GPF deduction under tax conditionally

वित्त विभाग द्वारा जारी हिदायतों अनुसार अब किसी भी कर्मचारी के एक वित्त वर्ष में PF(GPF) में पांच लाख से ज्यादा जमा नहीं होंगे । अगर किसी के पहले ही पांच लाख जमा हो चुके हैं तो चालू वित्त वर्ष की शेष अवधि में अब उस कर्मचारी की कोई कटौती नहीं की जाएगी व उक्त कर्मचारी को 8 फीसदी कटौती की अनिवार्य कटौती में Relaxation दी जाएगी ।

पांच लाख से ऊपर राशि का ब्याज एक टैक्सेबल इनकम है जो चालू वर्ष और आगामी वर्षों में भी टैक्सेबल ही रहेगा ।

Government of Haryana Finance Department

हरियाणा सरकार वित्त विभाग

No.11/150/2022-1FR 25259

To

1. The Chief Secretary to Govt. Haryana.

2. All the Administrative Secretaries to Govt. Haryana

3. All Head of Deparments. 4. The Registrar General, Punjab and Haryana High Court Chandigarh

5. All the Commissioners of Divisions, Ambala, Karnal, Faridabad, Gurguram, Hisar

and Rohtak

6. All Deputy Commissioner and Sub Divisional Officers (Civil) ir Haryana

Dated: 08.02.2023

Ceiling of Rs.Five Lakh on subscription to General Provident Fund in a Financial

Year-instructions regarding.

Subject:

Sir/Madam,

I have been directed to invite your attention to the Gazette Notification of Govt. of India, Ministry of Personnel, Public Grievances and Pensions (Deptt. of Pension & Pensioners' Welfare) bearing No. G.S.R.36, dated 15.6.2022 vide which an anrual ceiling of Rs. Five Lakh only (including monthly subscriptions and arrears of subscriptions, if any) has been fixed for the total amount of subscription in a financial year on General Providen: Fund for Certral Government employees and the General Provident Fund (Central Services) Rules, 1960 have been accordingly amended. This ceiling has been fixed/GPF Rules have been so amended follow ng an amendment dated 31.8.2021 having been made by the Govt. of India in the Income Tax Rules, 1962 vide which annual ceiling of Rs. Five. Lakh ony (monthly subscription and arrears of subscription, if any) has been fixed for total subscription on GPF and other recognized Providert Funcs for earning non-taxable interest. The purpose of this amendment is that the interest accrued on the subscription beyond Rs. Five Lakh only shall be chargeable to Income Tax

In view of the above, the ex sting Rule 22 of HCS (GPF) Rules, 2016 which deals with the "ate/ceiling of subscription is recuired to be amended accordingly for which requisite process has already been undertaken. Since, the amendment as such shall take its cwn time in due course and the current financial year 2022-23 is rearing its end, therefore, in order to comply with the inherent provision in the remaining part of current financial year 2022-23, it has been decided as under:-

0

There may be chances that some employees might have crossed the proposed ceiling of

Rs. Five Lakh only during currert financial year. In these cases, no further subscription

to their respective GPFS shall be made by the respective DDOS in the remaining pay months of current financial year 2022-23. In such cases, the minimum subscription of 8% of basic pay, as per Rule 22 ibid snall be deemed to have been relaxed. In the cases of all other employees, it will be ensured by the respective DDOS that their total annual subscription should not exceed Rs. Five Lakh in the current financial year

2022-23. In such cases, the minimum subscription of 8% of basic pay, as per Rule 22

ibid shall be deemed to have been relaxed.

Olo Pr. AG (A&E), Haryana as well as NIC (HRMS/e-salary) will do necessary updation

in the relevant software accordingly.

"CONSERVE WATER-SAVE LIFE"

Government of Haryana Finance Department

2132

हरियाणा सरकार वित्त विभाग

A copy each of Gazette Notification bearing No. G.S.R. 604(E), dated 31.8.2021 issued by the Ministry of Finance (Deptt. of Revenue/Central Board of Direct Taxes) and Gazette Notification bearing No. 96. dated, 15.6.2022 issued by the Ministry of Personnel, Public Grievances and Pensions (Deptt. of Pension and Pensioners' Welfare) and subsequent OMs/Clarifications bearing No. 3/6/2021- P&W(F), dated 11.10.2022 and No.3/13/2022-P&PW(F) (8353) dated 02.11.2022 issued on this subject is attached nerein for ready reference.

Copy of this order may be downloaded from the official website of the Finance

Department Le. www.finhry.gov.in

Special Secretary Finance