Important information for employees. In fact, new orders were issued by the Department of Pension and Pensioners’ Welfare (DoPPW). Under which new amendments have been made regarding the maximum amount of Provident Fund of 6th-7th pay commission employees and customers. Let’s know about it.
Under this, the ceiling of subscription of GPFF in a financial year should be up to Rs 5 lakh. However, earlier there was no limit on the total amount of subscription in a subscriber’s GPF account.
As per the General Provident Fund (Central Services) Rules, 1960, the amount of subscription to GPF in respect of a subscriber should not be less than 6% of the emoluments and not more than the total emoluments of the subscriber. However, there was no limit on the total amount of subscription in a subscriber’s own GPF account in a financial year.
Rule 7, 8 and 10 of the General Provident Fund (Central Services) Rules, 1960 vide notification No. G.S.R. 96 dated 15.06.2022 has been modified. As per the said notification dated 15.06.2022, the amount of monthly subscription by a subscriber under GPF during a financial year plus the amount of outstanding subscription deposited in that financial year shall be limited to) sub-rule of rule 9D of the Income-tax Rules, 1962 ( 2) referred to in sub-section (i) of clause (c) of the Explanation below [as referred to in Notification No. G.S.R. 604(E) dated 31.08.2021 Ministry of Finance, Department of Revenue (Central Board of Direct Taxes)] at present should not exceed five lakh rupees.
All Ministries/Departments are requested to make a request to all Government servants and in particular the Ministry/Department and its attached/subordinate offices under GPF in a financial year with regard to the above amended provisions of the GPF Rules, 1960. Wide publicity may be given to the personnel working for strict implementation of GPF cases in the
