GPF FINAL WITHDRAWL


FINAL WITHDRAWAL (CLOSURE)


Final withdrawal of accumulation is permitted.
          When subscriber quits the service (on retirement, dismissal, resignation, compulsory retirement, removal etc.)
           In case of death while in service

How to Apply for Closure?

Application for closure has to be filed in Prescribed Format
The application duly filled in and signed by the subscriber / claimant(s) is to be given to the department for forwarding the same to the Prl. Accountant General along with requisite documents by the Head of Office / Head of the department as the case may be.

Conditions for Closure:

Subscription and refund to be discontinued during the last four months of service in case of superannuation. Arrears of Pay, DA, IR etc. should not be remitted during the above period.

No TA / PFW shall be sanctioned and paid to the subscriber. In exceptional circumstances, where sanction of PFWs is imperative, the same is to be communicated invariably to Prl. Accountant General and acknowledgement obtained.

Manner of Payment:

The Accounts Officer in PAG's Office closes the account after verifying the ledger accounts and isues an authority for payment to the Drawing and Disbursing Officers concerned. In case of death of the subscriber the fund accumulation payable shall be paid to the person(s) on whom the right to receive the amount is conferred by means of valid nomination. Where there is no nomination, the amount will be paid to the eligible family members in equal share on the basis of Legal Heir Certificate issued by Revenue Authorities.
  • GPF(AP) Rules do not permit payment of interest beyond the date of authorisation by the Principal Accountant General 
  • Interest is allowed up to the end of the month previous to the month in which authorisation for payment of PF balance is issued. As per G.O.No.3 of Finance and Pension II Department dated 8.1.07, interest is tobe allowed up to a maximum of 6 months after the month in which such amount became payable.
E.g: Date of retirement 30th June 2010, Amount is payable on 1st July 2010. Interest is allowable for a maximum period of 6 months reckoned from August 2010 to January 2011.

Annual Accounts Statement

          After the close of each financial year, the Principal Accountat General sends to each subscriber an Annual Accounts Statement showing the opening balance as on the 1st April of the year, the total amount deposited and withdrawn during the year, amount of interest credited as on 31st March of the year and the closing balance on that date. Subscribers have to satisfy themselves as to the correctness of the Account Statements and error should be brought to the notice of the Principal Accountant General within three months of receipt of the same.

MISSING CREDITS

           Missing credits arise due to misclassification in the treasuries or incorrect details in GPF schedules. At times, schedules / vouchers are not received from the Treasuries for various reasons and as a result some of the subscriptions/refunds/arrears/withdrawals do not get posted in the account. The month of Missing credit refers to the month in which the credit appears in the account. E.g. June 2010 (Deduction made from the pay for May 2010) These missing credits/debits can be located and include in the subscriber's account after proper verification of the accounts rendered to PAG by the Drawing and Disbursing Officers/Treasuries subject to furnishing the following details duly certified by the Drawing and Disbursing Officers and the Treasury Officers.
  • Name of the Subscriber
  • GPF Account number
  • Name of the DDO under whom the official had served
  • Amount of subscription/refund/withdrawal
  • Salary month for which details ae being furnished 
  • Head of Account (up to Detailed Head) under which salary was drawn
  • Treasury/Sub Treasury where the salary was drawn 
  • Treasury voucher number / challan number
  • Totals of the schedule amount enclosed in the particular voucher as noted on the abstract in case of credit
  • Date of payment of the voucher / remittance of the amount in the case of challan remittance
  • Total amount of the GPF payment vouchers in respect of debits
Missing Debits:
  • Sanction received without corresponding debit
  • Refund received without corresponding debit
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