New Delhi: The Narendra Modi authorities has determined to go away the General Provident Fund (GPF), interest charge unchanged at 7.1%
The Office Memorandum of the Department of Economic Affairs (Budget Division) has directed to state that in the course of the 12 months 2021-2022, accumulations at the credit score of subscribers to the General Provident Fund and other similar funds shall carry interest at the speed of seven.1% w.e.f. 1st April, 2021 to thirtieth June, 2021. This charge can be in power w.e.f. 1st April, 2021.
The funds involved 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.
Also, the deposits made underneath the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, introduced within the Ministry of Finance (Department of Economic Affairs), shall with impact from 1st April, 2021 to thirtieth June, 2021 bear interest at 7.1% . This charge can be in power w.e.f. 1st April, 2021.
#mute
