What is GPF subscription for BSNL employee, online GPF statement, how to open GPF account, GPF balance enquiry in eportal.erp.bsnl.co.in and rules for GPF advance, Recoveries of Advance, BSNL GPF withdrawal, Interest and nomination…
Contents of the topic
What is BSNL GPF ?
General Provident Fund is the GPF full form, and BSNL GPF is the savings investment tool of an employee by contributing certain percentage of their salary managed by Bharat Sanchar Nigam Limited by providing interest on each subscription amount.
The following were covered to know everything about BSNL GPF
- Employee Advance on GPF amount
- Recoveries on BSNL GPF advance
- BSNL GPF balance and withdrawal
- BSNL Employee GPF Nomination
- BSNL GPF Interest
BSNL GPF subscription
Who are eligible for GPF
An employee who was recruited in DOT (Department of Telecommunications) and absorbed to BSNL with minimum of one year continuous service including temporary servants and re employed pensioners must have to subscribe for BSNL GPF subscription at a minimum of 6% of existing BSNL basic pay scale, where the Temporary BSNL employees of DOT who have not one year service may subscribe to GPF voluntarily.
GPF subscription enhancement condition
The existing rate of BSNL GPF subscription amount at 6% on basic pay can be enhanced or increased twice in a year, but the same amount can be decreased only once in a year by submitting the written request for increase or decrease the subsciption to the concerned BSNL Accounts officer.
When BSNL stops the GPF subscriptions ?
General Provident fund subscription of BSNL employees can be stopped at the option of the government servant during Suspension, Half Pay leave, EXOL and Dies Non, and the employee on reinstatement can pay the arrears of BSNL GPF subscription in installments or one lump sum.
Other Rules on GPF subscription
Any short or excess recovery of BSNL GPF subscription found in any case, may be regularized by adjustments in subsequent monthsor by actual cash payment.
BSNL General Provident Fund subscriptions cannot be made in the employee salary for whom final withdraw has been allowed consequent upon proceeding leave preparatory to retirement or permitted to retired while on leave or medically declared unfit to service unless he returns to duty.
- BSNL GPF Advances and the rules about recovery of GPF advances
- GPF withdrawal rules applicable for all Central Government employees also
If a BSNL employee or government servant dies the course of a month, a proportionate subscription should be recovered in that month and the subscriptions for the last three months of service should be compulsorily stopped in BSNL ERP Portal.
The employee of Bharat Sanchar Nigam Limited is allowed to credit his/her bonus amount if any into their GPF account without any conditions upon request to the concerned BSNL officer.
BSNL GPF Nomination
GPF subscriber in BSNL should have a chance to nominate one or more persons (spouse, children etc..) of his family specifying the share of each at the time of joining into the department giving the right to receive the balance amount standing in the credit of his BSNL GPF account in case of any kind of death occurs.
BSNL GPF account holder can change the nomination at any time when the BSNL servant acquires family or additional member in the family, where the existing is cancelled when received new GPF nomination by concerned Accounts Officer. GPF nomination can also changed even after the retirement on superannuation or voluntarily so long as the GPF balance amount remains as unpaid.
BSNL GPF Interest Rates
General Provident Fund Interest will calculate on monthly bearing balances and credits the GPF Interest into the subscriber account at the end of the financial year which results in increasing of principal balance, here you can check the GPF interest rates announced by Government of India from 2005 to till date
|Date of Revision of GPF Interest||Rate of GPF Interest|
|2004 2005 to Nov 2011||8%|
|December 2011 to March 2012||8.6%|
|01.04.2012 to 31.03.2013||8.8%|
|01.04.2013 to 31.03.2016||8.7%|
|01.04.2016 to 30.09.2016||8.1%|
|01.10.2016 to 31.03.2017||8%|
|01.04.2017 to 30.06.2017||7.9%|
|01.07.2017 to 31.12.2017||7.8%|
|01.01.2018 to 30.09.2018||7.6%|
|01.10.2018 to 31.12.2018||8%|
|01.01.2019 to 31.03.2019||8%|