Sunday, June 13, 2010

General provident fund (GPF) ---Conditions for final closure

General provident fund (GPF) ---Conditions for final closure

Final Closure
Final withdrawals from the Fund

Final withdrawal of accumulation in the Fund shall become payable to the government official;


when a subscriber quits the service


when a subscriber retires on superannuation.


in case of death while in service

Submission of application for final withdrawal :
The application duly signed by the subscriber / claimant for the final withdrawal of the balance at credit in the account should be given to the department a year before the date of retirement and it is to be forwarded to Accountant General’s office along with requisite documents by the authority who is competent to sanction temporary advance / part final withdrawal to the subscriber.
Manner of payment :
The Accounts officer shall after verification with the ledger account issue an authority for the amount, determined as payable, at least a month before the date of superannuation but payable on the date of superannuation. The GPF accumulations payable to the Government Servant shall be paid to the person(s) on whom the right to receive the amount is conferred by means of a nomination as per rules, if the said Government Servant dies after retirement without receiving the GPF accumulations. If the Government Servant dies while in service, where there is no nomination, the amount will be paid to the family members as per rules.
source;AGs office

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