Provident Fund Interest rates on General Provident Fund (Andhra Pradesh) for the subscribers of GPF and other similar funds at the rate of 7.1% (Seven point One percent) per annum with effect from 01.07.2021 to 30.09.2021 for the year 2021-22 Orders - Issued G.O.RT No. 1936 Dated: 29/09/2021
Gazette No. 627 Date Of Publication: 15/11/2021
Read the following:
1. G.O.RT No.1590, Finance (HR. III - Pension, GPF) Department, Dt.01.07.2021.
2. GOI Resolution F.No 5(4)-B(PD)/2021, Government of India. Ministry of Finance Department of Economic Affairs (Budget Division) 5th uly 2021.
ORDER:
NOTIFICATIONS BY CGOVERNMENT
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 interestion subscription to the General provident Fund in respect of Central Services
In the G.O. 1st read above, the State Government have adopted the rate of 7.1% per annum with effect from 01.04.2021 to 30.06.2021 during the 2020-21 on the following Provident Funds and other similar funds maintained 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 Fun
f. Andhra Pradesh Employees Welfare Fund Rules.
In the reference 2nd read above, the Government of India announced the General Provident Fund and other similar funds shall carry interest rate at 7.1% (Seven point one percent) w.e.f. 1 July, 2021 to 30th September, 2021. This rate will be in force w.e.f 1st July, 2021.
Government after careful examination of the matter hereby ordered to adopt the rate of interest at 7.1% (Seven point One percent) per annum for the period from 01.07.2021 to 30.09.2021 during the year 2021-22 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 Fun
f. Andhra Pradesh Employees Welfare Fund Rules.