General Provident Fund (GPF) interest rate for declared T3FY22. Check details


The central government announced the interest rate of the General Provident Fund (GPF) and other similar types of funds for the quarter of October to December 2021. The GPF and other underwriters of similar funds, which are central government employees, will continue to earn a return of 7.1% in the third quarter of fiscal 22, as the central government left the GPF interest rate unchanged at 7.1% for the third quarter of l 2021-2022 fiscal year. The central government also left the GPF interest rate unchanged in the previous quarter. The Budget Division of the Department of Economic Affairs of the Ministry of Finance today issued a notification in this regard.

The Budget Division notification said: “It is announced for general information that in the year 2021-2022, the accumulation to the credit of subscribers of the General Provident Fund and other similar funds will bear an interest rate of 7.1% (seven point one percent) on October 1, 2021. “

Previously, the central government had left the interest rates of the Public Provident Fund (PPF), NSC (National Savings Certificate), Sukanya Samriddhi Yojana (SSY) and other small savings schemes unchanged. October to December 2021. The PPF interest rate for the current quarter is 7.1 percent, which is compounded annually.

The 7.1% interest rate for the October to December 2021 quarter, effective October 1, 2021, will apply to all of the following funds:

1]The General Provident Fund (Central Services);

2]The Contingency Contingency Fund (India);

3]The Indian Service Provident Fund;

4]The State Railways Provident Fund;

5]The Caisse Générale de Prévoyance (Defense Services);

6]The Indian Artillery Department Contingency Fund;

7]The contingency fund for workers in Indian artillery factories;

8]The Indian Shipyard Workers Contingency Fund;

9]The Provident Fund for Defense Service Officers; and

10]The Army Personnel Provident Fund.

According to the official website of the Ministry of Personnel, Public Claims and Pensions, the 1960 rules of the General Provident Fund (central services) apply to all temporary government employees after one year of continuous service, to all retirees rehired (other than those for admission to the Caisse Contributive de Prévoyance) and all permanent state employees.

Contributory, Provident Fund Rules (India), 1962 is applicable to any non-retired official belonging to any of the services under the control of the President. The Regulations provide for the withdrawal of advances or withdrawals from the CPF for specific purposes. As in the GPF rules, the CPF rules also provide for a revised deposit insurance regime.

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