GPF ACCOUNT
Central govt employees: General Provident Fund (GPF), other provident funds' interest rates announced for July-September 2024
Central govt employees' salary: The Ministry of Finance has announced the interest rates of the General Provident Fund (GPF), Contributory Provident Fund (CPF) and other similar provident fund schemes for the July-September quarter of 2024. Will investors get interest on GPF if the contribution exceeds Rs 5 lakh? GPF latest interest rates and all other latest rules explained.
Central govt employees' pension: NPS to OPS switch? Centre releases new FAQ answering all your queries
NPS vs OPS: The Centre allowed central government employees to switch from NPS to CCS (Pension) Rules, 1972 (now 2021), known as the old pension scheme. The Department of Pension and Pensioners’ Welfare released FAQs to address queries on the implementation of the switch. All the central government employees and pensioners must know
Latest General Provident Fund rules: Will interest amount be paid if the GPF contribution exceeds Rs 5 lakh? Govt clarifies
General Provident Fund rules: All government employees can open a GPF account and pay a portion of their salaries to the GPF. When they retire, employees receive the entire money accrued in their GPF account over their service tenure.
General Provident Fund (GPF) withdrawal rules update for govt employees: Check eligibility, how much you can withdraw
GPF withdrawal rules: The Department of Pension & Pensioners Welfare (DoPPW) has recently listed out updated withdrawal rules for the GPF subscribers. Do note that the GPF subscribers do not need to furnish any documentary proof to withdraw money from the GPF. A declaration form by the subscriber explaining the reasons for withdrawal would be sufficient. Know updated GPF withdrawal rules, eligibility, and other important details
General Provident Fund (GPF) interest rate for October-December 2023 quarter announced
The Ministry of Finance has announced the interest rate for the General Provident Fund (GPF) and other similar provident fund initiatives.
One-time option to switch to OPS from NPS available for these central govt employees; know eligibility, last date
NPS vs OPS: Select All India Services (AIS) officers covered by the National Pension System (NPS) will now get a one-time option to switch to the Old Pension Scheme, said DoPT. Know who will be eligible, what is the last date to submit the application and how will NPS corpus be restructured if a government employee switch to OPS from NPS.
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The debate on National Pension System
As per its terms of reference, the committee will suggest whether any changes are warranted given the existing framework and structure of the National Pension System (NPS), also called the new pension scheme, as applicable to government employees.
Central govt employees: General Provident Fund (GPF), CPF interest rates announced for April-June 2023 quarter
The interest rates of GPF, All India Services Provident Fund and other similar funds will be 7.1 per cent for the April-June quarter, 2023, said the Department of Economic Affairs (DEA), Ministry of Finance in a resolution on April 10, 2023. All you need to know.
Central govt employees: General Provident Fund (GPF), CPF interest rates announced for Oct-Dec 2022 quarter
The interest rate on GPF and other similar funds would be 7.1 per cent for the October-December quarter, 2022, said the Department of Economic Affairs (DEA), Ministry of Finance in a resolution. All you need to know.
SC asks Centre to look into allegation of closure of GPF accounts of seven Patna HC judges
The bench asked Additional Solicitor General KM Natraj, appearing for the Centre, to look into the matter and take instructions on the issue. It fixed the plea of the judges for further hearing on March 3. The plea was filed by seven Patna High Court judges -- justices Shailendra Singh, Arun Kumar Jha, Jitendra Kumar, Alok Kumar, Sunil Dutta Mishra, Chandra Prakash Singh and Chandra Shekhar Jha.
Interest rate on PF deposits may be near 8% for FY23
The central board of trustees of EPFO is expected to meet later this month or in early March to decide on the interest rate that will be recommended by its Finance Investment and Audit committee based on the earnings for 2022-23. The retirement fund body had announced the interest rate of 8.1% for 2021-22, which was the lowest in four decades.
Chhattisgarh govt asks PFRDA to return Rs 17,240 crore for old pension scheme rollout
The finance secretary further requested the PFRDA to refund the amount soon according to its present market value citing that it will be used to meet future pension liabilities and will be kept in a separate pension fund under the Public Account of the state government. The finance secretary has also informed that the principal amount contributed by the employees in their NPS accounts will be transferred to the Chhattisgarh GPF accounts of the employees, it said.
