Railway staff Provident Fund Rules
- For Railway employees who are posted on or after 01.01.2004 Provident Fund rules are not applicable.
- Railway employee contribute 8.5% of Pay + GP to State Railway Provident Fund Account.
- The account is maintained by Accounts Department. Each PF account is allotted a specific number.
- Voluntary Contribution to PF (VPF) can be made from the salary of a Railway staff subject to the maximum limit that the amount should not be more than the amount remaining after recoveries.
- VPF amount may be reduced once a year and may be enhanced twice a year.
- Rate of interest – 8%
- Each account holder is given a statement indicating balance at the beginning of the year, his contributions, interest, withdrawal etc.
- Nomination – Every Railway employee should make a nomination at his discretion for distributing amount at his credit. Nomination may be canceled or modified at any time.
- Competent authority sanctioning part/final withdrawal of PF may sanction upto 90% of the amount at credit in case applied within 12 months of(before) retirement/superannuation without assigning any reason.
- Marriage advance shall be permitted within 3 months earlier to the date of marriage. The railway staff shall furnish a certificate that the money has been utilized for the purpose for which it has been drawn within one month of marriage.
- The amount in PF account can be withdrawn by the Employee on various occasions. It can be Temporary(to be recovered later in installments) or final(no recovery.
Competent authority to sanction withdrawal
- GM in case of officers in Zonal Railway/Production Units. CPO may exercise the power in respect of Gazetted officers.
- Sr. Scale/Assistant/Group B officers in respect of Group C employees.
- Assistant officer/Group B officers/APO in respect of Group D Railway staff.