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The government has proposed an amendment to the provisions of the general Provident Fund (Central Service) Rules, 1960. This amendment seeks to liberalize the provisions for drawal of advance from the Fund by the subscribers. This potentially means that subscribers will have an easier time accessing funds from their Provident Fund accounts. The proposed amendment is currently under review and further details are expected to be announced soon.
F.No.C/7026/VII CPC/73/423/D(Pay/Services)
Government Of India
Ministry of Defence
New Delhi, the 22-May 2019
To
The Chief of the Army Staff
The Chief Of the Air Staff
The Chief of the Naval Staff
Subject:- Amendment to the provisions of general Provident Fund (Central Service) Rules, 1960- liberalization Of provisions for drawal of advance from the Fund by the subscribers-regarding
Sir,
I am directed to refer to Ministry of Personnel, PG & pension’ OM NO. 3/2/2017-P&PW (F)(i) & OM No. 3/2/2017-P&PW dated 7th March, 2017 on the above subject. The provisions of the said letter will mutatis-mutandis be applicable to Armed Forces Personnel
2. This letter issue’ with Concurrence Of Defence (Finance) vide their Dy. NO
209/AG/PD/2019 dated 17.05.2019.
Encl. As above.
Yours Faithfully,
sd/-
(Arun Kumar)
Under Secretary to the Government of India
Who does this amendment apply to?
This amendment specifically applies to Armed Forces Personnel.
What is the amendment to the provisions of General Provident Fund (Central Service) Rules, 1960?
The amendment relates to the liberalization of provisions for the drawal of advance from the Fund by the subscribers.
What does the liberalization of provisions mean?
Liberalization of provisions means that there are now more relaxed rules and regulations regarding the drawal of an advance from the General Provident Fund for Armed Forces Personnel.
Why was this amendment necessary?
This amendment was necessary to address the unique needs and circumstances of Armed Forces Personnel and to provide them with more flexible access to their General Provident Fund.
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