GPF (CS) RULES, 1960 - Features

Advances from the fund

The appropriate sanctioning authority may sanction the payment to any subscriber of an advance consisting of  a sum of whole rupees and not exceeding in amount three months’ pay or half the amount standing to his credit in the Fund, whichever is less Purpose  of taking advance from the GPF  (a).To pay expenses in connection with the illness, confinement or a disability, including where necessary,   the traveling expenses of the subscriber and members of his family or any person actually dependent on him; (b) to meet cost of higher education, including where necessary the traveling expenses of the subscriber and members of his family or any person actually dependent on him in the following cases, namely :- (ii) for education outside India for academic, technical, professional or vocational course beyond the High School stage; and  (ii) for any medical, engineering or other technical or specialized course in India beyond the High School stage, provided that the course of study is for not less than three years. (  illness, higher education, education outside India  ) c. to purchase consumer durables such as TV, VCR/VCP, washing machines, cooking range, geysers and computers. When an advance is sanctioned under sub-rule (2) before repayment of last installment of any previous advance is completed, the balance of any previous advance not recovered shall be added to the advance so sanctioned and the installments for recovery shall be  fixed with reference to the consolidated amount.

Withdrawals from the Fund

after the completion of (fifteen) years of service (including broken periods of service, if any) of a subscriber or within ten years before the date of his retirement on superannuation, whichever is earlier, from the amount standing to his credit in the Fund, for one or more of the following purposes

Purpose of Withdrawals Meeting the cost of higher education  (for education outside India for academic, technical, professional or vocational course beyond the High School stage for any medical, engineering  or other  technical or specialized course in India beyond the High School stage. building or acquiring a suitable house,  repaying an outstanding amount on account of loan, reconstructing or making additions or alterations to a house  within twelve months before the date of subscriber’s  retirement on superannuation

Condition Fund shall not ordinarily exceed one-half of such amount or six months’ pay, whichever is Less (The sanctioning authority may, however sanction the withdrawal of an amount in excess of this limit up to ¾ of the balance at his credit)

Subsequent Advance/Withdrawal: Subsequent advance will be sanctioned only after 30 days of recovery of the last installment and/or full refund of outstanding balance of the previous advance(s), if any. Application for subsequent withdrawal for  any purpose for which a withdrawal has been sanctioned to the subscriber in any earlier occasion will be processed according to GoI, Dept.  of Pen & PW, Notification No. 45/44/97-P & PW (F), dated  18.11.199

Time Gap: At least 6 months time gap will be maintained between any two advances and/or withdrawals

Disbursement Disbursement of sanctioned amount of advances and withdrawals will be made twice (on 10th  & 25th ) every month for general cases and once (on 10th ) every month for special cases. Where 10th  and 25th  happens to be a Saturday/Sunday/Holiday disbursement will be made in the next working day.

Processing Period Applications for advance/withdrawals  must be submitted at least 3 working days before the designated dates for disbursement

Refund Refund of withdrawals and partial refund of advances will not be entertained under any circumstances. Refund of whole outstanding advance will be accepted only within the first week of every month and subject to the condition that the subscriber will not apply for another advance within the next 30 days.

General Rules referred in this circular are of General Provident Fund (Central Services) Rules, 1960. Any other cases not covered in this circular will be as per General Provident Fund (Central Services) Rules, 1960 or Contributory Provident Fund (India) Rules, 1962 or Provident Fund Act, 1925 as the case may be. This circular supersedes all circulars issued in this regard till date