Posts Tagged ‘GPF Interest Rate’

Government Hikes GPF Interest Rate To 8% For October-December quarter

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Government Hikes GPF Interest Rate To 8% For October-December quarter.

The government has increased the rate of interest for General Provident Fund (GPF) and other related schemes by 0.4 percentage points to 8 per cent for the October-December quarter.

The rate is in line with that for Public Provident Fund.

The interest rate on GPF was 7.6 per cent for the July-September quarter of 2018-19.

“… during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8 per cent with effect from October 1, 2018, to December 31, 2018,” a Department of Economic Affairs’ notification said.

The interest rate would apply on Provident Funds of central government employees, railways and defence forces.

Last month, the government announced that the interest on small savings, including NSC and PPF, will be hiked by up to 0.4 percentage point for the October-December quarter, to align it with rising deposit rates in the banks.

PTI

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Be the first to comment - What do you think?  Posted by admin - October 17, 2018 at 9:13 pm

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GPF Interest rate from 1st April 2018 (7.6%)

GPF Interest rate from 1st April 2018 (7.6%)
(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(1)-B(PD)/2018
Government of India

 

Ministry of Finance
Department of Economic Affairs
(Budget Division)
New Delhi, the 11th April, 2018

 

RESOLUTION

It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six per cent) w.e.f. 1st April, 2018 to 30th June, 2018.

This rate will be in force w.e.f.1st April, 2018. The funds concerned are:—

1. The General Provident Fund (Central Services).

2. The Contributory Provident Fund (India).

3. The All India Services Provident Fund.

4. The State Railway Provident Fund.

5. The General Provident Fund (Defence Services).

6. The Indian Ordnance Department Provident Fund.

7. The Indian Ordnance Factories Workmen’s Provident Fund.

8. The Indian Naval Dockyard Workmen’s Provident Fund.

9. The Defence Services Officers Provident Fund.

10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

(Anjana Vashishtha)
Deputy Secretary (Budget)

Signed copy

Be the first to comment - What do you think?  Posted by admin - April 13, 2018 at 7:27 pm

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General Provident Fund Interest Rate for 1st April to 30th June 2017 – Finmin Orders

General Provident Fund Interest Rate for 1st April to 30th June 2017 – Finmin Orders

GPF Interest Rate for 1st April to 30th June 2017 – Finmin Orders

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F.NO. 5(1)-B(PD)/2017
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 18th April, 2017

RESOLUTION

It is announced for general information that during the year 2017-2018, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.9% (Seven point nine per cent) w.e.f. 1st April, 2017 to 30th June, 2017. This rate will be in force w.e.f. 1st April, 2017. The funds concerned are:

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.

2. Ordered that the Resolution be published in Gazette of India.

(Navin Agarwal)
Director

Authority : GPFResolution2017

Be the first to comment - What do you think?  Posted by admin - April 20, 2017 at 2:39 pm

Categories: Income Tax   Tags: , ,