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GPF withdrawal liberalized for State govt employees




 The State government has liberalized the provisions for withdrawal from General Provident Fund (GPF) for its employees.

As per official sources, the State government employees can now withdraw funds from their GPF account for education including primary, secondary and higher education covering all streams and institutions. Besides, they can withdraw funds for obligatory expenses including betrothal, marriage, funerals or other ceremonies of self or family members or dependants. The State government employees can also utilize their GPF funds for illness of self, family members or dependants and purchase of consumer durables.

It has been decided to permit withdrawal of up to 12 months pay or three-fourth of the amount standing at credit whichever is less. For illness, the withdrawal may be allowed up to 90 pc of the amount standing at credit of the subscriber. A subscriber may seek withdrawal after completion of ten years of service.

The GPF subscribers can also utilize their funds for housing including building or acquiring a suitable house or a ready built flat, repayment of outstanding housing loan, purchase of house site for building a house, constructing a house on a site acquired, reconstructing or making additions on a house already acquired and renovating, additions or alterations of ancestral house.






Editorial

Précis 2017
From asking his party men to ‘live a simple life and serve the people’ to taunting the BJP for its ‘crocodile tears’, Chief Minister and BJD supremo Naveen Patnaik has not only become politically invincible, he seems to be so in the coming years too.

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