GPF Interest Rate in Tamil Nadu: Between 1.4.2019 and 30.6.2019

GPF Interest Rate in Tamil Nadu – 1st April to 30 June 2019

During the period of 1st April 2019 to 30th June 2019, the Government Provident Fund (GPF) interest rate in Tamil Nadu was set at a percentage determined by the state government. This interest rate served as an incentive for employees to contribute to their retirement savings, with the funds being managed by the state government to ensure financial security for the future.

The esteemed Finance Department of the Indian state of Tamil Nadu recently released an important order that pertains to the calculation of interest rates associated with the General Provident Fund. Effective from 1st April 2019 and valid until 30th June 2019, this order will play a crucial role in determining the financial outcomes of this fund for its beneficiaries.

FINANCE [Allowances] DEPARTMENT
G.O.Ms.No.126, Dated 24thApril, 2019.
(Vikari, Chithirai-11, Thiruvalluvar Aandu 2050)

ABSTRACT

Provident Fund – General Provident Fund (Tamil Nadu) – Rate of interest for the financial year 2019-2020 – With effect from 1.04.2019 to 30.06.2019 – Orders – Issued.

Read the following:-
1. G.O.Ms.No.25, Finance (Allowances) Department, dated 21.01.2019.
2. From the Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division), New Delhi Resolution F.No.5(2)- B(PD)/2019, dated 3.04.2019. –

ORDER:

In the Government Order first read above, orders were issued regarding fixation of the rate of interest on the accumulation at the credit of the subscribers to General Provident Fund (Tamil Nadu) at 8% for the period from 1st January, 2019 to 31st March, 2019.

2. The Government of India, in its resolution second read above, announced that during the year 2019-2020, accumulation at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent) with effect from 1st April, 2019 to 30th June, 2019.

3. The Government now direct that the rate of interest on the accumulation at the credit of the subscribers to General Provident Fund (Tamil Nadu) shall carry interest at the rate of 8% (Eight percent) with effect from 1st April, 2019 to 30th June, 2019.

4. The rate of interest on belated final payment of Provident Fund accumulation remaining unpaid for more than three months of its becoming payable shall be at the same rates as ordered in para-3 above.

(BY ORDER OF THE GOVERNOR)
K. SHANMUGAM
ADDITIONAL CHIEF SECRETARY TO GOVERNMENT

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