TIMELY PAYMENT OF GPF FINAL PAYMENT TO RETIRING GOVERNMENT SERVANT AND INTEREST PAYABLE ON GPF AFTER RETIREMENT

TIMELY PAYMENT OF GPF FINAL PAYMENT TO RETIRING GOVERNMENT SERVANT AND INTEREST PAYABLE ON GPF AFTER RETIREMENT

Ministry of Personnel, PG and Pensions, Government of India, New Delhi has issued Office Memorandum dated 25.10.2024 regarding timely payment of GPF Final Payment to retiring Government Servant and interest is payable on General Provident Fund (GPF) after retirement.

It has been clarified that Rule 34 of General Provident Fund Central Service Rules, 1960 clearly provides that when amount standing at the credit of a subscriber in the General Provident Fund becomes payable, it shall be duty of the Accounts Officer to make payment.

As per Rule 11(4) of GPF Rules, in case the GPF balance is not paid on retirement, interest on the GPF balance is required to be paid for the period beyond the date of retirement also.

See GPF Office Memorandum