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Dr.I.N.Mukherjee
25-08-2011, 09:54 PM
Some one wants to withdraw 90% from his GPF A/C in the middle of financial year for the purchase of flat. What is meant by balance at credit in the middle of financial year?

i)Is it the amount as per the Last GPF statement+Amount Deposited thereafter & upto the middle of financial year+Accrued interest on the amount as per the last statement upto the middle of financial year?or
ii)Is it the amount as per the Last GPF statement+Amount Deposited thereafter & upto the middle of financial year only i.e. there is no provision of calculating & adding accrued interest on the amount as per the last statement in the middle of financial year!

Pl. reply which one of the above is correct as per the extant rule?

RKPATHAK
26-08-2011, 09:37 AM
90% of the amount standing one's credit on the date of application is payable as withdrawal from gpf for housing purpose

prasannakumar
26-08-2011, 07:48 PM
Some one wants to withdraw 90% from his GPF A/C in the middle of financial year for the purchase of flat. What is meant by balance at credit in the middle of financial year?

i)Is it the amount as per the Last GPF statement+Amount Deposited thereafter & upto the middle of financial year+Accrued interest on the amount as per the last statement upto the middle of financial year?or
ii)Is it the amount as per the Last GPF statement+Amount Deposited thereafter & upto the middle of financial year only i.e. there is no provision of calculating & adding accrued interest on the amount as per the last statement in the middle of financial year!

Pl. reply which one of the above is correct as per the extant rule?

Balance at credit as per the last statement + deposits (subscriptions + advance) up to the preceding month

Prasanna Kumar

Dr.I.N.Mukherjee
02-09-2011, 12:27 PM
Dear Mr. R.K.Pathak & Mr.Prasanna Kumar ,

Many thanks for your reply.Pl.intimate whether there is any maximum celing of Rs. 6 Lacs one can withdraw for the 90 % withdrawal from GPF for purchasing of Flat?

Regards,

Dr.I.N.Mukherjee

RKPATHAK
02-09-2011, 01:05 PM
There is no limit to withdraw the amount from GPF only restriction is 90% of the balance in one's credit. In deserving cases interest upto the date of application can also be considered while calculating 90%. However, there are certain restrictions under CCS(Conduct) Rules about acquiring/possession of property by a Govt servant

prasannakumar
02-09-2011, 01:08 PM
Dear Mr. R.K.Pathak & Mr.Prasanna Kumar ,

Many thanks for your reply.Pl.intimate whether there is any maximum celing of Rs. 6 Lacs one can withdraw for the 90 % withdrawal from GPF for purchasing of Flat?

Regards,

Dr.I.N.Mukherjee

There is no limit for final withdrawal. But one has to obtain permission for acquiring the flat or any property (movable or immovable) from authority competent. I have no idea of the ceiling prescribed for each cadre

Prasanna Kumar

Dr.I.N.Mukherjee
12-09-2011, 12:50 PM
Pl. quote DOPT's rule to this effect i.e. there is no such ceiling of Rs.6 lacs for 90% withdrawal from GPF for the purchase of a Flat.

svsankar
12-09-2011, 07:25 PM
Rule 16(1)(iii) of GPF(CS) Rules, 1960...is the authority...but if you will go through the sanction format para 4...it states that withdrawals for house building purposes from all sources including GPF should not exceed the limits laid down by govt. of india from time to time...ie. 134 times of basic pay subject minium 7.5 lakhs maximum 18 lakhs..authority refer HBA rules...find your entitlement...