What is GPF & GPF Withdrawal is Taxable

What does GPF mean? Find about complete details about General Provident Fund statement or account slip and interest rate, and when an employee can withdraw the fund in GPF account…

The GPF full form is General Provident Fund, where it is a provident fund account dedicated to a government employee allowed to contribute after one year of continuous service, and the employee contributes a monthly installment of their salary which is saved in the account by applying current GPF interest rate.

When Should GPF Deduction Stopped How many times GPF Can be Withdrawn
Is GPF Tax Free GPF Full Form

This GeneraL Provident Fund amount deposited back to the employee bank account by retirement or to the account of the Nominee in case of causality.

You may download or check the General Provident Fund statement of different departments/states as per the mentioned below

GPF Slip

AP GPF Account Slip Chhattisgarh GPF Slip Jammu Kashmir GPF Slip
Madhya Pradesh GPF Slip Karnataka GPF Statement Maharashtra GPF Slip
Odisha GPF Slip Puducherry GPF Slip Meghalaya GPF Slip
Tamilnadu GPF Slip Telangana GPF Slip West Bengal GPF Slip
GPF Nagaland Slip Gujarat GPF Balance HP (Himachal Pradesh) GPF Statement
Chandigarh GPF Statement Haryana GPF Statement Jharkhand GPF Statement
Kerala GPF Statement AIIMS GPF Statement Uttarakhand GPF Statement
UP GPF Statement Bihar Employee GPF Statement Assam Employee GPF Statement
NDMC Employee GPF Statement GPF Tripura Statement Punjab GPF Annual Statement

Is General Provident Fund withdrawal taxable?

No, as GPF is a Government organized option for the benefits of employees, and the amount collected at the time of retirement, which is a huge one will not be taxed, where the amount contributed monthly under General Provident Fund can be applied for tax exemption while submitting income tax proof.

Can I withdraw General Provident Fund balance before Retirement?

In case of any emergency or education loan, by providing a valuable reason, and the employees have the authority to withdraw three fourth or twelve months pay whichever is the lowest. This total should not cross the 90% limit which is to be maintained.

Can a Nominee Withdraw my General Provident Fund money during my Employment?

No, as the employee is still serving and has not met any causality, and the authority to withdraw the General Provident Fund amount will be only with the Employee, and the Nominee will be a dependent option in extreme cases.

What is the Interest Rate of GPF?

Interest rates are based central Government announcement, and it should as per the conditions, so you may check the required state or central departments as mentioned.

6 thoughts on “What is GPF & GPF Withdrawal is Taxable”

  1. I am govt employee my service is +10 years I have withdraw GPF now I refunded it from salary monthly instalment can GPF refunded exempt from tax section 80c

  2. I am central government employee, presently working. I have withdrawn Ra. 10Lakhs from my GPF account for educational purposes of my daughter. Is that amount is taxable and if not then exemption under which income tax clause. Please guide

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