Para 12.31 — MSO (A&E)

12.31 On the permanent transfer of a subscriber from one Government to another, the Provident Fund balance at his credit is required to be transferred to the Accounts Officer of the latter Government, along with a copy of his

Ledger Account together with the declaration form in original.

The insurance policy or policies if any should be reassigned and returned to the subscriber under intimation to the Accounts Officer to enable the former to execute a fresh assignment in favour of the Governor of the State; with an advice. Any sum withdrawn under the Fund rules and which remains to be recovered should also be communicated.

On the Central side, the need for the transfer of G.P.F. balance from one PAO to another in respect of an account arises consequent on transfer of the subscriber from one Department to another. Such transfer would not be accompanied by the original ledger card/folio maintained by PAO. An extract of such Ledger Card with other detail need be sent.

NOTE:- When a subscriber is transferred permanently from one Government to another the interest transferred by the transferring Government should be adjusted in the accounts of the transferring Government, be debit to '2049 Interest payments on Small Saving Provident Fund etc.' in the accounts of receiving Government the credit should be kept under the Minor Head "Interest Suspense" pending clearance at the close of the year. In the event of such Fund Account being closed before the end of the year, the head "Interest Suspense" will be cleared by per contra credit to the Fund Account of the subscriber before making actual payment. Clearance of the balances under the Minor Head "Interest Suspense" should be watched through a Broad-sheet maintained in Form No.51.

# COMPILATION OF PROVIDENT FUND ACCOUNTS BY THE MACHINE METHOD-LEDGER CARDS

What This Means

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Key Points

• 1Full PF balance transferred to the new government's Accounts Officer on permanent transfer
• 2Ledger account copy and original declaration/nomination form accompany the transfer
• 3Insurance policies are reassigned and returned to the subscriber for fresh assignment
• 4Outstanding advance recoveries must be communicated to the receiving AG
• 5Transferred interest is credited to 'Interest Suspense' in the receiving government's books
• 6Interest Suspense is cleared at year-end or earlier if the account closes
• 7Central PAO transfers send a ledger card extract, not the original

Practical Example

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.

Frequently Asked Questions

This explanation was generated with AI assistance for educational purposes. Always refer to the official gazette notification for authoritative text.