GPF Interest Rate from July to September 2020 is declared as 7.1%
The Department of Economic Affairs published a resolution of an interest rate for the General Provident Fund. This quarter all Central Government employees will get 7.1% interest in GPF. The resolution also said the new revised rate of interest will be calculated between the period of July to Septemeber 2020.
(TO BE PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)
F. NO. 5(2)-B(PD)/2020
Ministry of Finance
Department of Economic Affairs
New Delhi, the 13th July 2020
It is announced for general information that during the year 2020-2021, 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 points one percent) w.e.f. 1st July 2020 to 30th September 2020. This rate will be in force w.e.f. 1st July 2020. 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.
2. Ordered that the Resolution be published in Gazette of India.