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================ Blog maintained by : P. Radhamohan Nair, Private Secretary to Post Master General, (Retired) Northern Region, Calicut, Kerala Circle=================

Thursday, April 13, 2017

No documentary proof is required for getting advance or withdrawal from General Provident Fund (GPF)

No documentary proof is required for getting advance or withdrawal from General Provident Fund (GPF), Union Minister Jitendra Singh today said. 
The government has with effect from March 7, 2017, simplified and liberalised the conditions for taking advance from the fund for education, illness and purchase of consumer durables. 
"Conditions and procedures for withdrawal from the fund for the purpose of education, illness, housing, purchase of motor vehicles etc. have also been liberalised. 
"No documentary proof is required to be submitted now for advance and withdrawal applications. A simple declaration by the subscriber is sufficient," the minister said in a written reply to Lok Sabha. 
A time limit for sanction and payment of advance or withdrawal has also been fixed, said Singh, the Minister of State for Personnel. 
He said there is no proposal under consideration of the government to increase/link the rate of interest on GPF at parity with that of Employees' Provident Fund (EPF). 
"The interest rates on EPF are decided on the recommendations of the Central Board of Trustees taking into account the yearly income from the investment made by EPFO. The GPF interest rate is presently fixed at par with that of PPF interest rate," said Singh.
Source:-The Economic Times

Your Bank , other financial accounts may be blocked if you dont link them with Aadhar by 30 th April

Accounts opened from July 2014 to August, 2015 will have to submit know your customer (KYC) details and their Aadhaar number to banks and financial institutions by April 30 and self-certify them to comply with FATCA regulations (Foreign Tax Compliance Act), the tax department said on Tuesday. 
 
In case the account holders are unable to furnish details and provide self-certification by the new deadline, banks and financial institutions have the option of blocking the accounts. 
Once the details are furnished they can operate the accounts. The provision applies to accounts which come under the ambit of FATCA regulations. 
Banks and financial institutions were asked to obtain self-certification and carry out due diligence for all individual and entity accounts opened from July 1, 2014 to August 31, 2015 to comply with the Foreign Account Tax Compliance Act (FATCA) pact signed by India and the United States. 
In July 2015, India and the US signed a tax information sharing agreement under a new US law, FATCA, aimed at bolstering efforts for automatic exchange of financial information between the two nations about tax evaders. 
"The account holders may be informed that, in case self-certifications are not provided till April 30, 2017, the accounts would be blocked, which would mean that the financial institution would prohibit the account holder from effecting any transaction with respect to such accounts," the tax department said in a statement. 
Tax officials said that the accounts would include banks, insurance, stocks. Account holders will also have to mention their Aadhaar numbers.
Source:-The Economic Times

LTC Travel by Air India

Press Information Bureau 
Government of India
Ministry of Personnel, Public Grievances & Pensions
12-April-2017 16:38 IST

LTC Travel by Air India 
As per instant instructions, the Leave Travel Concession (LTC) is applicable for travel by Air India and in Economy class only. However, relaxation has been given to travel by private airlines to visit Jammu & Kashmir with certain conditions. 

This was stated by the Minister of State in the Ministry of Personnel, Public Grievances and Pensions and Minister of State in the Prime Minister's Office, Dr. Jitendra Singh in a written reply to question by Shri Sharad Tripathi in the Lok Sabha today.
 

VACANCIES IN POST OFFICES -- LS Q & A


INTERNET FACILITY IN POST OFFICES -- LS Q & A

GUIDELINES FOR FILLING OF VACANCIES -- LS Q & A

GUIDELINES FOR FILLING OF VACANCIES -- LS Q & A

GPF Rules

Press Information Bureau 
Government of India
Ministry of Personnel, Public Grievances & Pensions
12-April-2017 16:39 IST


GPF Rules 
With effect from 7th March 2017, Government has simplified and liberalised the conditions for taking advance from the fund by the subscribers for education, illness, purchase of consumer durables. Conditions and procedures for withdrawal from the fund for the purpose of education, illness, housing, purchase of motor vehicles etc. have also been liberalised. No documentary proof is required to be submitted now for advance and withdrawal applications. A simple declaration by the subscriber is sufficient. A time limit for sanction and payment of advance/withdrawal has also been fixed. 

There is no proposal under consideration of Government to increase/link the rate of interest on GPF at parity with that of EPF. The interest rates on EPF are decided on the recommendations of the Central Board of Trustee (EPF) taking into account the yearly income from the investment made by EPFO. The GPF interest rate is presently fixed at par with that of PPF interest rate.
 

This was stated by the Minister of State in the Ministry of Personnel, Public Grievances and Pensions and Minister of State in the Prime Minister's Office, Dr. Jitendra Singh in a written reply to question by Dr. Sunil Baliram Gaikwad, Kunwar Haribansh Singh, Shri T. Radhakrishnan, Shri Gajanan Kirtikar and Shri Bidyut Baran Mahato in the Lok Sabha today.