Employees with 15 years of service can now withdraw up to 90% of their GPF

GANGTOK, 09 Dec: Some significant changes have been effected to the General Provident Fund (Sikkim Service) Rules 1984 recently by the State government. Those officials who have been accorded extension of service and those who have been re-employed are not eligible to subscribe to the fund as per the latest changes made to the GPF rules.

It has also been decided that no arrear payable to a subscriber due to revision of pay, dearness allowance etc shall be credited to the GPF account.
The government has also done away with the note in the rules which earlier stated that “No recovery of subscription shall be made during the last three months of the service of the subscriber” under Rule 10 – Recovery of Subscription.
An employee who has completed 15 years of service, will now be eligible to withdraw 90% of the amount standing to his credit in the fund for various purposes including cost of higher education of children, medical expenses for prolonged illness, marriage expenses and purchase or repair of residential house or for purchase of plot. Earlier, this was limited to 75% and only employees who had put in 20 years of service were eligible.
Employees will now also be able to verify and satisfy themselves on the correctness of their GPF accounts and subscription on an annual basis as their GPF passbook will be handed over to them by the provident fund officer.
They will be able to verify the interest calculated under their GPF account and should any subscriber find that the balance shown in the GPF passbook is lesser than what he has actually subscribed or is incorrect he can obtain and file an objection memo.
Further, on receipt of application from the subscribers, Certificate confirming the credit balance shall be issued to them for any purpose other than legal proceeding. Employees can also view their GPF  details in the GPF Web Page http\\intrasikkim.nic.in
With the introduction of the online transfer of the GPF Data from the PAOs, any arithmetical or clerical discrepancies of the year will be rectified only after the receipt of the Objection Memo issued by the GPF Office and verified by the concerned PAO. Any missing credits prior to the Online Data Transfer system shall be rectified on the basis of the certificate from the concerned Drawing and Disbursing Officer, duly countersigned by the concerned Head of Office and the concerned Chief Pay and Accounts Officer of the Concerned District from where the Pay and Salaries have been drawn as documentary collateral evidence. Such insertion should bear the initials of the Ledge Keeper and the Accounts Officer, GPF Section.