Para 6.2 — CAM
Original Rule Text
15. Details of GPF accounts without having nominations to be track out and the matter may take up with Head of Office to obtain the nomination by GP subscribers as per Para 6.2 of the CAM.
16. Reconciliation of closing balance of GPF ledger for the previous financial year with the opening balance of current financial year.
17. The work relating to GPF should be processed through the GPF module of PFMS by PAO, where PFMS is implemented, and check each entry properly.
18. The year-end total booking under head of GPF account should be tallied in credit side with total GPF credit received through salary or Challan, transfer in amount and amount credited as interest and debit should tally with total advance/withdrawal of GPF, amount of final GPF payment and amount of transfer out of GPF cases.
What This Means
This para outlines key operational responsibilities for GPF account management. PAOs must track all GPF accounts that lack nominations and follow up with Heads of Office to obtain nominations from subscribers as per Para 6.2 of CAM. At year-end, the closing balance of the GPF ledger for the previous financial year must be reconciled with the opening balance of the current year. GPF work should be processed through the GPF module of PFMS wherever implemented, with each entry properly checked. The year-end total booking under the GPF head must be tallied: credits (subscriptions from salary/challans, transfers in, interest credited) should match the credit side, and debits (advances, withdrawals, final payments, transfers out) should match the debit side.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Key Points
- 1All GPF accounts without nominations must be tracked and followed up with Heads of Office
- 2Closing balances of GPF ledger must be reconciled with opening balances at the start of each new year
- 3GPF work should be processed through the GPF module of PFMS where available
- 4Year-end credit side must tally: salary subscriptions + challan subscriptions + transfers in + interest
- 5Year-end debit side must tally: advances + withdrawals + final payments + transfers out
Practical Example
A PAO managing GPF accounts for a Ministry runs a report from PFMS showing 85 subscriber accounts without nominations. She sends a list to each Head of Office asking them to ensure all employees submit their GPF nomination forms within 30 days. At year-end, she reconciles the GPF ledger: total credits (Rs 5 crore from salary deductions + Rs 20 lakh from challans + Rs 10 lakh transfers in + Rs 45 lakh interest) must equal the credit side in the compiled account. Similarly, total debits (Rs 3 crore advances + Rs 1 crore withdrawals + Rs 50 lakh final payments + Rs 15 lakh transfers out) must equal the debit side. Any mismatch triggers immediate investigation.
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.
Frequently Asked Questions
Why are GPF nominations important?▼
What does year-end GPF reconciliation involve?▼
Should GPF work be done manually or on PFMS?▼
This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.