Central Government Employees Latest News

8th Pay Commission Latest News Today, Pay Matrix, Expected DA Rates Table

You are here: Home / GPF / GPF for those who have been Recruited on or after 1-1-2004
7th Pay Commission Salary Calculator January 2025 (55% DA Updated)
January 2025 DA Calculator (55% Confirmed!)
New Rates of House Rent Allowance (Updated 2025)
New Rates of Transport Allowance (Updated 2025)
Central Government First Pay Calculator 2025

GPF for those who have been Recruited on or after 1-1-2004

June 19, 2023 admin Leave a Comment

GPF for those Recruited After 2004 | Details & Information

The General Provident Fund (GPF) is a scheme that applies to individuals who have been recruited on or after January 1st, 2004. This scheme allows employees to contribute a portion of their salary to a savings account that accrues interest over time. The purpose of the GPF is to provide financial security to employees during their retirement years and to help them meet unforeseen expenses. Through this scheme, employees have a reliable and safe way to save money for their future.

Shiva Gopal Mishra
Secretary

National Council (Staff Side)
Joint Consultative Machinery
for Central Government Employees
13C, Ferozshah Road, New Delhi – 110001
E-Mail : nc.jcm.np@gmail.com

No.NC-JCM-2019/Pension/NPS

April 23 , 2019

The Secretary
Government of India
Department of Pension and Pensioners welfare
3rd Floor, Lok Nayak Bhawan.
Khan Market, New Delhi.

Sir,

Sub : GPF for those who have been recruited on or after 1-1-2004.

Ref : Item No. 5 of the agenda point discussed in the 47th meeting of National Council (JCM) held under the Chairmanship of Cabinet Secretary on 13th April 2019.

You are aware that the Staff side of the National Council JCM is repeatedly demanding for withdrawing the NPS and re introduce the defined Guaranteed pension scheme under the CCS (Pension) Rules 1972 to the employees who have been recruited on or after 1-1-2004. However pending the same the staff side has represented for extending the benefit of GPF for those employees who have been appointed on or before 1-1-2004 and governed under NPS on an optional basis. In the 47th National Council JCM meeting held on 13-4-2019, the Staff side reiterated their demand and requested that the GPF scheme may be extended to the NPS employees who opt for the same as an additional saving benefit. The Cabinet Secretary desired that the demand of the Staff Side may be considered favorably. Your good self has also assured that the demand of the Staff side would be considered and decision taken at the earliest.

In view of the above we submit the following justification for extending the GPF benefit on optional basis to the employees who are governed under the NPS scheme.

The advantage of GPF to the employees is as follows:

(1) The interest rate for GPF accumulation is 8% as on date.

(2) Advances from GPF is permissible for the following purposes.

(i) Illness of self, family members or dependents.

(ii) Education of family members or dependent of the subscriber. Education will include primary, secondary and higher education, covering all streams and educational institutions.

(iii) Obligatory expenses, viz. betrothal, marriage, funerals or other ceremonies.

(iv) Cost of legal proceedings

(v) Cost of defence

(vi) Purchase of consumer durable

(vii) Pilgrimage and visiting places of eminence. This will include any travel and tourism related activities.

(3) Apart from the advances as mentioned above GPF subscribers are entitled for withdrawals from GPF for the following purposes.

(i) Education : This will include primary, secondary and higher education covering all streams and institutions.

(ii) Obligatory expenses, viz. betrothal, marriage, funerals, or other ceremonies of self or family members and dependants.

(iii) Illness of self, family members or dependants.

(iv) Purchase of consumer durables.

(v) Housing including building or acquiring a suitable house or a ready built flat for his residence.

(vi) Repayment of outstanding housing loan.

(vii) Purchase of house site for building a house.

(viii) Constructing a house on a site acquired.

(ix) Reconstructing or making additions on a house already acquired.

(x) Renovating, additions or alterations of ancestral house.

(xi) Purchase of motor car/ motor cycle/ scooter etc. or repayment of loan already taken for the purpose.

(xii) Extensive repairs / overhauling of motor car.

(xiii) Making deposit to book a motor car / motor cycle / scooter, moped, etc.

Apart from the above tax deduction under section 80C is also available. Annual statements will be issued on the 1st of April every year.

From the above it is amply clear that the GPF is more advantages to the employees than the Tier-II scheme of NPS. Therefore as stated by the staff side in the National Council JCM meeting held on 13-4-2019 it is once again reiterated that the GPF scheme may be extended to the willing NPS employees who opt for the same. Necessary orders in this regard may please be issued at the earliest. A copy of your instructions may please be endorsed to this Office.

