GPF (GENERAL PROVIDENT FUND)
GPF branch maintins employee wise GPF boardsheets in respect of employees working in Higher Education Department/ Colleges and NCC units of Punjab battalion. Maintenance of GPF accounts of subscribers of Government of Punjab is governed by the GPF rules as described in Civil Services rules Volume - II [Chapter XIII].
[Fourth Edition] Amendments are followed as presented by Government of Punjab from Time to Time:
ANNUAL INTEREST OF GPF
| FINANCIAL YEAR | INTEREST RATE |
|---|---|
| 1999-2000 | 12% |
| 2000-2001 | 11% |
| 2001-2002 | 9.5 % |
| 2002-2003 | 9% |
| 2003-2004 to 30.11.2011 | 8% |
| 01.12.2011 to 31.03.2012 | 8.6% |
| 2012-2013 | 8.8% |
| 2013-2014 | 8.7% |
| 2014-2015 | 8.7% |
| 2015-2016 | 8.7% |
| 01.04.2016-30.09.2016 | 8.1% |
| 01.10.2016-31.03.2017 | 8.0% |
| 01.04.2017-30.06.2017 | 7.9% |
| 01.07.2017-till date | 7.8% |
GPF Management being done with iHRM. The management system has been created by National Infomatics Centre, Punjab State Centre, Chandigarh. Because of iHRM GPF management system. The employee can see his own GPF ledger and statement online as well as through mobile application.
MAJOR RESPONSIBILITIES HANDLED
- Opening Balance Entries
- Backlog/ offline entries
- Calculate interest
- Create GPF Statement
- Advance payments as per requirement of employee
- Final payments of GPF statement