GPF Interest Rate 8% from October 2018

GPF Interest Rate from October 2018 8% (Eight Percent)

 Interest rate for General Provident Fund has been increased to 8% from October 2018

[GPF Interest Rate Chart from 1960 – View Detailed Report]

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds w.e.f. 1st October, 2018 to 31st December 2018.

(PUBLISHED IN PART I SECTION I OF GAZETTE OF INDIA)

F.No.5(1)-B(PD)/2018 

Government of India 

Ministry of Finance 

Department of Economic Affairs

 (Budget Division)

New Delhi, the 04 October, 2018

RESOLUTION

It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 8% (Eight percent) w.e.f. 1st October 2018 to 31st December 2018. This rate will be in force w.e.f.1st October 2018. 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.

sd/- 

(Anjana Vashishha) 

Deputy Secretary 

(Budget)

Click to view order Engligh / Hindi

Source: https://dea.gov.in

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General Provident Fund Interest Rate from April to June 2018

General Provident Fund Interest Rate from April to June 2018

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds w.e.f. 1st April, 2018 to 30th June 2018

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA) 

F.NO. 5(1)-B(PD)/2018 

Government of India 

Ministry of Finance 

Department of Economic Affairs

 (Budget Division)

New Delhi, the 11th April, 2018

RESOLUTION

It is announced for general information that during the year 2018-2019, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six per cent) w.e.f. 1st April, 2018 to 30th June, 2018.

This rate will be in force w.e.f.1st April, 2018. 

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.

(Anjana Vashishtha) 

Deputy Secretary 

(Budget)

To view the official Resolution issued for announcing GPF Interest Rate from April to June 2018 , click the following link

View order

Authority: https://dea.gov.in/

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GPF Interest Rate from Jan 2018 to Mar 2018 – DEA Orders

GPF Interest Rate from Jan 2018 to Mar 2018 – Department of Economic Affairs (DEA) Orders

General Provident Fund (GPF) Interest Rate from January 2018 to March 2018

Resolution – accumulations at the credit of subscribers to the GPF and other similar funds – 2017, w.e.f. 1st January, 2018 to 31st March, 2018

(PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA)

F.NO. 5(1)-B(PD)/2017

Government of India 

Ministry of Finance 

Department of Economic Affairs 

(Budget Division)

New Delhi, the 1st January, 2018

RESOLUTION

It is announced for general information that during the year 2017-2018, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.6% (Seven point six per cent) w.e.f. 1st January, 2018 to 31st March, 2018. This rate will be in force w.e.f.1st January, 2018 . 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.

sd/-

(Anjana Vashishtha) 

Deputy Secretary (Budget)

Authority: www.dea.gov.in Click to original order

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Loans and Advances by the Central Government – Interest rates and other terms and conditions.

F.No.5(3) – B (PD)/2013 
Government of India 
Ministry of Finance 
Department of Economic Affairs

New Delhi, the 12^th November, 2013

OFFICE MEMORANDUM

Subject: Loans and Advances by the Central Government  – Interest rates and other terms and conditions.

   Reference this Ministry’s Office Memorandum F.No.5(3) – B (PD) 2012 dated 7^thJanuary, 2013 on the captioned subject.

   2. The lending rates prescribed in the aforesaid Office Memorandum have been reviewed. The revised rates of interest applicable from 1^st April, 2013 are given in the Table below:

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Resolution – accumulations at the credit of subscribers to the GPF and other similar funds – 2012-2013.

(PUBLISHED IN PART I SECTION OF GAZETTE OF INDIA)
F.No.5(1)-B(PD)/2013
Government of India
Ministry of Finance
(Department of Economic affairs)

New Delhi, the 8th April, 2013

RESOLUTION

   It is announced for general information 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.

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Interest rates on post office savings schemes go up

   In a bid to lure millions of small savers across the country who had exited the National Small Savings (NSS) schemes in pursuit of higher returns, the Union Government on Friday raised the interest rates on Post Office Savings Account (POSA), Time Deposit Schemes of various tenures, Monthly Income Scheme (MIS) and Public Provident Fund (PPF).

To be notified soon

   According to a Union Finance Ministry statement, the interest rate on POSA stands increased to 4 per cent from 3.5 per cent for the current fiscal while deposits in schemes such as MIS and PPF will fetch attractive returns of 8.2 per cent and 8.6 per cent respectively, as compared to the existing rates of 8 per cent.While all time maturities will fetch significantly better returns by way of higher interest rates than hitherto, the biggest gainer is set to be the one-year fixed deposit scheme with its interest rate pegged at 7.7 per cent as compared to the prevailing 6.25 per cent.

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EPFO decided 9.5 pc interest on PF and not to invest in stock markets

EPFO for 9.5 pc interest on PF; not to invest in bourses

The EPFO on Tuesday stuck to its decision that about 4.71 crore subscribers of the pension fund should get one per cent increase in interest on their deposits for 2010-11, pegging the rate of interest at 9.5 per cent.

The Central Board of Trustees of the Employees Provident Fund Organisation (EPFO) also decided not to invest in stock markets.

After a two-hour meeting of the CBT, Labour and Employment Minister Mallikarjun Kharge expressed hope the finance ministry will shortly give its concurrence to the proposal.

"I hope that after we answered all clarifications, they (Finance Ministry) will approve it (9.5 per cent interest rate for 2010-11)," he told reporters on the finance ministry's reservation on 9.5 per cent recommended by the Central Board of Trustees of Employees Provident Fund Organisation (EPFO) in September last.

"As far as 9.5 per cent interest (2010-11) is concerned, the Finance Ministry had sought some clarifications. Those clarifications have been sent by Labour Secretary to the Finance Ministry," Kharge added.

Downplaying the ongoing tussle between the two ministries over hiking the interest rates on PF deposits, Kharge said there was "no tussle between the two ministries over giving 9.5 per cent interest rate."

"These are just consultations between the two ministries. They had certain queries and when we satisfy them. They will definitely approve it," Labour Secretary P C Chaturvedi later explained.

Although CBT, which is headed by labour minister, had decided to give a higher return of 9.5 per cent on provident fund deposits for 2010-11, the Finance Ministry had expressed its opposition to the move.

Following discovery of Rs 1,731.57 crore in suspense account, the EPFO trustees favoured raising the rate of interest on provident fund deposits to 9.5 per cent for its 4.71 crore subscribers from 8.5 per cent which is being paid by EPFO since 2005-06.

The decision, however, did not find favour with the Finance Ministry which argued that there was no real surplus.

It said the surplus shown by the EPFO arose because all subscribers' accounts were not updated.

In a recent letter of 29th January, the Labour Ministry argued the EPFO is not asking for any government support for the extra returns to the salaried workers.

It is their money which has earned returns.

The Finance Ministry's objections were based on a report by Comptroller and Auditor General which suggested that there was no surplus with the EFFO's interest suspense account.

Source: DDI News

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