GOVERNMENT OF ANDHRA PRADESH
Provident Fund-General Provident Fund (Andhra Pradesh)- Rate of interest for the subscribers of GPF and other similar funds as 8.0% (Eight point one percent) per annum with effect from 01.10.2016 to 31.12.2016 for the year 2016-17-Issued.
FINANCE (HR-5-Pension, GPF) DEPARTMENT
G.O.RT.No. 72 Dated: 16-01-2017
Read the following:-
1.G.O.Rt.No.2142,Finance(Pen.II)Department, dated 30.04.2013
2.G.O.Rt.No. 1638, Finance(HR-5- Pension,GPF) Department,dated 27.06.2016
3.GOI, Resolution No.F.No.5(1)- B(PD)/2016,Ministry of Finance,Department of Economic Affairs (Budget Division),dt.30.06.2016
4.GOI, Resolution No.F.No.5(1)- B(PD)/2016,Ministry of Finance,Department of Economic Affairs (Budget Division),dt.30.10.2016
5.Lr.No.FM/Gl.II/9-3/2016-17/3357 of O/o the Prl.AccountnatGeneral (A&E), Andhra Pradesh, Hyderabad, Dt:22.12.2016.
According to Rule 13(1) of General Provident Fund (Andhra Pradesh) Rules 1935, 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.
2. In the G.O.2nd read above, the State Government have adopted the interest rate of 8.1% per annum with effect from 01.04.2016 to 30.06.2016 as ordered by the Government of India.
3. In the reference 3rd read above, GOI informed that the interest at the rate of 8.1% will be in force w.e.f. 1.7.2016 to 30.9.2016. As such the rate of interest as 8.1% ordered in GO 2nd read above shall continue w.e.f.1.7.2016 to 30.9.2016.
4. In the reference 4th read above, the Government of India through its resolution No. F.No.5(1)- B(PD)/2016, Dt: 03.10.2016 fixed the rates of interest for the subscribers of General Provident Fund(Central Services) at 8% per annum for the period from 01.10.2016 to 31.12.2016 during the year 2016-17.
5. The Deputy Accountant General (Funds), in his letter 5th read above has requested to issue necessary Government Orders duly revising the rates of interest on GPF and other similar funds etc., maintained in the State for the year 2016-17.
6. Government after careful examination of the matter,hereby adopt the rate of interest as 8.0% per annum w.e.f 01.10.2016 to 31.12.2016 during the year 2016-17 on the following Provident Funds
and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India.
1. The General Provident Fund(Andhra Pradesh) Rules 1935
2. The Electricity Department Provident Fund Rules.
3. Emergency Cut and Compulsory Saving Rules,1949.
4. Government Distilleries Employees Provident Fund
5. Andhra Pradesh Government Life Insurance Fund.
6. Andhra Pradesh Employees Welfare Fund Rules.
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