GPF Withdrawal Form PDF

GPF Withdrawal Form PDF Download

GPF Withdrawal Form PDF Download for free using the direct download link given at the bottom of this article.

GPF Withdrawal Form PDF Details
GPF Withdrawal Form
PDF Name GPF Withdrawal Form PDF
No. of Pages 1
PDF Size 0.02 MB
Language English
CategoryEnglish
Download LinkAvailable ✔
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GPF Withdrawal Form

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GPF is exclusively available for government sector employees. People employed in the Government of India contribute a minimum of 6% of their salary and are entitled to accumulated wealth at the time of retirement or retirement. The current interest rate in GPF is 7.1% All temporary government employees, all permanent government employees, and all re-employed retirees (not eligible for provident fund) are required to join GPF after one year of continuous service.

GPF Withdrawal Form PDF – Details Overview

  1. According to the official portal of pensioners -pensionersportal.gov.in, a government employee becomes a member of GPF by contributing a certain percentage of his salary to the account.
  2. At present, interest in GPF is available at the rate of 8 percent.
  3. A subscriber is required to subscribe to GPF monthly except for the period when he is under suspension.
  4. According to pensionersportal.gov.in, the membership of the General Provident Fund is stopped three months before the date of retirement.
  5. On the retirement of the subscriber, instructions are issued for immediate payment of the closing balance on retirement.
  6. A subscriber has to make a nomination in the prescribed form at the time of joining the fund, which entitles one or more persons to receive the amount standing to their credit in the fund in the event of their death, before the amount becomes due has been paid or has not been paid when it becomes due.
  7. There is no need to submit an application by the customer for final payment from the fund.
  8. Under the GPF rules, on the death of a subscriber, an additional amount equal to the average balance in the account during the three years immediately preceding his death shall be paid to the person entitled to the amount standing to the credit of the subscriber. Customer, subject to certain conditions provided in the relevant Terms.
  9. The additional amount payable under that Rule shall not exceed ₹ 60,000. To avail of this benefit, the subscriber must be in service for at least 5 years at the time of his death.
  10. As per the proposals in the Interim Budget 2019-20, people with a taxable income of Rs 6.5 lakh per annum will have to avail of “tax exemption” provided they make a contribution of ₹ 1.5 lakh in specific investments like PPF, General Provident Fund (GPF) and insurance. Invest. The proposed exemption on tax liability will be applicable from 1st April 2019.

Difference Between GPF & PPF

Sr.No Factors PPF GPF
1 Eligibility Any Indian citizen aged 18 years and above Government employees who were hired before 1 January 2004
2 Maturity Period Reaches maturity 15 years from the date of opening the account, can be extended in blocks of 5 years each Reaches maturity at retirement or superannuation of the employee
3 Interest Rate 7.1% (for Q1 of FY 2020-21) 7.1% (for Q1 of FY 2020-21)
4 Deposit Limit Minimum contribution – Rs.500 per year Employee contribution – 6% of the salary
Maximum contribution – Rs.1.5 lakh per year Government contribution – 6% of the employee’s salary
Maximum number of deposits – 12 per year
5 Tax Benefits Under Section 80C of I-T Act, contributions, interest earned, and returns are tax-free Similar tax benefits as PPF
6 Loan Facility Loan against PPF is available between the 3rd and 6th financial years of opening the account Loan against GPF can be availed at any time during a government employee’s career

Here you can free download GPF Withdrawal Form PDF by clicking the link given below.


GPF Withdrawal Form PDF Download Link