What happens if pension, gratuity payment is delayed due to administrative reasons?
If a Pension Payment Order (PPO) authorised pension is delayed due to administrative reasons or lapses, interest on arrears of pension, gratuity, and family pension will be paid at the same rate and in the same manner as interest on General Provident Fund amounts.
General Provident Fund interest rate for Oct-Dec 2021 quarter announced
"It is announced for general information that during the year 2021-22, accumulation at the credit of subscribers of General Provident Fund and other similar funds shall carry interest rate of 7.1% (seven point one percent) w.e.f. 1st October 2021."
Govt introduces rules for calculating taxable interest on PF contributions beyond specified limits
Two separate accounts within the PF account will have to be maintained during 2021-22, and onwards, for segregating the taxable and non-taxable contributions made, the Central Board of Direct Taxes (CBDT) said in a notification issued Wednesday.
CBI books 1989-batch civil servant couple in Rs 5.5 crore disproportionate assets case
Alka Jain, an Indian Revenue Service officer posted as Commissioner of Income Tax (Appeals) in Udaipur, and her husband Amit Jain, an India Railway Engineering Service officer posted as Group General Manager, Rail Vikas Nigam Ltd have been named in the FIR along with Chartered Accountant Vikas Rajvanshi who helped them acquire illegitimate assets, they alleged.
PF tax prompted by HNIs availing waiver
“One of the highest contributors has more than ₹103 crore in his PF account, followed by two second highest ones having more than ₹86 crore each,” said a government official.
20 EPF members are HNIs with Rs 825 cr in their accounts: Govt sources
The sources said that there are more than 4.5 crore contributors’ accounts in EPF. Out of these more than 1.23 lakh accounts are of HNIs who contribute monthly very huge sums to their EPF accounts.
Nearly 1.23 lakh EPF accounts of high net worth individuals have total contribution of Rs 62,500 cr
"One of the highest contributors has more than Rs 103 crore in his PF account, followed by two second highest ones having more than Rs 86 crore each... top 20 HNIs have about Rs 825 crore in their accounts while top 100 HNI contributors have more than Rs 2000 crore," one of the sources said.
Home Secretary says e-human resource management system will become effective tool for all ministries
With the advanced version of e-HRMS, employees will be able to not only see all their details with respect to service book, leave, GPF, salary, etc., but also apply for different kind of claims/reimbursements, loan/advances, leave, leave encashment, LTC advances, tour etc. on a single platform, a statement issued by the Personnel Ministry said.
Punjab releases Rs 349.50 crore for GPF, Verka plant and cycle valley project
An official spokesperson said that funds to the tune of Rs.184 crore had been released for making payments of GPF to the employees till December 31, 2019. Another sum of Rs. 111 crore for medical, Petroleum Oil and Lubricant (POL), water/electricity, material supplies and office expenses has also been released up to February 18, 2020.
Civil accounts department has sanctity attached; can't afford to err: Arun Jaitley
Speaking at the occasion, Jaitley said, "There is a certain amount of sanctity which must remain attached to the government accounting system."
No documentary proof for GPF advance, withdrawal
The government has with effect from March 7, 2017, liberalised conditions for taking advance from the GPF for education, illness and purchase of consumer durables.
Economy will gain from GPF reforms: Government
The Centre had, on March 7, liberalised GPF rules in a big sop to govt employees, by bringing about changes for withdrawals for education, obligatory expenses, illness, etc.
Officers to face action for delay in GPF payments
The move comes after it was noticed that GPF final payment in many cases was not being made to the government servants immediately after retirement leading to payment of interest for the period delayed.
Assam government fixes 8.7 per cent as GPF interest rates
The rates fixed were in conformity with the rates fixed by the Centre and would be effective from April one, 2015, an official release said here today.
UP General Provident Fund subscribers can access annual A/C statement online
Over 2.5 lakh General Provident Fund (GPF) subscribers in Uttar Pradesh can now obtain a copy of their annual account statement electronically.
Govt retains interest rate for GPF at 8.7% for current fiscal
The 8.7 per cent interest will apply on PF of central government employees, railways and defence forces, according to the finance ministry.
Arunachal Pradesh becomes first state to introduces e-GPF
Arunachal Pradesh became the first state to introduce e-GPF with the state Finance dept facilitating online access to 34,000 GPF accounts.
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