Presentation on General Provident Fund Sri Sib Sankar Banik,W.B.A.&A.S. Internal Audit Officer Finance (Internal Audit)Deptt. Govt. of W.B.

The General Provident Fund (West Bengal Services) Rule Name of the Rule The General Provident Fund (West Bengal Services) Rule

Opening of Account Each regular employee will have to subscribe to the G.P.F compulsorily after 1 year of service One will have to apply in prescribed form for opening A/c Head of office will send application to A.G (A & E) WB A.G (A & E) WB will open A/c for Group A, B & C employees Head of office will open A/c for Group D Employee

H.O Office will maintain following register for Group D employees Ledger A/c in Form – 1 Broad sheet in Form – 2 General Index Register Form – 3 Statement showing total debit and credit in each month in Form – 5 A/c for Group A, B & C employees is maintained by A.G (A & E) WB

Subscription Subscription is fixed by the employee but it should not be less than 6% of pay and not more than 100% of pay as defined in 5(28) of WBSR Pt. 1 In case of delay in opening A/c, arrear subscription after 1 year will have to be deducted Subscription once fixed shall remain unchanged during the financial year Subscription shall be stopped compulsorily 3 months prior to retirement

Deduction Subscription is deducted through salary bill by the DDO and the same is deposited in proper head through schedule – T.R.FORM- 46 & 47. In case of foreign service, the subscription is deposited into Bank through T.R - 7

Nomination A subscriber can nominate one or more person the right to receive any amount on death of the subscriber If subscriber has a family, nomination shall be made in favour of family member Duly filled in nomination form shall be submitted to Head of Office Head of Office shall accept the same and send it to A.G (A&E) WB in case of A, B or C category employee for recording. In case of Group D employee, he can retain the same.

Family Husband/ Wife or wives and children of subscriber Widow or widows and children of deceased son of subscriber

Advance from the fund – Grounds for advance (Rule 15(1) (a)) To pay expenses of prolonged illness of dependent of subscriber To pay overseas passage money for higher education/ treatment of subscriber or his dependent To pay obligatory expenses for marriage or other ceremonies of subscriber or his dependent. Pay expenses of higher education subscriber or dependent for medicine, engineering or other technical courses of passing West Bengal B.S Exam

Special Advance 15(i)(a)(c) Subscriber may apply for special advance when amount required is more than amount admissible normally and also where recovery if some installments of earlier loan is due

Non refundable advance or part-final withdrawal Rule 15A A subscriber may apply for such advance after completion of 15 years of service or 10 years from retirement which ever is earlier

Grounds To meet cost of higher education of any child of subscriber abroad for academic, technical etc. courses beyond high school stage provided duration of course is more than 3 years To meet expenses of marriage of son or daughter or any female member dependent on subscriber To meet medical expenses of subscriber or person dependent on hand. To meet expenses of building or acquiring suitable home for to repay loan taken for above purpose, for addition, alteration or reconstruction of house of subscriber

Amount of Loan Normally 50% of balance, or 3 months pay whichever is less Special Loan – 15 (i)(c) Upto 75% of balance Non-Refundable Advance Upto 75% of balance. An utilisation certificate to be furnished within 6 months

Sanctioning Authority Head of Office

Final Withdrawal 90% of balance may be withdrawn within one year from date of retirement On superannuation without assigning any reason

Interest For Group D employees, it is calculated and credited in a/c by head of office at the end of each financial year For other A,B,C grade employee it is credited after calculated by A.G (A&E), WB Rate of Interest for 2010-11 is 8.60% w.e.f 01.12.2012 vide order no.2908-F(J) dt.09.04.2012

Final Payment Subscriber apply in Form 10A Head of Office sanction final payment for Group D and take steps for payment For Group A, B, C employee, application are forwarded to Principal A.G (A&E), WB Principal A.G (A&E), WB sanction payment DDO draws the sanctioned amount from treasury

Death Case Nomination exists – Nominees to submit application in Form 10 B Nomination does not exists – All members of family as per succession certificate shall apply to H.O

Head Receipt 8009 – State Prov. Fund 01 - Civil 101 – G.P.F 102 - C.P.F 103 – ICS P.F 104 – AIS P.G

001 - State Govt. employees other than Group D Employees 002 – Group D employees 19 – Subscription/ Recoveries Receipt – 8009-01-101-001-19 Payment – 8009-01-101-001-23 Payment – 8009-01-101-002-23