received in this office, it has been noticed that many Branch Accounts offices are still having practices to forward only GPF changed statement in respect of subscribers of concerned factory / formation, to Main Office every month. In this context, it is pertinent to mention that complete GPF credit schedules for the RPB month of March every year is required for correct reconciliation and adjustment of data at this end. Hence, it is requested to forward complete GPF Credit Schedules for the RPB month of March only and Changed Statement for all the remaining months, for correct reconciliation and adjustment thereof.

3. If there is no Debit Schedule in any month, a certificate in this regard stating interalia – “It is certified that no GPF withdrawal / Temporary advance has been paid during the month of which must be rendered to this office by the 10th of the following month.

4. GPF Dr. / Cr. Schedules are required to be reconciled with COO-2 and PM. of the respective month positively before forwarding to this office for necessary action at this end. Dr. / Cr. Schedules should invariably be forwarded to this office by the 10th of the following month.

5. Final Settlement Bills must be forwarded to this office at least one month before the date of superannuation.

6. GPF Assets must be transferred at the earliest possible, along with all required documents.

7. Increase and decrease of GPF subscription should be allowed strictly as per GPF Rule 8(4).

The contents of the circular may please be brought to the notice of all the concerned officers and task holder under your jurisdiction.

PCA (Fys.) has approved.

sd/-
Addl. Controller of Accounts (Fys.)

View order

Authority: http://pcafys.nic.in/

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Resolution – accumulations at the credit of subscribers to the GPF and other similar funds w.e.f. 1st April, 2018 to 30th June 2018

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(1)-B(PD)/2018
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 11th April, 2018

RESOLUTION

It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six per cent) w.e.f. 1st April, 2018 to 30th June, 2018.

This rate will be in force w.e.f.1st April, 2018. The funds concerned are:—

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

(Anjana Vashishtha)
Deputy Secretary (Budget)

To view the official Resolution issued for announcing GPF Interest Rate from April to June 2018 , click the following link

View order

Authority: https://dea.gov.in/

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(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(1)-B(PD)/2017
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 18th April, 2017

RESOLUTION

It is announced for general information that during the year 2017-2018, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.9% (Seven point nine per cent) w.e.f. 1st April, 2017 to 30th June, 2017. This rate will be in force w.e.f. 1st April, 2017. The funds concerned are:—

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

(Navin Agarwal)
Director

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GPF Rules

With effect from 7th March 2017, Government has simplified and liberalised the conditions for taking advance from the fund by the subscribers for education, illness, purchase of consumer durables. Conditions and procedures for withdrawal from the fund for the purpose of education, illness, housing, purchase of motor vehicles etc. have also been liberalised. No documentary proof is required to be submitted now for advance and withdrawal applications. A simple declaration by the subscriber is sufficient. A time limit for sanction and payment of advance/withdrawal has also been fixed.

There is no proposal under consideration of Government to increase/link the rate of interest on GPF at parity with that of EPF. The interest rates on EPF are decided on the recommendations of the Central Board of Trustee (EPF) taking into account the yearly income from the investment made by EPFO. The GPF interest rate is presently fixed at par with that of PPF interest rate.

This was stated by the 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 in a written reply to question by Dr. Sunil Baliram Gaikwad, Kunwar Haribansh Singh, Shri T. Radhakrishnan, Shri Gajanan Kirtikar and Shri Bidyut Baran Mahato in the Lok Sabha today.

Source: PIB News

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