The Central Government has announced the interest rate for General Provident Fund (GPF) and other similar funds for the quarter October to December 2021. GPF and other similar fund subscribers, who are central government employees, will continue to earn returns of 7.1 per cent in the third quarter of the financial year, as the central government has reduced the GPF interest rate for the third quarter of FY 2021-22 in any way. has not changed. In the last quarter also, the central government did not change the interest rate of GPF. The Budget Division of the Department of Economic Affairs in the Ministry of Finance has issued a notification in this regard today.
The new interest rates will be applicable from October 1,
it is announced for general information that during the year 2021-22 on credit of customers of General Provident Fund and other similar funds, a notification of the Budget Division said that a The interest rate will be 7.1% from October 2021. Earlier, the central government has not made any change in the interest rate of Public Provident Fund (PPF), NSC (National Savings Certificate), Sukanya Samriddhi Yojana and other small savings schemes for October to December 2021. The PPF interest rate for the current quarter is 7.1 per cent, which is compounded annually.
7.1 percent interest rate on these funds will be effective from October 1, 2021
- General Provident Fund (Central Services).
- Contributory Provident Fund (India).
- All India Services Provident Fund.
- State Railway Provident Fund.
- General Provident Fund (Defence Services).
- Indian Ordnance Department Provident Fund.
- Indian Ordnance Factory Workers Provident Fund.
- Indian Naval Dockyard Workers Provident Fund.
- Defense Services Officers Provident Fund.
- Armed Forces Personnel Provident Fund.
What are the rules
According to the official website of the Ministry of Personnel, Public Grievances and Pensions, the General Provident Fund (Central Service) Rules, 1960 on all temporary government employees after one year of continuous service, all re-employed pensioners (for entry into the Contributory Provident Fund) other than eligible ones) and applicable to all permanent government employees.
The Contributory Provident Fund Rules (India), 1962 apply to every non-pensioner Government servant in connection with any service under the control of the President. The rules provide for advance and withdrawal from CPF for specific purposes. As in the GPF rules, the CPF rules also provide for a modified deposit linked insurance scheme.
