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Wednesday 17 May 2017

G.O.RT.No.1171-Provident Fund-Interest rates for the subscribers of GPF and other similar funds as 7.9% per annum for the year 2017-18

FINANCE (HR-5-Pension, GPF) Department
G.O.RT.No. 1171 Dated: 17-05-20 17 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 277.06.2016
  3. G.O.Rt.No.72,Finance(HR-5-Pension,GPF)Department, dated 166.01.2017
  4. G.O.Rt.No.318,Finance(HR.5 Pension,GPF)Department Dt.22.2.2017
  5. GOI, Resolution No.F.No.5(1)-B(PDD)/2017, Ministry of Finance, Department of Economic Affairs (Budget Division), dt.18.4.2017
  6. From PA(A&E) letter No.F.M./Gl.II/9-33/2017-18/110, dated
20.04.20 17.       
  According to Rule 13(1) of General Provident Fund (Andhra Pradesh) Rules 1935, Government shall pay to the credit t of the account of a subscriber interest at such rate as may be determined for each year according to t he method of calculation prescribed from time to t time by Government of India for payment of interest on subscription to the General provident Fund in respect of Central Services.

2. In the G.O 4th read above, the State Government have adopted t he interest rate of 8%% per annum with effect from 01.01.2017 to 31.03.2017, as ordered by the Government of India.

3. In the reference 5th read above, the Government of India through its resolution No.F.No.5(1)-B(PD)/2017, dated 18.004.2017 announced the interest for the subscribers of General Provident Fund ( Central Services) at 7.9 %  per annum for the period from 01.04.2017 to 30.066.2017 during the year 2017-118.

4. Government after careful examination of the matter, hereby order to adopt & revision the rate of interest as 7.9 % per annum for the period from 01.04.2017 to 30..06.2017 during the year 201 7-18 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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