Home BIG STORY Odisha eases GPF withdrawal norms, employees can get amount after 10 yrs...

Odisha eases GPF withdrawal norms, employees can get amount after 10 yrs of service

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Odisha Sun Times Bureau
Bhubaneswar, June 7:

Odisha government relaxed the norms for withdrawal of General Provident Fund (GPF) for its employees by making amendments to the General Provident Fund Rules (Odisha), 1938.

As per the official notification published following approval by Odisha finance minister Sashibhushan Behera on Tuesday, the state government employees can withdraw the GPF amount partly or fully after completion of 10 years of service.

Earlier, employees were allowed to withdraw their GPF amount after 20 years of their service.

With the recent amendment to the rules, the employees can also withdraw amount for education, wedding of their children and performing rituals of shraddha of their family members. For wedding and other provisions of their children, they are entitled to withdraw 12-month salary or 3/4th of amount from GPF. Under health ground, they can withdraw 90% of amount from GPF.

Also 90% amount can be withdrawn for construction of house, new house purchase, buying land for house or renovation of house.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-month salary or 50% of fund deposited in GPF on this ground.

The notification by the finance department says that the amount will be sanctioned for an employee within 30 days of applying for the withdrawal from GPF. In case of emergency cases like illness, one can get the amount in 10 days.