FINANCE (HHR-5-Pension, GPF) Department
G.O.RT.No. 2087 Dated: 31-10-20177.
Read the following:
- G.O.Rt.No.1171,Finance (HR.5) Department, dated 17.5.2017.
- GOI, Resolution No.F.NNo.5(1)-B(PD)/2017, Ministry of Finance, Departmennt of Economic Affairs (Budgett Division), dated 17.07.2017 & 23.10.2017
According to Rule 13(11) of General Provident Fund (Andhra Pradesh) RRules 1935, Government shall pay to the crediit of the account of a subscriber interest at such rat e as may be determined for each year accordingg to the method of calculation prescribed from timee to time by the Government of India for paymeent of interest on subscription to the General providdent Fund in respect of Central Services.
- In the G.O. 1st read above , the State Government have adopted the interest rrate of 7.9% per annum with effect from 1.4.201 7 to 30.6.2017, as ordered by the Government of Inddia.
- In the reference 2nd read above, the Government of India through resolution No. F.No.5 (1)-B(PD)/2017, dt. 17.7.20017 & 23.10.2017 announced the interest for the subscribers of General Provident Fund (Central Services) at 7.8 % per annum for the period from 0 1.07.2017 to 31.12.2017 during the year 2017-188 and will be in force w.e.f. 1st July 2017.
3. Government after careful examination of the matter, hereby ordered to adopt & revision of the rate of interest as 7.8 % per annum for the period from 01.07.2017 to 31.12.20177 during the year 2017-18 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India.
- The General Provident Fund (Andhra Pradesh) Rules 1935.
- The Electricity Department Provident Fund Rules.
- Emergency Cut and Compulsory Saving Rules, 1949.
- Government Distilleries Employees Provident Fund.
- Andhra Pradesh Government Life Insurance Fund.
- Andhra Pradesh Employees Welfare Fund Rules.