Sir,
It is heartening to read that in an employee friendly decision,the norms for the withdrawal of General Provident Fund (GPF) have been relaxed for the Central Government employees and now they will be able to receive payments within 15 days.(DE, Mar 9, 2017).
The employees, whether of Central or the State Govenments contribute a part of their hard earned money to GPF so that they can withdraw some of it in time of emergency or exigency such as marriage, repair of house, illness etc.But sometimes, it so happens that the subscriber fails to receive the valuable amount in time due to various reasons.As a result he/she has to face many hardships to arrange money to meet obligatory expenses.Now that the Central Government has decided to prescribe a time limit of fifteen days for sanction and payment of withdrawal from the fund, it will come as a great relief to the subscribers to meet their obligatory expenses such as Betrothal, marriage, other ceremonies of the self or family members/dependents, illness of self, family members and dependents.The new norms will also help the subscribers to withdraw GPF for education including primary, secondary and higher education covering all streams and institutions.
The new norms permit the subscribers who have completed ten years of service to withdraw GPF and they can withdraw upto twelve months pay or three fourth of the amount standing at credit,whichever is less while in case of emergencies like illness, the time limit may be restricted to seven days and they can withdraw upto 90 percent of the amount standing at their credit.It is time that the State Governments too implemented the order of Central Government and relaxed and simplified the procedure and raised the limit of GPF withdrawal of their employees for meeting the obligatory expenses pertaining to them or their family members and dependents.
Yours etc…..
Ashok Sharma,
Flat No 4, Housing Colony,
Udhampur.
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