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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 7.9% (Seven points nine percent) per annum with effect from 01.10.2019 to 31.12.2019 for the year 2019-20 – Orders - Issued.
Provident Fund GPF/ZPPF Interest rates from October 2019 to December 2019 for the year 2019-20
Read the following:-
1. G.O.Rt.No.950, Finance (HR.IV) Department, Dt.01.05.2019
2. G.O.Rt.No.1319, Finance (HR.IV) Department, Dt.20.08.2019
3. GOI, Resolution F. No. 5(2)-B(PD)/2019, Ministry of Finance, Department of Economic Affairs (Budget Division), Dt.21.102019.
ORDER:
1. 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.1st read above, the State Government have adopted the interest rate of 8% per annum with effect from 01.04.2019 to 30.06.2019, and in the reference, 2nd read above, adopted the interest rate of 7.9% per annum with effect from 01.07.2019 to 30.09.2019 as ordered by the Government of India.
3. In the reference 3rd read above, the Government of India through resolution No. F.No. 5(2)-B(PD)/2019, Dated.21.10.2019 announced the interest rate for the subscribers of the General Provident Fund (Central Services) at 7.9% per annum for the period from 01.10.2019 to 31.12.2019 during the financial year 2019-20.
4. Government after careful examination of the matter, hereby ordered to continue the rate of interest at 7.9% per annum for the period from 01.10.2019 to 31.12.2019 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.
a. The General Provident Fund (Andhra Pradesh) Rules1935
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. The G.O. is available on the Internet and can be accessed at the address http://www.goir.ap.gov.in
