Law of Services—-contribution Towards Gpf/cpf
Law of services——Contribution towards GPF/CPF
Every employee must contribute towards General Provident Fund so that some amount count be available to him and to his family at the time of retirement or at the time of death of the employee. The amount so deducted from his pay shall be earning good interest and at times the employee is entitled to have some advances, refundable or non-refundable to meet his obligations. Similarly where pension is not given against service, but they give pension out of the Contributory Fund one is paying something in this fund and the employer also contributes equally and this amount is available for the employee and he gets pension and after his death, his family starts getting pension.
The employee must be contributing and at the same time he should maintain his accounts with him so that when he receives his annual accounts slip, he should tally the same with the accounts he is maintaining. The accounts slip shall be showing opening amount, amount contributed during the year, the amount of interest added, the amount withdrawn as advances during the year and amount recovered against these advances during the year and the balance. If there is something wrong, it is the duty of the employee to furnish true account duly verified by the Drawing and Disbursing Officer and get the mistake correct so that there should be no mistakes when he is receiving his final amounts.
This is not like an ordinary bank account. The employees can get some advances for specified purposes and even then there is not a normal withdrawal from the accounts. The employee has to submit his application for such advances, giving reasons for which he is in need of money and that reason is approved under the rules and only then the competent authority shall be considering the case on merits and if need be, he shall be passing an order of payment and only then the amount shall be withdrawn from the account. We are calling these amounts as provident funds which means it is for the provisions in old life and not otherwise. The advances are given only rarely.
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Dalip Singh Wasan