Odisha Govt relaxes GPF Rules for Employees
Bhubaneswar: Odisha government on Tuesday made amendments to the General Provident Fund Rules (Odisha), 1938 and relaxed the norms for withdrawal of General Provident Fund (GPF) for its employees.
As per the official notification issued by the Finance Department, the state government employees can now withdraw their GPF amount partly or fully after completion of 10 years of service against 20 years earlier.
The employees can withdraw the amount for education, wedding of their children, performing rituals of shraddha of their family members, for construction of house, new house purchase and buying land for house or renovation of house.
For wedding and other provisions of their children, the employees are entitled to withdraw 12 months’ salary or 3/4th of amount. But on health ground, they can withdraw 90% of amount from the GPF.
Similarly, they also can withdraw 90% of their GPF amount for construction of house, new house purchase, buying land for house or renovation of house. Earlier, they were allowed to withdraw 12 months’ salary or 50% of fund deposited in GPF on this ground.
As per the notification, an employee is entitled to get the amount within 30 days of applying for the withdrawal from GPF. But in the case of an emergency like illness, one can get the amount in just 10 days.