No documentary proof for GPF advance, withdrawal, says Government
The government has with effect from March 7, 2017, simplified and liberalised the conditions for taking advance from the fund for education, illness and purchase of consumer durables.
"Conditions and procedures for withdrawal from the fund for the purpose of education, illness, housing, purchase of motor vehicles etc. have also been liberalised.
"No documentary proof is required to be submitted now for advance and withdrawal applications. A simple declaration by the subscriber is sufficient," the minister said in a written reply to Lok Sabha.
A time limit for sanction and payment of advance or withdrawal has also been fixed, said Singh, the Minister of State for Personnel.
He said there is no proposal under consideration of the government to increase/link the rate of interest on GPF at parity with that of Employees' Provident Fund (EPF).
"The interest rates on EPF are decided on the recommendations of the Central Board of Trustees taking into account the yearly income from the investment made by EPFO.
The GPF interest rate is presently fixed at par with that of PPF interest rate," said Singh.
National Unity Day: A tribute to Sardar Patel | Master Stroke
What all changed after J&K officially bifurcated into 2 UTs? | Master Stroke
Israeli spyware Pegasus snooped on Indian Journalists through Whatsapp | Master Stroke
Maharashtra: Shiv Sena's Sanjay Raut Meets Sharad Pawar
Drill displays IED diffused with the help of a robot by NSG
Article 370 only gave separatism and terrorism to J&K: PM Modi in Kevadiya
Let us work towards making India $5 trillion economy: Modi To Trainee Civil Servant | Full Speech
Radio Stations in Jammu, Srinagar and Leh renamed
Jammu and Kashmir to witness 'Acche Din'? | Seedha Sawal
Expert advice on how to survive poor air quality in Delhi-NCR