GPF Calculator is an online tool which calculates the GPF balance and interest thereof. GPF full form is General Provident Fund, it is a must open account for government employees only. During opening a GPF account, a unique GPF number is provided to all the government employees by the competent authority.

If a GPF holder leaves the current job and re-employment. Then, a subscriber shall be allowed to continue to the existing GPF account with the same terms and conditions as before. As per GPF rules, a monthly subscription is required to deposit into a GPF account except during the under suspension period of an employee.

As per GPF rules, all government employees must contribute a certain percentage of their monthly salary into a general provident fund account.

• Employees can easily deposit the amount in his/her GPF account every month.
• Employees get attractive interest rates on GPF balance.
• Employees can withdraw the amount from the GPF account as and when required.
• Employees get the GPF final payment immediately at the time of retirement.
• A GPF employee gets a pension for life after the age of retirement.
• After the death of an employee, the legal heir will get a family pension.

General Provident Fund (GPF) offers significant tax benefits under the Indian Income Tax Act, making it an attractive savings option for government employees. In the old tax regime, contributions made by government employees to their GPF account are eligible for a tax deduction up to ₹1.5 lakh per financial year.

The deduction is part of the under Section 80C exemption limit, which includes other investments like PPF, and LIC premiums. Such GPF tax benefits are available only for government employees, as GPF accounts are not available to private sector employees.

GPF General Provident Fund is a compulsory savings scheme launched by the government for the benefit of its employees and their family members. From the amount deposited in this scheme, employees can withdraw money for various purposes at the time of need.

Not only this, the GPF employee receives pension after retirement and after the death of the employee, his/her family gets a family pension. As per rule, an employee can take the following advances and withdrawals from a GPF account.

• Withdrawal for built up house/flat/plot/construction
• Withdrawal for additions/alterations of house
• Withdrawal for upkeep of ancestral house
• Withdrawal for settlement of unemployed/ dependent children
• Withdrawal for higher education of children
• Withdrawal for celebration of marriage
• Withdrawal for purchase of motor vehicle
• Withdrawal for ceWithdrawal before retirement on superannuation

GPF is a government scheme that allows an employee to withdraw money from his GPF account for various purposes whenever needed during his service. As per GPF Withdrawal Rules 2016. In a year, a government employee can withdraw a maximum of 90% of the amount deposited in his GPF account.

GPF nomination is a process that allows a government employee to appoint a nominee for their GPF account. After making a GPF nomination, in the unfortunate event of death of the GPF holder, the amount standing in the GPF account is transferred to the nominee.

TAs per GPF rules, the nominee should be a family member. If the GPF holder does not have a family member, then they have the option to appoint another person. If a GPF holder makes more than one nominee, then distribute the share to each nominee.

At the time of joining, a GPF subscriber is required to nominate the name of one or more family members who will be legal heir of the GPF fund later on. The competent authority grants the right to the nominee to receive the accumulated credit in the GPF fund with interest in the event of the GPF holder’s demise.

In addition, the family pension will be paid to a widow with children if her income from all other sources is less than the minimum of the family pension. As per rule, the family pension is calculated at 30 percent of the basic pay last drawn by the deceased. Furthermore, the family pension will also be increased from time to time.

In the case of window demise as a government servant, the family pension will be paid to the eldest child until the child reaches the age of 25 years or until the child is no longer dependent on the widow, whichever is earlier. The family pension will also be paid to any adopted children of the deceased, provided they were adopted before the death of the deceased.

As per GPF rule the following is not eligible:

• Employees working on contract basis
• Employees working on an ad-hoc basis
• Employees working on work-charged
• Employees working on daily wages
• Employees working as apprentices

The full name of GPF is General Provident Fund which is an essential savings scheme only for government employees. It is necessary for every government employee to open his GPF. The employee is required to deposit a part of his salary in GPF every month so that he can get retirement benefits.

The full name of EPF is Employees Provident Fund and it is a savings scheme. This account is opened for employees of companies where more than 20 employees work. The full form of PPF is Public Provident Fund. Any person can open this account, whether employed, self-employed or unemployed. But the General Provident Fund is considered to be the best account.

According to the GPF rule, monthly subscriptions are stopped six months prior to the date of superannuation i.e. 58/60 years of a government employee.

The government provides a General Provident Fund (GPF) facility for its regular employees. GPF holder employees get the opportunity to contribute a fixed portion of their salary to their GPF account. The amount deposited in a GPF account gets an attractive interest rate at a pre- determined fixed by the government. Employees also have the option to withdraw the accumulated amount from their GPF account.

GPF slip serves to indicate the status of an employee’s GPF account. It helps the employee to plan the right strategy for retirement by saving. The slip from the GPF statement generator reveals details like opening balance, contributions for the year, interest earned, withdrawals and closing balance of the GPF account. This slip is an important GPF balance sheet for the employee.

GPF Annual Statement is an important document for government employees who have a GPF account. Which provides important information to help them in their savings and retirement planning. Employees can easily check your GPF balance, download the slip online from GPF Statement Generator or from the official website.

General Provident Fund is an account which is most beneficial for the Government employees. At the time of any requirement, an employee can withdraw money from a GPF account and pension can be taken after retirement. In spite of this, after death the employee’s family is entitled to get a family pension. By understanding the GPF rules, an employee can secure a better future for myself and their family.