General Provident Fund (GPF) Statement – Karnataka
The General Provident Fund (GPF) is a savings scheme available to government employees in India, including those working under the Karnataka State Government. It allows employees to contribute a portion of their salary towards long-term savings, with the option to withdraw under certain conditions. The GPF is governed by the provisions laid out in the Karnataka GPF Rules.
Eligibility
All permanent government employees, including those in pensionable services, are eligible to subscribe to the GPF. Temporary employees with at least one year of continuous service may also be allowed to join.
Contributions
Employees can voluntarily contribute a minimum of 6% of their emoluments, which includes basic pay and dearness allowance. The contribution is deducted monthly from the salary. The government does not contribute to the fund but pays interest annually, compounded yearly.
Interest Rate
The rate of interest is notified by the Ministry of Finance and is subject to periodic revisions. As of recent updates, the interest rate generally hovers around 7% to 8%.
GPF Account Statement
Each employee is provided with a GPF statement annually, detailing:
Opening balance
Monthly contributions
Withdrawals, if any
Interest credited
Closing balance
The Karnataka Treasury Department manages the GPF accounts and provides online access through its official website. Employees can log in using their GPF account number and registered credentials to view and download their statements.
Withdrawals and Advances
Subscribers are permitted to take temporary advances or make partial withdrawals for specific purposes like education, medical treatment, marriage, or purchasing a home. Final withdrawal is allowed upon retirement, resignation, or death.
Benefits
Tax benefits under Section 80C of the Income Tax Act
Secure savings with government backing
Facility to apply for loans or advances
Transparent and trackable transactions through digital access
Accessing GPF Statement
To check the GPF statement online:
Visit the Karnataka Treasury website.
Click on the GPF option.
New user must register using your department codes example as first three letters of department name in capital letters education department as EDN followed by your GPF account number, employees name as per GPF bond.
Enter the GPF account number and other required details.
View or download the statement.
already registered users must follow the below link to download the GPF statement
Users to enter the department series code of three capital letters and GPF account number and password and finally get the 3 years GPF statement.
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