Department of Economic Affairs has published a resolution declaring the GPF Interest at the rate of 7.1 Percent from 1st April 2020. The General Provident Fund and other similar funds shall carry this interest rate up to 30th June, 2020.
(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi, the 7th April, 2020
It is announced for general information that during the year 2020-2021, accumulations at the credit of subscribers to the GPF and other similar funds shall carry interest at the rate of 7.1 Percent (Seven point one percent) w.e.f. 1st April, 2020 to 30th June, 2020. This rate will be in force w.e.f. 1st April,2020. The funds concerned are:
- The General Provident Fund (Central Services).
- The Contributory Provident Fund (India).
- The All India Services Provident Fund.
- The State Railway Provident Fund.
- The General Provident Fund (Defence Services).
- The Indian Ordnance Department Provident Fund.
- The Indian Ordnance Factories Workmen’s Provident Fund.
- The Indian Naval Dockyard Workmen’s Provident Fund.
- The Defence Services Officers Provident Fund.
- The Armed Forces Personnel Provident Fund.
- Ordered that the Resolution be published in Gazette of India.
Source: Ministry of Finance