Interest rate on General Provident Fund (GPF) is lowered from 8.8% to 8.7%.
As per the Finance Ministry resolution published today, Central Government employees will get less interest from the General Provident Fund (GPF), the new rate of interest will be 8.7% for the current financial year of 2013-14.
The order said that ‘during the year 2013-2014, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8.7% (Eight point seven per cent) per annum.
This rates will be in force during the financial year beginning on 1.4.2013’.
The funds concerned are :-
1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund.
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.