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Thursday 18 January 2024

GPF ZPPF PF Interest Rates July 2023 to March 2024

GPF ZPPF PF Interest Rates July 2023 to March 2024 GPF ZPPF PF Similar Funds Interest rates from July 2023 to March 2024 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 01.07.2023 to 30.09.2023, 01.10.2023 to 31.12.2023 and 01.01.2024 to 31.03.2024 for the F.Y. 2023-24 Orders - Issued.


FINANCE (HR-III- Pension, GPF) DEPARTMENT G.O.Rt.No.22 Dated: 18-01-2024


Read the following:-


1. G.O.Rt.No.116, Finance (HR.III Dt.02/06/2023 Pension, GPF) Department,

2. Resolution F.No. 5(3)-B(PD)/2023, Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division), Dt:4th July, 2023.

3. Resolution F.No. 5(3)-B(PD)/2023, Government of India, Ministry of Finance, Department of Economic Affairs. (Budget Division), Dt:4th Octobar, 2023.

4. Resolution F.No. 5(3)-B(PD)/2023, Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division), Dt: 2nd January, 2024.


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.1 read above, the State Government have adopted the interest rate of 7.1% per annum with effect from 01.04.2023 to 30.06.2023 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) Rules1935

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 references 2d,3 & 4th read above, the Government of India announced that, during the year 2023-24, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1 July, 2023 to 30 September, 2023, 1 October 2023 to 31 December 2023 and 1 January 2024 to 31 March 2024. This rate will be in force w.e.f. 1 July, 2023.


Government after careful examination of the matter hereby order to adopt the rate of interest at 7.1% (Seven point One percent) per annum for the period from 1 July, 2023 to 30th September, 2023, 1 October 2023 to 31 December 2023 and 1 January 2024 to 31 March 2024 during the F.Y.2023- 24 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India. This rate will be in force w.e.f 1 July, 2023.

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.


Download PF Rates G.O.Rt. No. 22

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