Odisha Government relaxes GPF norms for withdrawal
Bhubaneswar: The State Government has relaxed the norms for withdrawal of General Provident Fund (GPF) for its employees by making amendments to the General Provident Fund Rules (Odisha), 1938.
According to an official notification published on Tuesday, the government employees can now withdraw their GPF amounts partly or fully after completion of 10 years of service.
Earlier, the employees were allowed to withdraw their GPF amounts after 20 years of their service.
As per present amendment of rules, the employees can also withdraw amount for education, wedding of their children and performing Shraddha of their family members. For wedding and other provisions of their children, they are entitled to withdraw 12 months’ salary or 3/4th of the amount from the GPF. On health ground, they can withdraw 90 per cent of the amount from the GPF.
Also 90 per cent amount can be withdrawn for construction of house, new house purchase, buying land for house or renovation of house. Earlier, the employees were allowed to withdraw 12 months’ salary or 50 per cent of fund deposited in the GPF on this ground.
The notification says that the amount will be sanctioned for an employee within 30 days of applying for withdrawal. In emergency cases like illness, one can get the amount in 10 days.