GPF-AP: Interest
Rates @ 7.1% Per Annum w.e.f. 01.04.2024 to 30.06.2024 – G.O. Released
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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 01.04.2024 to 30.06.2024 for the F.Y. 2024-2025-Orders
- Issued.
FINANCE
(HR-III- Pension, GPF) DEPARTMENT
G.O.Rt.
No. 186, Dated: 28/06/2024
Read the
following:
1.
G.O.Rt.No.22, Finance (HR.III - Pension, GPF) Department, Dt.18/01/2024
2.
Resolution F.No. 5(4)-B(PD)/2023, Government of India, Ministry of Finance,
Department of Economic Affairs (Budget Division), Dt:10th June, 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.
2. In the
G.0.1" read above, the State Government have adopted the interest rate of
7.1% per annum with effect from 01.07.2023 to 30.03.2023, 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.
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.
3. In the
reference 2nd read above, the Government of India announced that, during the year
2024-25, 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. 1st April, 2024 to 30th June, 2024. This rate will be
in force w.e.f 1st April, 2024.
4.
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 1st April, 2024 to 30th June, 2024 during the F.Y.2024-25 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 1st April, 2024.
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.
5.This
order is available online and can be accessed at http://apegazette.cgg.gov.in
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