GPF and Similar Funds to Carry Interest at 7.1% from April to June 2023

The Ministry of Finance, Department of Economic Affairs, Budget Division of the Government of India has announced that from April 1, 2023, to June 30, 2023, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry an interest rate of 7.1%. This interest rate will be applicable to ten different funds including the General Provident Fund (Central Services), State Railway Provident Fund, and the Armed Forces Personnel Provident Fund. The resolution has been ordered to be published in the Gazette of India.

Notification of General Provident Fund and other similar funds

(TO BE PUBLISHED IN PART I SECTION 1 OF GAZETTE OF INDIA) |
F.NO. 5(3)-B(PD)/2023
Government of India
Ministry of Finance
Department of Economic Affairs
(Budget Division)

New Delhi, the 10 April, 2023

RESOLUTION

It is announced for general information that during the year 2023-2024, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st April, 2023 to 30th June, 2023. This rate will be in force w.e.f. 1st April, 2023. The funds concerned are:

1. The General Provident Fund (Central Services).
2. The Contributory Provident Fund (India).
3. The All India Services Provident Fund.
4. The State Railway Provident Fund.
5. The General Provident Fund (Defence Services).
6. The Indian Ordnance Department Provident Fund.
7. The Indian Ordnance Factories Workmen’s Provident Fund.
8. The Indian Naval Dockyard Workmen’s Provident Fund. :
9. The Defence Services Officers Provident Fund.
10. The Armed Forces Personnel Provident Fund.
11. Ordered that the Resolution be published in Gazette of India.

(Ashish Vachhani)
Additional Secretary to the Govt. of India

Source: dea.gov.in