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Interest rates on General Provident Fund GPF ZPPF and other similar funds at the rate of 7.1%
Interest rates on General Provident Fund GPF ZPPF and other similar funds at the rate of 7.1%-GPF | ZPPF | PF Similar Funds Interest rates from January 2021 to March 2021 G.O.RT.No. 337 Dated: 26-02-2021
Sub:-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 01.01.2021 to 31.03.2021 for the year 2020-21 - Orders - Issued.
Interest rates on General Provident Fund GPF ZPPF and other similar funds at the rate of 7.1%
G.O.RT.No. 337 Dated: 26-02-2021.
Read the Following:-
- 1. G.O.Rt.No.3060, Finance (HR.III - Pension) Department, Dt.29.12.2020.
- 2. GOI, Resolution F. No. 5(2)-B(PD)/2020, Government of India, Ministry of Finance, Department of Economic Affairs (Budget Division), Dt.6th January 2021.
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.
In the G.O.1st read above, the State Government have adopted the interest rate of 7.1% per annum with effect from 01.10.2020 to 31.12.2020 for the 3rd quarter of the year 2020-21 on the following Provident Funds and other similar funds maintained by the Government 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.
In the reference 2nd read above, the Government of India announced the General Provident Fund and other similar funds shall carry an interest rate at 7.1% (Seven points one percent) w.e.f. 1st January 2021 to 31st March 2021. This rate will be in force w.e.f 1st January 2021.
Government after careful examination of the matter hereby ordered to carry the rate of interest at 7.1% (Seven point One percent) per annum for the period from 01.01.2021 to 31.03.2021 during the year 2020-21 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.
