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GPF | ZPPF | PF Similar Funds Interest rates from Jan 2020 to March 2020 G.O.RT.No. 1689

Provident Fund - Interest rates

Provident Fund - Interest rates on General Provident Fund (Andhra Pradesh) for the subscribers of GPF and other similar funds at the rate of 7.9% (Seven point Nine percent) per annum with effect from 01.01.2020 to 31.03.2020 for the year 2019-20 - Orders - Issued G.O.RT.No. 1689 Dated: 22-06-2020

Read the following:
1. G.O.Rt.No.2134, Finance (HR.II Pension) Department, Dt.01.05.2019.
2. GOI. Resolution F. No. 5(2)-B(PD)/2019, Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division), Dt. 15.01.2020

ORDER:

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.

  In the G.O.1st read above, the State Government have adopted the interest rate of 7.9% per annum with effect from 01102019 to 31122019 during the year 2019-20 on the following Provident Funds and other similar funds maintained by the Government Andhra Pradesh on par with rates of Government of India.

a. The General Provident Fund (Andhra Pradesh) Rules 1935
b. The Electricity Department Provident Fund Rules.
c. Emergency Cut and Compulsory Saving Rules, 1949.
d. Government Distilleries Employees Provident Fund
e. Andhra Pradesh Government Life Insurance Fund.
f. Andhra Pradesh Employees Welfare Fund Rules.

In the reference 2 read above, the Government of India announced interest rate at 7.9% per annum for the period from 01.01.2020 to 31.03.2020 on these provident funds.

Government after careful examination of the matter hereby ordered to continue the rate of interest at 7.9% per annum for the period from 01.01.2020 to 31.03.2020 during the year 2019-20 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India.

a. The General Provident Fund (Andhra Pradesh) Rules 1935
b. The Electricity Department Provident Fund Rules.
c. Emergency Cut and Compulsory Saving Rules, 1949.
d. Government Distilleries Employees Provident Fund
e. Andhra Pradesh Government Life Insurance Fund.
f. Andhra Pradesh Employees Welfare Fund Rules.

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