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 contributes 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.
-
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The amount in PF account can be withdrawn by the Employee on various occasions.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).
Rate of Interest on SRPF
Effective Dates
|
Interest Rates
|
01.04.2014
|
08.70%
|
01.04.2013
|
08.70%
|
01.04.2012
|
08.80%
|
01.04.2011
|
08.60%
|
01.04.2003
|
08.00%
|
01.04.2002
|
09.00%
|
01.04.2001
|
09.50%
|
01.04.2000
|
11.00%
|
01.04.1988
|
12.00%
|
01.04.1985
|
10.50%
|
01.04.1984
|
10.00%
|
01.04.1983
|
09.50%
|
01.04.1982
|
08.00%
|
Interest on PF is completely tax free.
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.
References
1. Railway Board letter No. F(E)III/2003/PF1/1 dated 25.04.2013(RBE 37/2013)
Provident Fund - Final Withdrawal
-
Final Withdrawal from Provident Fund is permitted only for Railway employees with 15 years service including broken periods.
On medical Grounds
-
Eligible for the employee himself or his/her family members, dependant person, minor brother, unmarried sister or widowed sister.
-
Amount – 3 months pay or 50% of amount at credit of the Railway employee whichever is less. The limit can be relaxed in special cases, but not to exceed 3/4th of credit.
Marriage/Betrothal
-
For Marriage/Betrothal of Railway employee or his children, dependant person, minor brother, unmarried sister or widowed sister.
-
Amount – 3 months pay in case of marriage/betrothal of male and 6 months in case of female. In special case it can be 6 and 10 months of pay respectively.
-
If amount at credit is less than Rs. 10000/-, 90% of amount is permissible.
-
In special case the 10 months limit may be relaxed keeping in view the status of the subscriber and amount at credit but in no cases more than 15 months.
-
Marriage and betrothal will be separate occasions for sanction of withdrawal.
Education
-
This advance is permitted for the education of dependant of a Railway staff beyond high school stage.
-
Withdrawal is permissible once in every 6 months or twice in a Financial year.
-
3 months emoluments for education abroad and 1 1/2 months emoluments for education in India (upto maximum 50% of amount at credit of the employee). This limit may be relaxed but not to exceed ¾ of the amount at credit.
House Building
-
Railway employees are permitted final withdrawal from Provident Fund for building/acquiring a house/flat for residential purposes including cost of site or for repayment of loan taken for this purpose.
-
Withdrawal amount shall not exceed the amount at the credit of the staff or actual cost of house including the cost of land/repayment of loan whichever is less.
-
In no case the sum withdrawn together with amount of advance taken from Ministry of Urban.
-
Development or assistance taken from government sources shall not exceed the maximum limit prescribed.
-
In case of construction of house withdrawal may be permitted in equal installments not less than two.
-
In case of co-operative societies withdrawal is permissible as and when demanded by the society.
Site of house
-
For purchasing a plot/site for construction of house one half the amount at credit or actual cost of house whichever is less.
-
Reconstruction/renovation/Alteration and upkeep of ancestral house or flat built/acquired at a place other than place of duty
-
Amount - The actual cost or Rs.10000/- whichever is less.
-
Second withdrawal is allowed provided total of both shall not exceed amount at credit at the time of first withdrawal.
Booking of Motor Car
-
Amount: Upto Rs.10000/- or 50% of amount at credit or actual cost of registration whichever is less. The amount of advance shall be taken into account for determining the overall ceiling for withdrawal.
Booking of Car/Motor Cycle/Scooter/Moped
-
Amount : Upto Rs.500/- or 50% of amount at credit or actual cost of registration whichever is less. The amount of advance shall be taken into account for determining the overall ceiling for withdrawal.
Purchase of Car
-
Amount: Upto Rs.110000/- . The amount of withdrawal plus withdrawal for booking should not exceed 50% of amount at creditor actual price of car whichever is less.
Repair to car
-
For overhauling of car once in the service of a Railway Employee.
-
The employee should have completed 28 years of service or has less than 3 years to attain superannuation.
-
Rs.10000 or 1/3rd of amount at credit or the actual cost of repair of the car whichever is less.
Acquisition of Farm Land/business premises.
-
Within 1 year of retirement.
-
Actual cost of land/premises.
Purchase of Consumer durables
-
For purchasing consumer durables like TV/VCR/VCP/Washing machine/Cooking Range/Geyser/Computer/Refrigerator.
-
Amount not exceeding 6 months pay of the railway staff or half the amount at credit.
Funeral Expense :
Railway Staff Provident Fund - Temporary withdrawal
-
Railway staff who is not eligible for final withdrawal can opt for temporary withdrawal from PF.
-
No advance shall not be granted until at least 50% of last advance has been repaid.
-
Amount of advance shall be such that after making all recoveries net amount payable is not less than 50% of Basic pay of the Railway staff concerned.
-
For Running staff Basic Pay + 30% will be taken for calculating the advance.
-
Permitted on following occasions:
On medical Grounds
-
Eligible for the employee himself or his/her family members, dependent person, minor brother, unmarried sister or widowed sister.
-
Amount – 3 months pay or 50% of amount at credit of the Railway employee whichever is less.
-
Recovery – Minimum 12 and Max 24 equal monthly installments.
Marriage/Betrothal
-
This advance is payable for Marriage/Betrothal of Railway employee or his children, dependent person, minor brother, unmarried sister or widowed sister.
-
Amount – 3 months pay in case of marriage/betrothal of male and 6 months in case of female. In special case it can be 6 and 10 months of pay respectively.
-
Recovery – 60 equal monthly installments.
-
If amount at credit is less than Rs. 10000/-, 90% of amount is permissible.
Education
-
This advance is permitted for the education of dependent of a Railway staff beyond high school stage.
-
Amount – Rs.1000/500 in case of Gazetted/non Gazetted Railway employee.
-
Recovery – 24 equal monthly installments.
-
The limit can be extended to 3 months emoluments for education abroad and 1 1/2 months emoluments for education in India.
Medical Treatment abroad
-
For an employee proceeding on leave out of India on medical condition or returning after such absence.
-
Amount – Actual cost of passage.
-
Recovery – 24 equal monthly installments.
House Building
-
This advance is given to a Railway employee to meet the cost of flat or construction of house for residence or to make any payment towards allotment of plot/flat by Housing Board/Housing Society.
-
Amount – 3 months emoluments or in special cases upto 6 months emoluments or half the amount at credit of the subscriber whichever is less.
-
Recovery – 60 equal monthly installments.
-
Opening of book stall by unemployed Graduate son/daughter of a Railway employee.
-
An advance of Rs.3000/- to be recovered in 24 equal monthly installments.
Opening of book stall by unemployed Graduate son/daughter of a Railway employee
-
An advance of Rs.3000/- to be recovered in 24 equal monthly installments.