Thanking you

Yours faithfully,
sd/-
(Shiva Gopal Mishra)
Secretary

View More

What is the current interest rate for GPF accumulation?

The interest rate for GPF accumulation is 8% as on date.

Can advances be taken from GPF?

Yes, advances from GPF are permissible for various purposes.

No related posts.

Filed Under: GPF, GPF Interest 2019, NC JCM Staff Side

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Online Calculators

  • 7th Pay Commission Salary Calculator January 2025 (55% DA Updated)
  • Expected DA from July 2025 Calculator
  • Pay Scale Conversion Calculator
  • 7th CPC Increment Calculator 2025
  • KVS PGT, TGT, PRT Teacher Salary Calculator 2025
  • Bonus Calculator for CG Employees 2025
  • CGEGIS Savings Fund Benefit Calculator Updated 2025
  • Central Government First Pay Calculator 2025
  • Retirement Date Calculator for CG Employees
  • DA Arrears Calculator January 2025 (55% Updated)
  • Commutation Factor Value of Pension Calculator
  • Leave Encashment of CG Employees Calculator
  • HRA Income Tax Exemption Calculator for Salaried Employees
  • 7th CPC Pension and Arrears Calculator
  • Fixation of Pay on Promotion Calculator as per FR 22(I)(a)(1)
  • 7th CPC Pay Calculator for Teachers in Universities and Colleges
  • 18 Months DA Arrears Calculator for CG Employees
  • 18 Months DA Arrears Calculator for CG Pensioners
  • 7th CPC TA & DA Calculator
  • Government Pension Calculator 2025
  • CPSE (IDA Pay Scale) Salary Calculator
  • DA Amount Calculator Online 2024
  • Dearness Relief (DR) Calculator for Pensioners
  • Expected January 2024 IDA Calculator for BSNL Employees
  • Expected IDA Calculator from April 2024 for CPSE Employees
  • GPF Interest Rate Calculator
  • HRA Online Calculator
  • LTC Cash Voucher Scheme Calculator
  • Option Calculator for Promotion or MACP to Switch over to 7th CPC
  • OROP Arrears Calculator for Defence Pensioners
  • Simple Online New & Old Regime Income Tax Calculator

State Govt Calculators

  • Maharashtra Govt 7th Pay Commission Calculator
  • Karnataka Pension and Family Pension Calculator
  • Option for Fixation Calculator for Tamil Nadu Govt Employees
  • Pay Calculator for Jammu & Kashmir Govt Employees
  • Pay Scale Calculator for Karnataka Govt Employees
  • Rajasthan Employees Pay Matrix Calculator
  • Tamil Nadu Govt Employees Pay Calculator
  • WB 6th Pay Commission Revised Pay Calculator

Top Pages

  • Pay Matrix Table for Central Government Employees
  • 7th CPC DA Calculation Table 2016 to 2025
  • DA Rates Table 2025 | Current DA Rate 53%
  • CSD Price List 2025: Car, Bike, Scooter, AC, TV, WM and Fridge
  • Kendriya Vidyalaya Fee Structure 2025-26
  • Kendriya Vidyalaya Balvatika School Admission Form 2025-26
  • 7th CPC Briefcase Allowance 2025

8th Pay Commission News

  • Latest 8th Pay Commission News Date, Salary Slab, Pay Scale Calculator
  • Expected 8th Pay Commission Pay Matrix Table

Latest Discussions

  • Manoj Kumar on Clarification on MACP Grade Pay 4200 to 4600 Inspector Posts
  • M K KUMAR on Gratuity ceiling raised to 20 Lakhs w.e.f. 29.3.2018
  • M K KUMAR on Clarification on MACP Grade Pay 4200 to 4600 Inspector Posts
  • Meena on KV School Contractual Teachers | Consolidated Pay and Qualification for all Posts 2025-26
  • dilip yadaav on 7th CPC MACP APAR Benchmark Grading System
  • A V FERNANDEZ on 7th CPC Pay Fixation on Promotion Calculator with Matrix Table 2025
  • Harpreet Singh on Gratuity ceiling raised to 20 Lakhs w.e.f. 29.3.2018
  • Thirumalesh C on Clarification on MACP Grade Pay 4200 to 4600 Inspector Posts
  • M K KUMAR on Karnataka Pension and Family Pension Calculator
  • M K KUMAR on Karnataka Pension and Family Pension Calculator
Copyright © 2023 | Central Government Employees News | 7th Pay Commission News | Sitemap | Site maintained by TEUT Digital Concepts