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Friday, August 23, 2019

Interest rates on General Provident Fund

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Interest rates on General Provident Fund (Andhra Pradesh) for the subscribers of GPF and other similar funds at 7.9%(Seven points nine percent) per annum with effect from 01.07.2019 to 30.09.2019 for the year 2019-20 – Orders-Issued.
Interest-rates-on-General-Provident Fund
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.O.1stread above, the State Government have adopted the interest rate of 8% per annum with effect from 01.04.2019 to 30.06.2019, as ordered by the Government of India.

3. In the reference 2nd read above, the Government of India through resolution No. F.No.5(2)-B(PD)/2019, Dated.12.07.2019 announced the interest for the subscribers of General Provident Fund (Central Services) at 7.9% per annum for the period from 01.07.2019 to 30.09.2019 during the
financial year 2019-20.

4. Government after careful examination of the matter, hereby ordered to revise the rate of interest at 7.9% per annum for the period from 01.07.2019 to 30.09.2019 during the year 2019-20 on the following Provident Funds and other similar funds maintained by the Government of Andhra Pradesh on par with rates of Government of India.


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Janardhan Randhi

About Janardhan Randhi

I’m the Founder of quickdevops.com I am a Professional Blogger, Application developer,YouTuber. I’ve been blogging since 2015.I spend a lot of time learning new techniques and actively help other people learn web development through a variety of help groups and writing web development tutorials for my website and blog about advancements in web design and development.Besides programming I love spending time with friends and family and can often be found together going out catching the latest movie,planning a trip to someplace I've never been before.

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