Tuesday, 18 December 2018

GPF interest rate 7.6% for 01-07-2018 to 30- 09-2018 and 8% for 01-10-2018 to 31-12-2018 vide GO 171 Dt 18-12-2018

Interest applicable on GPF and other similar funds for the period 01-07-2018 to 31-12-2018 -Orders

According to Rule 13(1) of General Provident Fund (Telangana State) Rules, Government shall pay to the credit of the account of a subscriber interest at such rate as may be determined for each year according to the method of calculation prescribed from time to time by the Government of India for payment of interest on subscription to the General Provident Fund in respect of Central Services.
In the G.O.Rt.No.934, Fin (HRM.V) Dept., dated.09.05.2018, the State Government have adopted the interest rate of 7.6% per annum as ordered by the Government of India with effect from 01.04.2018 to 30.06.2018 during the year 2018 -2019.

In GOI, resolution No.F.No. 5 (1)-B(PD)/2018, Ministry of Finance, Department of Economic Affairs (Budget Division) dt:17/07/2018, GOI through their resolution dated: 17-07-2018 have announced that the rate of Interest on accumulations at the credit of subscribers to the GPF and other similar funds shall be 7.6% for the period 01-07-2018 to 30-09-2018.
GPF interest rate 7.6% for 01-07-2018 to 30- 09-2018 and 8% for 01-10-2018 to 31-12-2018 vide GO 171 Dt 18-12-2018

In the GOI, resolution No.F.No. 5 (1)-B(PD)/2018, Ministry of Finance, Department of Economic Affairs (Budget Division) dt:04/10/2018, the Government of India through their resolution No.F.No. 5 (1)-B(PD)/2018, Ministry of Finance Department of Economic Affairs (Budget Division), dt:04.10.2018 fixed the rate of interest for the subscribers of General Provided Fund (Central Services) at 8% per annum for the period from 01.10.2018 to 31.12.2018 during the year 2018– 19.
Government, after careful consideration of the matter, hereby adopt the rate of interest @ 7.6% per annum for the period from 01-07-2018 to 30-09-2018 and @ 8% per annum for the period from 01.10.2018 to 31.12.2018 during the year 2018 – 19 on the following Provident Funds on par with the rates of Government of India.
1) The General Provident Fund (Telangana State) Rules, 1935.
2) The Electricity Department Provident Fund Rules.
3) Emergency Cut and Compulsory Saving Rules, 1949.
4) Government Distilleries Employees Provident Fund.
5) Telangana State Government Life Insurance Fund.
6) Telangana State employees Welfare Fund Rules.


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